CONTINGENT LIABILITIES AND COMMITMENTS |
12 Months Ended | |||||||||
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Jul. 31, 2026 | ||||||||||
| Commitments and Contingencies Disclosure [Abstract] | ||||||||||
| CONTINGENT LIABILITIES AND COMMITMENTS | NOTE 7: CONTINGENT LIABILITIES AND COMMITMENTS
Upon the exercise of certain BriaCell warrants that were outstanding at the time of the Amalgamation Agreement with BriaPro (“Briacell Legacy Warrants”), BriaCell shall, as agent for BriaPro, collect and pay to BriaPro an amount based on an agreed formula. As of July 31, 2026, this amount totaled up to $132,536 and is eliminated on consolidation.
Pursuant to the Amalgamation Agreement, each BriaCell Legacy Warrant shall, in accordance with its terms, entitle the holder thereof to receive, upon the exercise thereof, one BriaCell Share (and post Reverse Splits, as defined below– 150 Briacell Shares) and one BriaPro Share for the original exercise price. Warrants issued by the Company, subsequent to the Arrangement are not subject to the terms above.
Upon the exercise of 150 BriaCell Legacy Warrants (post Reverse Splits), BriaCell shall, as agent for BriaPro, collect and pay to BriaPro an amount for each one (1) BriaPro Share so issued that is equal to the exercise price under the 150 BriaCell Legacy Warrants multiplied by the fair market value of one (1) BriaPro Share at the Effective Date divided by the total fair market value of one (1) BriaCell Share and one (1) BriaPro Share at the Effective Date (“BriaPro Warrant Shares”). On a Reverse Split basis, as of July 31, 2026, 27,820 Briacell Legacy Warrants are exercisable into Briacell Shares and BriaPro Shares.
BriaCell Therapeutics Corp Notes to the Consolidated Financial Statements For the Years Ended July 31, 2026 and 2025 (Expressed in US Dollars, unless otherwise indicated)
NOTE 7: CONTINGENT LIABILITIES AND COMMITMENTS (Cont.)
As of July 31, 2026, the Company had a month-to-month commitment for office and lab space in Philadelphia, PA, costing the company approximately $43,500 per month.
The Company is party to a Master Service and Technology Agreement with Prevail InfoWorks, Inc., which provides contract research organization services related to the Company’s ongoing pivotal Phase 3 clinical trial. As of July 31, 2026, the Company had remaining contractual commitments of approximately $2.9 million under the agreement, with payments extending through June 2028.
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