Annual report pursuant to Section 13 and 15(d)

SEGMENT INFORMATION

v3.24.4
SEGMENT INFORMATION
 12 Months Ended
Oct. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION

8. 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) Cancer Vaccines, (ii) CAR-T Therapeutics, and (iii) Other. The following represents selected financial information for our segments for the years ended October 31, 2024 and 2023, in thousands:

    2024     2023  
    Year Ended October 31,  
    2024     2023  
Net loss:                
Cancer Vaccines   $ (7,388 )   $ (5,111 )
CAR-T Therapeutics     (5,256 )   $ (3,879 )
Other     (54 )     (940 )
Total   $ (12,698 )   $ (9,930 )
                 
Total operating costs and expenses   $ 13,831     $ 11,221  
Less non-cash stock-based compensation     (4,782 )     (4,735 )
Operating costs and expenses excluding non-cash stock-based compensation   $ 9,049     $ 6,486  
                 
Operating costs and expenses excluding non-cash stock-based compensation:                
Cancer Vaccines   $ 5,235     $ 3,265  
CAR-T Therapeutics     3,766       2,467  
Other     48       754  
Total   $ 9,049     $ 6,486  

 

    2024     2023  
    October 31,  
    2024     2023  
Total assets:                
Cancer Vaccines   $ 12,917     $ 17,215  
CAR-T Therapeutics     8,535       7,523  
Other     139       784  
Total   $ 21,591     $ 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 had no revenue during the year ended October 31, 2024. The Company’s consolidated revenue of $210,000 and inventor royalties, contingent legal fees, litigation and licensing expense of $161,000, for the year ended October 31, 2023 were solely related to our other segment. All our revenue is generated domestically (United States) based on the country in which the licensee is located.