v3.22.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Apr. 30, 2022
Oct. 31, 2021
Current assets:    
Cash and cash equivalents $ 27,732 $ 29,128
Short-term investments 4,499 6,599
Prepaid expenses and other current assets 332 276
Total current assets 32,563 36,003
Operating lease right-of-use asset 234 254
Total assets 32,797 36,257
Current liabilities:    
Accounts payable 93 136
Accrued expenses 1,057 1,095
Operating lease liability 39 39
Total current liabilities 1,189 1,270
Operating lease liability, non-current 202 220
Total liabilities 1,391 1,490
Commitments and contingencies (Note 9)
Shareholders’ equity:    
Preferred stock
Common stock, par value $.01 per share; 100,000,000 shares authorized; 30,154,708 and 30,050,894 shares issued and outstanding as of April 30, 2022 and October 31, 2021, respectively 302 301
Additional paid-in capital 244,032 239,927
Accumulated deficit (212,163) (204,790)
Total shareholders’ equity 32,171 35,438
Noncontrolling interest (Note 1) (765) (671)
Total equity 31,406 34,767
Total liabilities and equity 32,797 36,257
Series A Convertible Preferred Stock [Member]    
Shareholders’ equity:    
Preferred stock

Source

v3.22.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Apr. 30, 2022
Apr. 30, 2021
Apr. 30, 2022
Apr. 30, 2021
Income Statement [Abstract]        
Revenue $ 513
Operating costs and expenses:        
Inventor royalties, contingent legal fees, litigation and licensing expenses 385
Research and development expenses (including non-cash share-based compensation expenses of $966, $447, $2,243 and $737, respectively) 1,735 1,022 3,573 1,850
General and administrative expenses (including non-cash share-based compensation expenses of $715, $604, $1,793 and $1,300, respectively) 1,854 1,415 3,896 2,948
Total operating costs and expenses 3,589 2,437 7,469 5,183
Loss from operations (3,589) (2,437) (7,469) (4,670)
Interest income 1 2 1
Net loss (3,588) (2,437) (7,467) (4,669)
Less: Net loss attributable to noncontrolling interest (44) (38) (94) (62)
Net loss attributable to common shareholders $ (3,544) $ (2,399) $ (7,373) $ (4,607)
Net loss per common share attributable to common shareholders:        
Basic and diluted $ (0.12) $ (0.08) $ (0.24) $ (0.17)
Weighted average common shares outstanding:        
Basic and diluted 30,152 28,669 30,138 26,888

Source

v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Apr. 30, 2022
Apr. 30, 2021
Reconciliation of net loss to net cash used in operating activities:    
Net loss $ (7,467) $ (4,669)
Stock option compensation to employees and directors 3,598 1,756
Stock options and warrants issued to consultants 437 282
Common stock issued to consultants 64
Gain on sale of equipment (5)
Amortization of operating lease right-of-use asset 21 29
Change in operating assets and liabilities:    
Prepaid expenses and other current assets (56) (58)
Accounts payable (44) 205
Accrued expenses (37) 77
Operating lease liability (19) (29)
Net cash used in operating activities (3,503) (2,412)
Cash flows from investing activities:    
Disbursements to acquire short-term investments (4,249) (10,399)
Proceeds from maturities of short-term investments 6,349 2,640
Proceeds from sale of equipment 35
Net cash provided by (used in) investing activities 2,100 (7,724)
Cash flows from financing activities:    
Gross proceeds from sale of common stock in a public offering 22,500
Expenses of the public offering (2,208)
Gross proceeds from sale of common stock in an at-the-market offering 11,175
Expenses of the at-the-market offering (341)
Proceeds from sale of common stock pursuant to employee stock purchase plan 7 3
Proceeds from exercise of stock options 293
Net cash provided by financing activities 7 31,422
Net (decrease) increase in cash and cash equivalents (1,396) 21,286
Cash and cash equivalents at beginning of period 29,128 6,417
Cash and cash equivalents at end of period $ 27,732 $ 27,703

Source