Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Oct. 31, 2021
Oct. 31, 2020
Reconciliation of net loss to net cash used in operating activities:    
Net loss $ (13,127,923) $ (10,092,363)
Stock option compensation to employees and directors 7,503,037 3,922,719
Stock options and warrants issued to consultants 555,041 214,741
Depreciation of property and equipment 38,276
(Gain) loss on disposal of property and equipment (5,447) 148,084
Amortization of operating lease right-of-use asset 59,864 51,881
Change in operating assets and liabilities:    
Receivables 64,296
Prepaid expenses and other current assets 36,007 (124,360)
Accounts payable (96,172) (353,449)
Accrued expenses 193,910 5,527
Operating lease liability (55,198) (51,023)
Net cash used in operating activities (4,936,881) (6,175,671)
Cash flows from investing activities:    
Disbursements to acquire short-term investments (16,498,895) (5,010,000)
Proceeds from maturities of short-term investments 12,539,300 4,720,000
Proceeds from sale of equipment 35,447
Proceeds received on sale of common stock by ZQX Advisors, LLC 6,473
Purchase of property and equipment (15,791)
Net cash used in investing activities (3,917,675) (305,791)
Cash flows from financing activities:    
Proceeds from sale of common stock in a public offering, net of expenses 20,291,854
Proceeds from sale of common stock in an at-the-market offering, net of expenses 10,833,715 9,266,177
Proceeds from sale of common stock pursuant to employee stock purchase plan 6,000 18,451
Proceeds from exercise of stock options 434,224 122,270
Net cash provided by financing activities 31,565,793 9,406,898
Net increase in cash and cash equivalents 22,711,237 2,925,436
Cash and cash equivalents at beginning of year 6,417,061 3,491,625
Cash and cash equivalents at end of year 29,128,298 6,417,061
Supplemental cash flow information:    
Cash proceeds from interest income 1,824 39,890
Supplemental disclosure of non-cash investing activity:    
Operating lease right-of-use asset (259,479)
Supplemental disclosure of non-cash financing activities:    
Operating lease liability 259,479
Fair value of warrants issued in connection with public offering $ 1,040,700