v3.26.1
SEGMENT INFORMATION
 9 Months Ended
Jul. 31, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION

11. SEGMENT INFORMATION

 

We manage our operations in three reportable segments: (i) Cancer Vaccines, (ii) CAR-T Therapeutics, and (iii) Other. The Cancer Vaccines segment consists of the development of vaccines to treat and prevent breast cancer and ovarian cancer, as well as additional cancer vaccines to address many intractable cancers, including high-incidence malignancies in lung, colon, and prostate. The CAR-T Therapeutics segment consists of the development of an ovarian cancer immunotherapy using a novel type of CAR-T, known as chimeric endocrine receptor-T cell technology. The Other segment consists of our legacy operations, including limited patent licensing activities of our various patent portfolios.

 

The Company’s chief operating decision-maker (“CODM”) is our Chief Executive Officer. The CODM reviews our operating results and operating plans and makes resource allocation decisions on a Company-wide, as well as reportable segment, basis. The CODM uses segment information to evaluate cash flow, identify risks and opportunities, allocate resources, and set strategic priorities. As stock-based compensation expense does not impact cash, segment operating expenses excluding non-cash stock-based compensation is the measurement the CODM uses in managing the enterprise. Segment operating expenses excluding non-cash stock-based compensation is a non-GAAP measure.

 

 

The following represents selected financial information for our segments for the three and nine months ended July 31, 2026 and 2025, and as of July 31, 2026 and October 31, 2025 (in thousands):

 

                         
   For the three months ended July 31, 
   2026   2025 
   Cancer Vaccines   CAR-T Therapeutics   Other   Total   Cancer Vaccines   CAR-T Therapeutics   Other   Total 
                                 
Revenues  $-   $-   $-   $-   $-   $-   $-   $- 
                                         
Research and development expenses   921    405    -    1,326    615    440    -    1,055 
General and administrative expenses   960    438    13    1,411    770    601    10    1,381 
Total operating expenses   1,881    843    13    2,737    1,385    1,041    10    2,436 
                                         
Loss from operations   (1,881)   (843)   (13)   (2,737)   (1,385)   (1,041)   (10)   (2,436)
                                         
Interest income   78    33    1    112    87    68    1    156 
                                         
Net loss  $(1,803)  $(810)  $(12)  $(2,625)  $(1,298)  $(973)  $(9)  $(2,280)
                                         
Total operating expenses  $1,881   $843   $13   $2,737   $1,385   $1,041   $10   $2,436 
Less non-cash stock-based compensation   (436)   (228)   (2)   (666)   (501)   (352)   (2)   (855)
Operating expenses excluding non-cash stock-based compensation (a non-GAAP measure)  $1,445   $615   $11   $2,071   $884   $689   $8   $1,581 

 

                         
   For the nine months ended July 31, 
   2026   2025 
   Cancer Vaccines   CAR-T Therapeutics   Other   Total   Cancer Vaccines   CAR-T Therapeutics   Other   Total 
                                 
Revenues  $-   $-   $-   $-   $-   $-   $-   $- 
                                         
Research and development expenses   2,406    1,280    -    3,686    2,489    1,440    -    3,929 
General and administrative expenses   2,847    1,539    28    4,414    3,031    1,825    40    4,896 
Total operating expenses   5,253    2,819    28    8,100    5,520    3,265    40    8,825 
                                         
Loss from operations   (5,253)   (2,819)   (28)   (8,100)   (5,520)   (3,265)   (40)   (8,825)
                                         
Interest income   231    122    1    354    325    191    3    519 
                                         
Net loss  $(5,022)  $(2,697)  $(27)  $(7,746)  $(5,195)  $(3,074)  $(37)  $(8,306)
                                         
Total operating expenses  $5,253   $2,819   $28   $8,100   $5,520   $3,265   $40   $8,825 
Less non-cash stock-based compensation   (1,344)   (779)   (4)   (2,127)   (1,806)   (1,086)   (7)   (2,899)
Operating expenses excluding non-cash stock-based compensation (a non-GAAP measure)  $3,909   $2,040   $24   $5,973   $3,714   $2,179   $33   $5,926 

 

   July 31,
2026		   October 31,
2025		 
Total assets:          
Cancer Vaccines  $10,473   $9,604 
CAR-T Therapeutics   4,486    6,347 
Other   115    129 
Total  $15,074   $16,080 

 

Operating expenses excluding non-cash stock-based compensation is the measurement the chief operating decision-maker uses in managing the enterprise.