Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION

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SEGMENT INFORMATION
 6 Months Ended
Apr. 30, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION

11. SEGMENT INFORMATION

 

We follow the accounting guidance of ASC 280 “Segment Reporting” (“ASC 280”). Reportable operating segments are determined based on the management approach. The management approach, as defined by ASC 280, is based on the way that the chief operating decision-maker organizes the segments within an enterprise for making operating decisions and assessing performance. While our results of operations are primarily reviewed on a consolidated basis, the chief operating decision-maker manages the enterprise in three reportable segments, each with different operating and potential revenue generating characteristics: (i) CAR-T Therapeutics, (ii) Cancer Vaccines and (iii) Other. The following represents selected financial information for our segments for the three and six months ended April 30, 2024 and 2023 and as of April 30, 2024 and October 31, 2023, in thousands:

 

    2024     2023     2024     2023  
    For the Three Months Ended
April 30,		     For the Six Months Ended
April 30,		  
    2024     2023     2024     2023  
Net income/(loss):                                
CAR-T Therapeutics   $ (1,444 )   $ (997 )   $ (2,970 )   $ (1,908 )
Cancer Vaccines     (1,713 )     (913 )     (3,469 )     (1,871 )
Other     (23 )     (397 )     (31 )     (882 )
Total   $ (3,180 )   $ (2,307 )   $ (6,470 )   $ (4,661 )
                                 
Total operating costs and expenses   $ 3,467     $ 2,770     $ 7,076     $ 5,326  
Less non-cash stock-based compensation     (1,260 )     (1,227 )     (2,520 )     (2,290 )
Operating costs and expenses excluding non-cash stock-based compensation   $ 2,207     $ 1,543     $ 4,556     $ 3,036  
Operating costs and expenses excluding non-cash stock-based compensation:                                
CAR-T Therapeutics   $ 1,026     $ 620     $ 2,154     $ 1,218  
Cancer Vaccines     1,160       523       2,373       1,111  
Other     21       400       29       707  
Total   $ 2,207     $ 1,543     $ 4,556     $ 3,036  

 

    April 30,
2024		     October 31,
2023		  
Total assets:                
CAR-T Therapeutics   $ 11,314     $ 7,523  
Cancer Vaccines     12,778       17,215  
Other     263       784  
Total   $ 24,355     $ 25,522  

 

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

 

The Company’s consolidated revenue of $210,000 and inventor royalties, contingent legal fees, litigation and licensing expense of $161,000 for the three and six months ended April 30, 2023 were solely related to our encrypted audio/video conference calling technology, which is included in our Other segment. All our revenue is generated domestically (United States) based on the country in which the licensee is located.