Filed: 9 Sep 19

Document and Entity Information

Document and Entity Information - shares9 Months Ended
Jul. 31, 2019Sep. 06, 2019
Document And Entity Information
Entity Registrant NameAdvaxis, Inc.
Entity Central Index Key0001100397
Document Type10-Q
Document Period End DateJul. 31,
2019
Amendment Flagfalse
Current Fiscal Year End Date--10-31
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryAccelerated Filer
Entity Small Business Flagtrue
Entity Emerging Growth Companyfalse
Entity Ex Transition Periodfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding24,710,135
Document Fiscal Period FocusQ3
Document Fiscal Year Focus2019

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($) $ in ThousandsJul. 31, 2019Oct. 31, 2018
Current Assets:
Cash and cash equivalents $ 41,755 $ 44,141
Restricted cash 977
Accounts receivable 1,664
Deferred expenses2,167 2,072
Prepaid expenses and other current assets1,571 1,611
Total current assets45,493 50,465
Property and equipment (net of accumulated depreciation)5,592 6,684
Intangible assets (net of accumulated amortization)4,768 4,838
Other assets280 280
Total assets56,133 62,267
Current liabilities:
Accounts payable2,010 5,646
Accrued expenses3,576 6,185
Deferred revenue 4,476
Common stock warrant liability36 6,517
Other current liabilities48 48
Total current liabilities5,670 22,872
Deferred revenue-net of current portion 14,189
Other liabilities1,194 1,155
Total liabilities6,864 38,216
Commitments and contingencies - Note 9
Stockholders' equity:
Preferred stock, $0.001 par value; 5,000,000 shares authorized; Series B Preferred Stock; 0 shares issued and outstanding at July 31, 2019 and October 31, 2018 Liquidation preference of $0 at July 31, 2019 and October 31, 2018
Common stock - $0.001 par value; 170,000,000 shares authorized, 19,248,851 and 4,634,189 shares issued and outstanding at July 31, 2019 and October 31, 2018, respectively20 5
Additional paid-in capital423,330 391,703
Accumulated deficit(374,081)(367,657)
Total stockholders' equity49,269 24,051
Total liabilities and stockholders' equity $ 56,133 $ 62,267

Condensed Balance Sheets (Una_2

Condensed Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in ThousandsJul. 31, 2019Oct. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value $ 0.001 $ 0.001
Preferred stock, shares authorized5,000,000 5,000,000
Series B Preferred stock, shares issued0 0
Series B Preferred stock, shares outstanding0 0
Preferred stock, liquidation preference value $ 0 $ 0
Common stock, par value $ 0.001 $ 0.001
Common stock, shares authorized170,000,000 170,000,000
Common stock, shares issued19,248,851 4,634,189
Common stock, shares outstanding19,248,851 4,634,189

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Jul. 31, 2019Jul. 31, 2018Jul. 31, 2019Jul. 31, 2018
Income Statement [Abstract]
Revenue $ 6 $ 1,131 $ 20,883 $ 4,934
Operating expenses:
Research and development expenses7,060 10,560 19,735 37,679
General and administrative expenses3,076 4,735 8,834 15,519
Total operating expenses10,136 15,295 28,569 53,198
Loss from operations(10,130)(14,164)(7,686)(48,264)
Other income (expense):
Interest income, net95 149 354 439
Net changes in fair value of derivative liabilities177 2,572
Loss on shares issued in settlement of warrants (1,607)
Other expense (2)(7)(42)
Net loss before benefit for income taxes(9,858)(14,017)(6,374)(47,867)
Income tax expense 50 50
Net loss $ (9,858) $ (14,017) $ (6,424) $ (47,917)
Net loss per common share, basic and diluted $ (1) $ (3.99) $ (0.94) $ (14.98)
Weighted average number of common shares outstanding, basic and diluted9,870,461 3,511,261 6,813,494 3,197,778

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Jul. 31, 2019Jul. 31, 2018Jul. 31, 2019Jul. 31, 2018
OPERATING ACTIVITIES
Net loss $ (9,858) $ (14,017) $ (6,424) $ (47,917)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock compensation464 1,952 1,565 5,987
Employee stock purchase plan expense3 13
Gain on change in value of warrants(177) (2,572)
Loss on shares issued in settlement of warrants 1,607
Loss on disposal of property and equipment290 27
Abandonment of intangible assets300 100 625 424
Depreciation expense300 300 848 827
Amortization expense of intangible assets100 100 290 288
Net accretion of premiums (6)
Change in operating assets and liabilities:
Accounts receivable1,664 1,094
Prepaid expenses and other current assets(54)(2,433)
Income tax receivable 4,453
Other assets (58)
Accounts payable and accrued expenses(6,245)(7,030)
Deferred revenue(18,665)(4,681)
Other liabilities39 88
Net cash used in operating activities(27,029)(48,924)
INVESTING ACTIVITIES
Purchases of short-term investment securities (12,487)
Proceeds from maturities of short-term investment securities 58,891
Purchase of property and equipment(54)(1,381)
Proceeds from disposal of property and equipment8
Cost of intangible assets(845)(1,132)
Net cash (used in) provided by investing activities(891)43,891
FINANCING ACTIVITIES
Net proceeds of issuance of common stock and pre-funded warrants24,471 21,042
Warrant exercise68
Proceeds from employee stock purchase plan19 22
Tax withholdings paid related to net share settlement of equity awards (87)
Employee tax withholdings paid on equity awards(15)(458)
Tax shares sold to pay for employee tax withholdings on equity awards14 438
Net cash provided by financing activities24,557 20,957
Net (decrease) increase in cash, cash equivalents and restricted cash(3,363)15,924
Cash, cash equivalents and restricted cash at beginning of year45,118 24,487
Cash, cash equivalents and restricted cash at end of year41,755 40,411 41,755 40,411
Cash and cash equivalents41,755 39,434 41,755 39,434
Restricted cash 977 977
Total cash, cash equivalents and restricted cash shown in condensed statements of cash flows $ 41,755 $ 40,411 41,755 40,411
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for taxes50 50
SUPPLEMENTAL DISCLOSURE OF NON-CASH AND FINANCING ACTIVITIES
Property and equipment included in accounts payable and accrued expenses 57
Shares issued in settlement of warrants5,462
Warrant liability reclassified into equity53
Pre-funded warrant exercises $ 1

Nature of Operations

Nature of Operations9 Months Ended
Jul. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations1.
NATURE OF OPERATIONS Advaxis,
Inc. (“Advaxis” or the “Company”) is a clinical-stage biotechnology company focused on the discovery,
development and commercialization of proprietary Listeria monocytogenes Lm Lm Lm Lm TM
● Alerting and
training the immune system by activating multiple pathways in Antigen-Presenting Cells (“APCs”) with the equivalent
of multiple adjuvants;
● Attacking the
tumor by generating a strong, cancer-specific T cell response; and
● Breaking down
tumor protection through suppression of the protective cells in the tumor microenvironment (“TME”) that shields
the tumor from the immune system. This enables the activated T cells to begin working to attack the tumor cells. Advaxis’
proprietary Lm Lm On
June 27, 2019, Advaxis announced that it is increasing its focus on neoantigen-directed immunotherapies and closing the AIM2CERV
Phase 3 clinical trial with axalimogene filolisbac (AXAL) in high-risk locally advanced cervical cancer. Advaxis intends to continue
to support the clinical development of AXAL, its single-antigen construct, in other HPV-related cancers while redirecting resources
towards advancing its neoantigen-directed programs. Going
Concern and Management’s Plans The
Company has not yet commercialized any human products and the products that are being developed have not generated significant
revenue. As a result, the Company has suffered recurring losses and requires significant cash resources to execute its business
plans. These losses are expected to continue for an extended period of time. The aforementioned factors raise substantial doubt
about the Company’s ability to continue as a going concern within one year from the date of filing. The accompanying financial
statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities
in the normal course of business. The financial statements do not include any adjustments relating to the recoverability and classification
of asset amounts or the classification of liabilities that might be necessary should the Company be unable to continue as a going
concern within one year after the date the financial statements are issued. Historically,
the Company’s major sources of cash have been comprised of proceeds from various public and private offerings of its common
stock, clinical collaborations, option and warrant exercises, and interest income. From October 2013 through July 2019, the Company
raised approximately $292.2 million in gross proceeds ($27.0 million in fiscal year 2019) from various public and private offerings
of its common stock. As
of July 31, 2019, the Company had approximately $41.8 million in cash and cash equivalents. Although the Company believes that
it expects to have sufficient capital to fund its obligations, as they become due, in the ordinary course of business until at
least September 2020, the actual amount of cash that it will need to operate is subject to many factors. Management’s plans
to mitigate an expected shortfall of capital and to support future operations include obtaining additional funds through partnerships
or strategic or financing investors. The Company has reduced its operating expenses to $28.6 million for the nine months ended
July 31, 2019 as compared to $53.2 million during the comparable prior period. Furthermore, the Company expects operating expenses
to be between $33 million and $37 million for fiscal year 2020, which includes approximately $6 million in non-recurring costs
related to programs that are winding down. The
Company recognizes it will need to raise additional capital in order to continue to execute its business plan in the future. There
is no assurance that additional financing will be available when needed or that management will be able to obtain financing on
terms acceptable to the Company or whether the Company will become profitable and generate positive operating cash flow. If the
Company is unable to raise sufficient additional funds, it will have to scale back its operations.

Summary of Significant Accounti

Summary of Significant Accounting Policies and Basis of Presentation9 Months Ended
Jul. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies and Basis of Presentation2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION Basis
of Presentation/Estimates The
accompanying unaudited interim condensed financial statements and related notes have been prepared in accordance with accounting
principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, and
in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) with respect to Form
10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S.
GAAP for complete financial statements and the accompanying unaudited condensed balance sheet as of July 31, 2019 has been derived
from the Company’s October 31, 2018 audited financial statements. In the opinion of management, the unaudited interim condensed
financial statements furnished include all adjustments (consisting of normal recurring accruals) necessary for a fair statement
of the results for the interim periods presented. Operating
results for interim periods are not necessarily indicative of the results to be expected for the full year. The preparation of
financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported
amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during
the reporting period. Significant estimates include the timelines associated with revenue recognition on upfront payments received,
fair value and recoverability of the carrying value of property and equipment and intangible assets, fair value of warrant liability,
grant date fair value of options, deferred tax assets and any related valuation allowance and related disclosure of contingent
assets and liabilities. On an on-going basis, the Company evaluates its estimates, based on historical experience and on various
other assumptions that it believes to be reasonable under the circumstances. Actual results could materially differ from these
estimates. These
unaudited interim condensed financial statements should be read in conjunction with the financial statements of the Company as
of and for the year ended October 31, 2018 and notes thereto contained in the Company’s annual report on Form 10-K, as filed
with the SEC on January 11, 2019. Reclassification Certain
amounts in the prior period financial statements have been reclassified to conform to the presentation of the current period financial
statements. These reclassifications had no effect on the previously reported net loss. Concentration
of Credit Risk Financial
instruments which potentially subject the Company to concentration of credit risk, consist principally of cash and cash equivalents.
All of the Company’s cash and cash equivalents are deposited in accounts with financial institutions that management believes
are of high credit quality and at times exceed the federally insured limits. The Company had not experienced losses in such accounts
and believes it is not exposed to any significant credit risk. Restricted
Cash and Letters of Credit During
July 2017 and January 2018, the Company established two letters of credit with a financial institution as security for the purchase
of custom equipment and as security for application fees associated with the Company’s Marketing Authorization Application
(“MAA”) in Europe. The letters of credit were collateralized by cash which was unavailable for withdrawal or for usage
for general obligations. During the nine months ended July 31, 2019, the two letters of credit were terminated and as of July
31, 2019 the Company has no restricted cash balance. Net
Income (Loss) per Share Basic
net income or loss per common share is computed by dividing net income or loss available to common stockholders by the weighted
average number of common shares outstanding during the period. Diluted earnings per share give effect to dilutive options, warrants,
restricted stock units and other potential common stock outstanding during the period. In the case of a net loss, the impact of
the potential common stock resulting from warrants, outstanding stock options and convertible debt are not included in the computation
of diluted loss per share, as the effect would be anti-dilutive. In the case of net income, the impact of the potential common
stock resulting from these instruments that have intrinsic value are included in the diluted earnings per share. The table sets
forth the number of potential shares of common stock that have been excluded from diluted net loss per share (as of July 31, 2019,
13,079,000 pre-funded warrants are included in the basic earnings per share computation because the exercise price is nominal):
As
of July 31,
2019 2018
Warrants 18,301,804 206,160
Stock options 405,372 353,258
Restricted
stock units 16,204 47,100
Total 18,723,380 606,518 Revenue
Recognition Effective
November 1, 2018, the Company adopted ASC Topic 606, Revenue form Contracts with Customers (ASC 606), using the modified retrospective
transition method. Under this method, results for reporting periods beginning on November 1, 2018 are presented under ASC 606,
while prior period amounts are not adjusted and continue to be reported in accordance with ASC Topic 605, Revenue Recognition
The
Company enters into licensing agreements that are within the scope of ASC 606, under which it may exclusively license rights to
research, develop, manufacture and commercialize its product candidates to third parties. The terms of these arrangements typically
include payment to the Company of one or more of the following: non-refundable, upfront license fees; reimbursement of certain
costs; customer option exercise fees; development, regulatory and commercial milestone payments; and royalties on net sales of
licensed products. In
determining the appropriate amount of revenue to be recognized as it fulfills its obligations under its agreements, the Company
performs the following steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether
the promised goods or services are performance obligations including whether they are distinct in the context of the contract;
(iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction
price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation.
As part of the accounting for these arrangements, the Company must use significant judgment to determine: (a) the number of performance
obligations based on the determination under step (ii) above; (b) the transaction price under step (iii) above; and (c) the stand-alone
selling price for each performance obligation identified in the contract for the allocation of transaction price in step (iv)
above. The Company uses judgment to determine whether milestones or other variable consideration, except for royalties, should
be included in the transaction price as described further below. The transaction price is allocated to each performance obligation
on a relative stand-alone selling price basis, for which the Company recognizes revenue as or when the performance obligations
under the contract are satisfied. Amounts
received prior to revenue recognition are recorded as deferred revenue. Amounts expected to be recognized as revenue within the
12 months following the balance sheet date are classified as current portion of deferred revenue in the accompanying balance sheets.
Amounts not expected to be recognized as revenue within the 12 months following the balance sheet date are classified as deferred
revenue, net of current portion. Exclusive
Licenses. Research
and Development Services. Milestone
Payments. Royalties.
Collaborative
Arrangements The
Company analyzes its collaboration arrangements to assess whether such arrangements involve joint operating activities performed
by parties that are both active participants in the activities and exposed to significant risks and rewards dependent on the commercial
success of such activities and therefore within the scope of ASC Topic 808, Collaborative Arrangements Recent
Accounting Standards In
February 2016, the Financial Accounting Standards Board, (“FASB”), issued Accounting Standards Update, (“ASU”),
No. 2016-02, Leases (Topic 842), which establishes a comprehensive new lease accounting model. The new standard: (a) clarifies
the definition of a lease; (b) requires a dual approach to lease classification similar to current lease classifications; and
(c) causes lessees to recognize leases on the balance sheet as a lease liability with a corresponding right-of-use asset for leases
with a lease-term of more than 12 months. The new standard is effective for fiscal years and interim periods beginning after December
15, 2018, with early adoption permitted. A modified retrospective transition approach is required for leases existing at, or entered
into after, the beginning of the earliest comparative period presented in the financial statements, including a number of optional
practical expedients that entities may elect to apply. In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted
Improvements, an update which provides another transition method, in addition to the existing modified retrospective transition
method, by allowing entities to initially apply the new lease standard at the adoption date and recognize a cumulative-effect
adjustment to the opening balance of retained earnings in the period of adoption. The Company is currently evaluating the impact
of adopting ASU 2016-02 on the Company’s financial statements. Recently
Adopted Accounting Standards In
May 2014, FASB issued ASU No. 2014-09, which amends the guidance for accounting for revenue from contracts with customers. ASU
No. 2014-09 superseded the revenue recognition requirements in ASC 605 and created ASC 606 described above. In 2015 and 2016,
the FASB issued additional ASUs related to ASC 606 that delayed the effective date of the guidance and clarified various aspects
of the new revenue guidance, including principal versus agent considerations, identifying performance obligations, and licensing,
and they include other improvements and practical expedients. Effective November 1, 2018, the Company adopted ASC 606 using the
modified retrospective transition method. As
a result of adopting ASC 606, the Company made reclassifications to the balance sheet and income statement. Net income (loss)
was not impacted by the adoption of ASC 606. A summary of the amount by which each financial statement line item was affected
by the impact of the cumulative adjustment is set forth in the table below (in thousands):
Impact
of ASC 606 Adoption on Condensed
Balance Sheet as
of November 1, 2018
(in
thousands) As
reported Adjustments Balances
without adoption of ASC 606
Accounts receivable $ 1,664 $ 1,664 $ -
Prepaid expenses and other current
assets $ 1,611 $ (1,664 ) $ 3,275 A
summary of the amount by which each financial statement line item was affected in the current reporting period by ASC 606 as compared
with the guidance that was in effect prior to the adoption of ASC 606 is set forth in the tables below.
Impact
of ASC 606 Adoption on Condensed
Balance Sheet as
of July 31, 2019
(in
thousands) As
reported Adjustments Balances
without adoption of ASC 606
Accounts
receivable $ - $ - $ -
Prepaid expenses
and other current assets $ 1,571 $ - $ 1,571
Impact
of ASC 606 Adoption on Condensed
Statement of Operations for
the Three Months Ended July 31, 2019
(in
thousands) As
reported under ASC 606 Adjustments Balances
without adoption of ASC 606
Revenue $ 6 $ - $ 6
Research and
Development Expenses $ 7,060 $ - $ 7,060
Impact
of ASC 606 Adoption on Condensed
Statement of Operations for
the Nine Months Ended July 31, 2019
(in
thousands) As
reported under ASC 606 Adjustments Balances
without adoption of ASC 606
Revenue $ 20,883 1,960 18,923
Research and
Development Expenses $ 19,735 1,960 17,775
Impact
of ASC 606 Adoption on Condensed
Statement of Cash Flows for
the Nine Months Ended July 31, 2019
(in
thousands) As
reported under ASC 606 Adjustments Balances
without adoption of ASC 606
Accounts
receivable $ - $ - $ -
Prepaid expenses
and other current assets $ 1,571 - 1,571 The
most significant change to the Company’s accounting for revenue as a result of the adoption of ASC 606 relates to its treatment
of clinical development payments it receives in its collaboration and licensing agreement with Amgen, Inc. (“Amgen”).
Under ASC 605, the Company accounted for the clinical development payments as a reduction of research and development expenses
in the statement of operations. Under ASC 606, the Company accounted for the reimbursements for research and development costs
as revenue. For further discussion of the adoption of this standard, see Note 8. In
November 2018, the FASB issued ASU No. 2018-18, “Collaborative Arrangements (Topic 808)—Clarifying the Interaction
between Topic 808 and Topic 606” (“ASU 2018-18”). The amendments in ASU 2018-18 make targeted improvements to
generally accepted accounting principles (GAAP) for collaborative arrangements by clarifying that certain transactions between
collaborative arrangement participants should be accounted for as revenue under Topic 606 when the collaborative arrangement participant
is a customer in the context of a unit of account. In those situations, all the guidance in Topic 606 should be applied, including
recognition, measurement, presentation, and disclosure requirements. In addition, unit-of-account guidance in Topic 808 was aligned
with the guidance in Topic 606 (that is, a distinct good or service) when an entity is assessing whether the collaborative arrangement
or a part of the arrangement is within the scope of Topic 606. ASU 2018-18 is effective for fiscal years beginning after December
15, 2019, and interim periods within those fiscal years. Early adoption is permitted, including adoption in any interim period.
The amendments should be applied retrospectively to the date of initial application of Topic 606. The Company adopted this guidance
effective November 1, 2018 using the modified retrospective approach. There was no impact on the Company’s financial statements. In
June 2018, the FASB issued ASU No. 2018-07, “Compensation—Stock Compensation (Topic 718) —Improvements to Nonemployee
Share-Based Payment Accounting” (“ASU 2018-07”). The amendments in ASU 2018-07 expand the scope of Topic 718
to include share-based payment transactions for acquiring goods and services from nonemployees. An entity should apply the requirements
of Topic 718 to nonemployee awards except for specific guidance on inputs to an option pricing model and the attribution of cost
(that is, the period of time over which share-based payment awards vest and the pattern of cost recognition over that period).
The amendments specify that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services
to be used or consumed in a grantor’s own operations by issuing share-based payment awards. The amendments also clarify
that Topic 718 does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted
in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts
with Customers. ASU 2018-07 is effective for public business entities for fiscal years beginning after December 15, 2018, including
interim periods within that fiscal year. Early adoption is permitted, but no earlier than an entity’s adoption date of Topic
606. The Company adopted this guidance effective as of February 1, 2019. There was no impact on the Company’s financial
statements. In
November 2016, the FASB issued ASU No. 2016-18, Restricted Cash Management
does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material
impact on the accompanying condensed financial statements.

Property and Equipment

Property and Equipment9 Months Ended
Jul. 31, 2019
Property, Plant and Equipment [Abstract]
Property and Equipment3.
PROPERTY AND EQUIPMENT Property
and equipment, net consists of the following (in thousands):
July
31, 2019 October
31, 2018
Leasehold improvements $ 2,335 $ 2,321
Laboratory equipment 5,030 5,510
Furniture and fixtures 746 746
Computer equipment 409 409
Construction
in progress 17 17
Total property and equipment 8,537 9,003
Accumulated
depreciation and amortization (2,945 ) (2,319 )
Net property
and equipment $ 5,592 $ 6,684 Depreciation
expense for each of the three months ended July 31, 2019 and 2018 was approximately $0.3 million. Depreciation expense for each
of the nine months ended July 31, 2019 and 2018 was approximately $0.8 million.

Intangible Assets

Intangible Assets9 Months Ended
Jul. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets4.
INTANGIBLE ASSETS Intangible
assets, net consist of the following (in thousands):
July
31, 2019 October
31, 2018
Patents $ 6,085 $ 5,970
Licenses 777 777
Software 117 117
Total intangibles 6,979 6,864
Accumulated
amortization (2,211 ) (2,026 )
Intangible
assets $ 4,768 $ 4,838 The
expirations of the existing patents range from 2019 to 2039 but the expirations can be extended based on market approval if granted
and/or based on existing laws and regulations. Capitalized costs associated with patent applications that are abandoned without
future value are charged to expense when the determination is made not to pursue the application. Patent applications having a
net book value of approximately $0.3 million and $0.1 million were abandoned and were charged to research and development expenses
in the statement of operations for the three months ended July 31, 2019 and 2018, respectively. Patent applications having a net
book value of approximately $0.6 million and $0.4 million were abandoned and were charged to research and development expenses
in the statement of operations for the nine months ended July 31, 2019 and 2018, respectively. Amortization expense for intangible
assets that was charged to general and administrative expense in the statement of operations aggregated approximately $0.1 million
for each of the three months ended July 31, 2019 and 2018, respectively. Amortization expense for intangible assets that was charged
to general and administrative expense in the statement of operations aggregated approximately $0.3 million for each of the nine
months ended July 31, 2019 and 2018, respectively. Management
has reviewed its long-lived assets for impairment whenever events and circumstances indicate that the carrying value of an asset
might not be recoverable. Net assets are recorded on the balance sheet for patents and licenses related to axalimogene filolisbac
(AXAL), ADXS-NEO, ADXS-HOT, ADXS-PSA and ADXS-HER2 and other products that are in development or out-licensed. However, if a competitor
were to gain FDA approval for a treatment before us or if future clinical trials fail to meet the targeted endpoints, the Company
would likely record an impairment related to these assets. In addition, if an application is rejected or fails to be issued, the
Company would record an impairment of its estimated book value. Lastly, if the Company is unable to raise enough capital to continue
funding our studies and developing our intellectual property, the Company would likely record an impairment to certain of these
assets. At
July 31, 2019, the estimated amortization expense by fiscal year based on the current carrying value of intangible assets is as
follows (in thousands):
Year
ended October 31,
2019 (Remaining) $ 96
2020 371
2021 352
2022 352
2023 352
Thereafter 3,245
Total $ 4,768

Accrued Expenses

Accrued Expenses9 Months Ended
Jul. 31, 2019
Payables and Accruals [Abstract]
Accrued Expenses5.
ACCRUED EXPENSES:
July
31, 2019 October
31, 2018
Salaries and other
compensation $ 812 $ 2,035
Vendors 2,333 3,660
Professional
fees 431 490
Total
accrued expenses $ 3,576 $ 6,185

Common Stock Purchase Warrants

Common Stock Purchase Warrants and Warrant Liability9 Months Ended
Jul. 31, 2019
Common Stock Purchase Warrants And Warrant Liability
Common Stock Purchase Warrants and Warrant Liability6.
COMMON STOCK PURCHASE WARRANTS AND WARRANT LIABILITY As
of July 31, 2019, there were outstanding warrants to purchase 31,380,804 shares of our common stock with exercise prices ranging
from $0.001 to $281.25 per share. Information on the outstanding warrants is as follows:
Exercise Number
of Shares Underlying Warrants Expiration
Date Summary
of Warrants
$ 2.80 18,229,500 April 2024 July 2019 Public Offering
$ 0.001 13,079,000 April 2024 July 2019 Public Offering- Pre-Funded
$ 281.25 25 N/A Other Warrants
$ 0.372 72,279 September 2024 September 2018 Public Offering
Grand
Total 31,380,804 As
of October 31, 2018, there were outstanding warrants to purchase 944,635 shares of our common stock with exercise prices ranging
from $22.50 to $281.25 per share. Information on the outstanding warrants is as follows:
Exercise Number
of Shares Underlying Warrants Expiration
Date Summary
of Warrants
$ 281.25 25 N/A Other Warrants
$ 56.25 166 March 2019 March 2014 Public Offering- Placement
Agent
$ 22.50 944,444 September 2024 September 2018 Public Offering
Grand
Total 944,635 A
summary of warrant activity was as follows (in thousands, except share and per share data):
Shares Weighted Aggregate
Outstanding and exercisable
warrants at October 31, 2018 944,635 $ 22.50 $ -
Issued 31,885,500 1.60
Exercised (592,300 ) 0.12
Exchanged (856,865 ) 22.50
Expired (166 ) 56.25
Outstanding
and exercisable warrants at July 31, 2019 31,380,804 $ 1.63 $ 7,259 As
of July 31, 2019, the Company had 31,308,525 of its total 31,380,804 outstanding warrants classified as equity (equity warrants).
As of October 31, 2018, the Company had 191 of its total 944,635 outstanding warrants classified as equity (equity warrants).
At issuance, equity warrants are recorded at their relative fair values, using the relative fair value method, in the stockholders’
equity section of the balance sheet. Shares
Issued in Settlement of Warrants On
March 14, 2019, the Company entered into private exchange agreements with certain holders of warrants issued in connection with
the Company’s September 2018 public offering of common stock and warrants. The warrants being exchanged provided for the
purchase of up to an aggregate of 856,865 shares of the Company’s common stock at an exercise price of $22.50, with an expiration
date of September 11, 2024. Pursuant to such exchange agreements, the Company issued 856,865 shares of common stock to the investors
in exchange for such warrants on a 1:1 basis. The exchange of warrants for common stock caused the down round provision to be
triggered and the exercise price of the warrants that were not exchanged were reduced from $22.50 to $4.50. The warrants were
valued at approximately $3.9 million on the March 14, 2019 using the Monte Carlo simulation model. In determining the fair warrant
of the warrants issued on March 14, 2019, the Company used the following inputs in its Monte Carlo simulation model exercise price
$22.50, stock price $6.45, expected term 5.50 years, volatility 96.37% and risk free interest rate 2.44%. In connection with the
exchange of warrants for common stock, the Company recorded a loss of approximately $1.6 million as the fair value of the shares
issued exceeded the fair value of warrants exchanged. Warrant
Liability As
of July 31, 2019, the Company had 72,279 of its total 31,380,804 outstanding warrants classified as liabilities (liability warrants).
As of October 31, 2018, the Company had 944,444 of its total 944,635 outstanding warrants classified as liabilities (liability
warrants). These warrants contain a down round feature, except for exempt issuances as defined in the warrant agreement, in which
the exercise price would immediately be reduced to match a dilutive issuance of common stock, options, convertible securities
and changes in option price or rate of conversion. In April 2019, the down round feature was triggered a second time due to the
sale of 2,500,000 common shares (see Note 10) and the exercise price of the warrants were reduced from $4.50 to $3.72. In July
2019, the down round feature was triggered a third time due to the sale of 10,650,000 common shares and 13,656,000 pre-funded
warrants (see Note 10) and the exercise price of the warrants were reduced from $3.72 to $0.372. The warrants require liability
classification as the warrant agreement requires the Company to maintain an effective registration statement and does not specify
any circumstances under which net cash settlement would be permitted or required. As a result, net cash settlement is assumed
and liability classification is warranted. For these liability warrants, the Company utilized the Monte Carlo simulation model
to calculate the fair value of these warrants at issuance and at each subsequent reporting date. As
of July 31, 2019 and October 31, 2018, the fair value of the warrant liability was approximately $36,000 and $6.5 million, respectively.
For the three and nine months ended July 31, 2019, the Company income of approximately $0.2 million and $2.6 million, respectively.
For each of the three and nine months ended July 31, 2018, the Company reported income of $0. In
measuring the warrant liability at July 31, 2019 and October 31, 2018, the Company used the following inputs in its Monte Carlo
simulation model:
July
31, 2019 October
31, 2018
Exercise Price $ 0.372 $ 22.50
Stock Price $ 0.56 $ 8.40
Expected Term 5.12
years 5.87
years
Volatility % 97.73 % 97.47 %
Risk Free Rate 1.84 % 3.03 %

Share Based Compensation

Share Based Compensation9 Months Ended
Jul. 31, 2019
Share-based Payment Arrangement [Abstract]
Share Based Compensation7.
SHARE BASED COMPENSATION The
following table summarizes share-based compensation expense included in the Statement of Operations (in thousands):
Three
Months Ended July 31, Nine
Months Ended July 31,
2019 2018 2019 2018
Research and development $ 241 $ 543 $ 822 $ 2,342
General
and administrative 223 1,409 743 3,645
Total $ 464 $ 1,952 $ 1,565 $ 5,987 Restricted
Stock Units (RSUs) A
summary of the Company’s RSU activity and related information for the nine months ended July 31, 2019 is as follows:
Number
of Weighted-Average
Grant
Balance at October 31, 2018 32,614 $ 70.41
Vested (10,949 ) 71.84
Cancelled (5,461 ) 110.24
Balance at July 31, 2019 16,204 $ 56.02 As
of July 31, 2019, there was approximately $0.4 million of unrecognized compensation cost related to non-vested RSUs, which is
expected to be recognized over a remaining weighted average vesting period of approximately 1.11 years. As
of July 31, 2019, the aggregate intrinsic value of non-vested RSU’s was approximately $9,000. Employee
Stock Awards Common
Stock issued to executives and employees related to vested incentive retention awards, employment inducements and management purchases
totaled 408 shares and 14,351 shares (12,683 shares on a net basis after employee taxes) during the three months ended July 31,
2019 and 2018, respectively. Total stock compensation expense associated with employee awards for the three months ended July
31, 2019 and 2018 was approximately $0.2 million and $0.9 million, respectively. Common
Stock issued to executives and employees related to vested incentive retention awards, employment inducements and management purchases
totaled 10,947 shares and 44,603 shares (41,579 shares on a net basis after employee taxes) during the nine months ended July
31, 2019 and 2018 respectively. Total stock compensation expense associated with employee awards for the nine months ended July
31, 2019 and 2018 was approximately $0.7 million and $2.9 million, respectively. Included
in compensation expense for the three and nine months ended July 31, 2018 is approximately $110,000 and $320,000, respectively,
recognized as a result of the modification of certain RSU’s associated with the resignation of the Company’s Chief
Financial Officer in April 2018 and Chief Operating Officer in June 2018. Pursuant to the separation agreements, the vesting was
accelerated on all of the outstanding RSU’s. Director
Stock Awards Common
stock issued to Directors for compensation related to board and committee membership totaled 0 shares and 3,000 shares for three
months ended July 31, 2019 and 2018, respectively. During the three months ended July 31, 2019 and 2018, total stock compensation
expense associated with Director awards was approximately $0 and $71,000 respectively. Common
stock issued to Directors for compensation related to board and committee membership totaled 0 shares and 5,000 shares for the
nine months ended July 31, 2019 and 2018, respectively. During the nine months ended July 31, 2019 and 2018, total stock compensation
expense associated with Director awards was $0 and $0.2 million, respectively. Included
in compensation expense for the nine months ended July 31, 2018 is approximately $10,000 recognized as a result of the modification
of certain RSU’s associated with a Board member that decided not to run for re-election in March 2018. The vesting was accelerated
on all the outstanding RSU’s. Stock
Options A
summary of changes in the stock option plan for the nine months ended July 31, 2019 is as follows:
Number
of Weighted-Average
Outstanding at October 31, 2018: 330,071 $ 122.79
Granted 106,132 5.44
Cancelled
or Expired (30,831 ) 33.18
Outstanding at July 31,
2019 405,372 98.88
Vested
and Exercisable at July 31, 2019 239,276 $ 155.72 Total
compensation cost related to the Company’s outstanding stock options, recognized in the statement of operations for the
three months ended July 31, 2019 and 2018 was approximately $0.3 million and $0.9 million, respectively. For the nine months ended
July 31, 2019 and 2018, compensation cost related to the Company’s outstanding stock options was approximately $0.9 million
and $2.9 million, respectively. Included in compensation expense for the nine months ended July 31, 2018 is approximately $77,000
recognized as a result of the modification of certain option agreements associated with two Board members that decided not to
run for re-election in March 2018. For the modified options, the vesting was accelerated and the expiration dates were changed
to the earlier of the original expiration date or March 21, 2023. As
of July 31, 2019, there was approximately $1.6 million of unrecognized compensation cost related to non-vested stock option awards,
which is expected to be recognized over a remaining weighted average vesting period of approximately 1.74 years. As
of July 31, 2019, the aggregate intrinsic value of vested and exercisable options was $0. In
determining the fair value of the stock options granted during the nine months ended July 31, 2019 and 2018, the Company used
the following inputs in its Black Scholes Merton model:
Nine
Months Ended July 31,
2019 2018
Expected Term 5.50-6.51
years 5.35
– 6.51 years
Expected Volatility 90.29%-104.99 % 94.61%-100.34 %
Expected Dividends 0 % 0 %
Risk Free Interest Rate 1.75%-3.15 % 1.81 –
2.93 % Employee
Stock Purchase Plan During
the nine months ended July 31, 2019, the Company issued 4,585 shares that were purchased under the 2018 Employee Stock Purchase
Plan. During
the nine months ended July 31, 2018, the Company issued 10,681 shares that were purchased under the 2011 & 2018 Employee Stock
Purchase Plans.

Collaboration and Licensing Agr

Collaboration and Licensing Agreements9 Months Ended
Jul. 31, 2019
Business Combinations [Abstract]
Collaboration and Licensing Agreements8.
COLLABORATION AND LICENSING AGREEMENTS Amgen On
August 1, 2016, the Company entered into a global agreement (the “Amgen Agreement”) with Amgen for the development
and commercialization of the Company’s ADXS-NEO, a then- preclinical investigational immunotherapy, using the Company’s
proprietary Listeria monocytogenes attenuated bacterial vector which activates a patient’s immune system to respond against
unique mutations, or neoepitopes, contained in and identified from an individual patient’s tumor. Under the terms of the
Amgen Agreement, Amgen received an exclusive worldwide license to develop and commercialize ADXS-NEO. Amgen made an upfront payment
to Advaxis of $40 million and purchased directly from Advaxis 203,163 shares of the Company’s common stock, at approximately
$123.00 per share (representing a purchase at market using a 20 day VWAP methodology) for a total of $25 million. Amgen assisted
in funding the clinical development and commercialization of ADXS-NEO and Advaxis retained manufacturing responsibilities. Advaxis
and Amgen collaborated through a joint steering committee for the development and commercialization of ADXS-NEO. Advaxis received
reimbursements for research and development costs and Advaxis was eligible to receive future contingent payments based on development,
regulatory and sales milestone payments of up to $475 million and high single digit to double digit royalty payments based on
worldwide sales by Amgen. The
Company assessed this arrangement in accordance with ASC 606 and concluded that the contract counterparty, Amgen, is a customer.
The Company identified the following material promises under the arrangement: (1) licenses, (2) research and development activities,
(3) clinical supplies, (4) regulatory responsibilities and (5) participation on a Joint Steering Committee (JSC). The Company
determined that the licenses and research and development activities were not distinct from another, as the licenses had limited
value without the performance of the research and development activities. Participation on the JSC to oversee the research and
development activities was determined to be quantitatively and qualitatively immaterial and therefore was excluded from performance
obligations. The clinical supply and regulatory responsibilities did not represent separate performance obligations based on their
dependence on the research and development efforts. Based on this assessment, the Company identified one performance obligation
at the outset of the Amgen Agreement, which consists of: (1) licenses, (2) research and development activities, (3) clinical supplies
and (4) regulatory responsibilities. Under
the Amgen Agreement, in order to evaluate the appropriate transaction price, the Company determined that the upfront amount of
$40 million constituted the entirety of the consideration to be included in the transaction price as of the outset of the arrangement,
which is allocated to the single performance obligation. The Company concluded that a time-based method was most appropriate to
measuring progress toward completion given that the research and development services are satisfied reasonably evenly over the
agreement and the Company has a stand-ready obligation to perform over such time. Accordingly, progress toward completion and
related revenue recognition is measured using the input method of time elapsed relative to the estimated timeline for Advaxis
to submit the Phase 2 package to Amgen, or perform the contractual research and development services, which was the predominant
promise in the Company’s combined performance obligation to Amgen. The
reimbursement for the research and development costs was variable consideration that was included in the transaction price at
the outset, subject to the constraint. The Company estimated the consideration from the reimbursement of the research and development
costs using the most-likely amount. When the research and development costs are no longer constrained, they are added to the transaction
price for the single, combined performance obligation and recognized over the same recognition period as the rest of the performance
obligation’s allocated revenue. The potential milestone and sales-based royalty payments that the Company was eligible to
receive were excluded from the transaction price, as all milestone and sales royalty amounts were fully constrained based on the
probability of achievement. The Company reevaluated the transaction price at the end of each reporting period and as uncertain
events were resolved or other changes in circumstances occurred, and, as necessary, adjusted its estimate of the transaction price. On
December 10, 2018, the Company received a written notice of termination from Amgen with respect to the Amgen Agreement. The termination
became effective as of February 8, 2019. The Company is currently enrolling patients in its ADXS-NEO program and evaluating its
options for partnering the program. Pursuant to the terms of the Amgen Agreement, upon Amgen’s termination, the license
to Amgen terminated and the Company regained worldwide rights for the development and commercialization of its ADXS-NEO program. The
remaining deferred revenue of approximately $18.2 million on December 10, 2018 related to the $40 million non-refundable, up-front
payment received from Amgen was accounted for as of the modification date. As of that notification date, the Company adjusted
revenue on a cumulative catch-up basis considering the revised measure of progress for the combined performance obligation based
on the modified service period up to and through the contract termination date of February 8, 2019. The Company recognized cumulative
catch-up revenue of approximately $15.6 million on December 10, 2018. The remaining $2.6 million was recognized over the subsequent
60 days until the performance obligation was satisfied on February 8, 2019. During
the three months ended July 31, 2019 and 2018, the Company recognized revenue from the Amgen Agreement of approximately $0 and
$1.1 million, respectively. During the nine months ended July 31, 2019 and 2018, the Company recognized revenue from the Amgen
Agreement of approximately $20.6 million and $4.7 million, respectively. During the three and nine months ended July 31, 2018,
Company recorded reductions in research and development expenses of approximately $1.4 million and $4.5 million, respectively,
pertaining to the reimbursement of research and development costs. During the three and nine months ended July 31, 2019, the reimbursement
of research and development costs of approximately $0 million and $2.0 million, respectively, was included in revenue. Aratana
Therapeutics On
March 19, 2014, the Company and Aratana entered into a definitive Exclusive License Agreement (the “Aratana Agreement”).
Pursuant to the Agreement, Advaxis granted Aratana an exclusive, worldwide, royalty-bearing, license, with the right to sublicense,
certain Advaxis proprietary technology that enables Aratana to develop and commercialize animal health products that will be targeted
for treatment of osteosarcoma and other cancer indications in animals. Under the terms of the Aratana Agreement, Aratana paid
an upfront payment to the Company, of $1 million. As this license has stand-alone value to Aratana (who has the ability to sublicense)
and was delivered to Aratana, upon execution of the Aratana Agreement, the Company recorded the $1 million payment as licensing
revenue during the year ended October 31, 2014. Aratana will also pay the Company up to an additional $36.5 million based on the
achievement of certain milestones with respect to the advancement of products pursuant to the terms of the Aratana Agreement.
In addition, Aratana may pay the Company an additional $15 million in cumulative sales milestones pursuant to the terms of the
Aratana Agreement. During
the year ended October 31, 2018, the USDA’s Center for Veterinary Biologics granted Aratana conditional approval for its
canine osteosarcoma vaccine using Advaxis’ technology. During the three months ended July 31, 2019 and 2018, Advaxis recognized
royalty revenue totaling approximately $6,000 and $2,000, respectively, from Aratana’s sales of the canine osteosarcoma
vaccine. During the nine months ended July 31, 2019 and 2018, Advaxis recognized royalty revenue totaling approximately $8,000
and $3,000, respectively, from Aratana’s sales of the canine osteosarcoma vaccine. On July 16, 2019, Aratana announced their
shareholders approved a merger agreement with Elanco Animal Health (Elanco) whereby Elanco will be the majority shareholder in
Aratana. All of the terms of the Aratana Agreement remain in effect. Global
BioPharma Inc. On
December 9, 2013, the Company entered into an exclusive licensing agreement for the development and commercialization of axalimogene
filolisbac with Global BioPharma, Inc. (GBP), a Taiwanese based biotech company funded by a group of investors led by Taiwan Biotech
Co., Ltd (TBC). GBP
is planning to conduct a randomized Phase 2, open-label, controlled trial in HPV-associated NSCLC in patients following first-line
induction chemotherapy. GBP has obtained Taiwanese regulatory approval for this trial and plans to initiate this trial in 2019.
This trial will be fully funded exclusively by GBP and GBP will be responsible for all clinical development and commercialization
costs in the GBP territory and GBP is committed to establishing manufacturing capabilities for its own. Under the terms of the
agreement, the Company will exclusively license the rights of axalimogene filolisbac to GBP for the Asia, Africa, and former USSR
territory, exclusive of India and certain other countries, for all HPV-associated indications. Advaxis will retain exclusive rights
to axalimogene filolisbac for the rest of the world. During
each of the nine months ended July 31, 2019 and 2018, the Company recorded $0.25 million in revenue for the annual license fee
renewal. Since Advaxis has no significant obligation to perform after the license transfer and has provided GBP with the right
to use its intellectual property, performance is satisfied when the license renews. In addition, GBP paid $2.25 million to the
contract research organization that manages the Company’s AIM2CERV clinical trial. On June 27, 2019, Advaxis announced that
it is closing the AIM2CERV Phase 3 clinical trial with AXAL in high-risk locally advanced cervical cancer.

Commitments and Contingencies

Commitments and Contingencies9 Months Ended
Jul. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies9.
COMMITMENTS AND CONTINGENCIES Legal
Proceedings Stendhal On
September 19, 2018, Stendhal filed a Demand for Arbitration before the International Centre for Dispute Resolution (Case No. 01-18-0003-5013)
relating to the Co-development and Commercialization Agreement with Especificos Stendhal SA de CV (the “Stendhal Agreement”).
In the demand, Stendhal alleged that (i) the Company breached the Stendhal Agreement when it made certain statements regarding
its AIM2CERV program, (ii) that Stendhal was subsequently entitled to terminate the Agreement for cause, which it did so at the
time and (iii) that the Company owes Stendhal damages pursuant to the terms of the Stendhal Agreement. Stendhal is seeking to
recover $3 million paid to the Company in 2017 as support payments for the AIM2CERV clinical trial along with approximately $0.3
million in expenses incurred. Stendhal is also seeking fees associated with the arbitration and interest. The Company has answered
Stendhal’s Demand for Arbitration and denied that it breached the Stendhal Agreement. The Company also alleges that Stendhal
breached its obligations to the Company by, among other things, failing to make support payments that became due in 2018 and that
Stendhal therefore owes the Company $3 million. On
April 2, 2019, the Arbitrator denied the Company’s early application for summary disposition of Stendhal’s claims.
No reasoning was provided. On April 26, 2019, Stendhal served its Statement of Claim, and on May 23, 2019, the Company served
its Statement of Defense and Counterclaim. A hearing for the arbitration is scheduled to begin on October 21, 2019. At this time,
the Company is unable to predict the likelihood of an unfavorable outcome.

Stockholders' Equity

Stockholders' Equity9 Months Ended
Jul. 31, 2019
Equity [Abstract]
Stockholders' Equity10.
STOCKHOLDERS’ EQUITY A
summary of the changes in stockholders’ equity for the three and nine months ended July 31, 2019 and 2018 is presented below
(in thousands, except share data):
Preferred
Stock Common
Stock Additional
Paid-In Accumulated Total
Shareholders’
Shares Amount Shares Amount Capital Deficit Equity
Balance at November 1, 2017 - $ - 2,744,196 $ 3 $ 355,400 $ (301,142 ) $ 54,261
Stock based compensation 13,003 - 2,854 - 2,854
Tax withholdings paid related
to net share settlement of equity awards - - (7 ) - (7 )
Tax withholdings paid on equity
awards - - (209 ) - (209 )
Tax shares sold to pay for tax
withholdings on equity awards - - 197 - 197
Issuance of shares to employees
under ESPP Plan - - - - -
Advaxis at-the-market sales 58,776 - 2,659 - 2,659
Net Loss - - - (20,492 ) (20,492 )
Balance at January 31, 2018 - $ - 2,815,975 $ 3 $ 360,894 $ (321,634 ) $ 39,263
Stock based compensation 17,873 - 1,225 - 1,225
Tax withholdings paid related
to net share settlement of equity awards - - (33 ) - (33 )
Tax withholdings paid on equity
awards - - (61 ) - (61 )
Tax shares sold to pay for tax
withholdings on equity awards - - 78 - 78
Issuance of shares to employees
under ESPP Plan 712 - 9 - 9
Advaxis public offerings 666,667 1 18,382 - 18,383
Net Loss - - - (13,407 ) (13,407 )
Balance at April 30, 2018 - $ - 3,501,227 $ 4 $ 380,494 $ (335,041 ) $ 45,457
Stock based compensation 15,683 - 1,953 - 1,953
Tax withholdings paid related
to net share settlement of equity awards - - (47 ) - (47 )
Tax withholdings paid on equity
awards - - (188 ) - (188 )
Tax shares sold to pay for tax
withholdings on equity awards - - 163 - 163
Issuance of shares to employees
under ESPP Plan 341 - 7 - 7
ESPP expense - - 4 - 4
Net loss - - - (14,017 ) (14,017 )
Balance at July 31, 2018 - $ - 3,517,251 $ 4 $ 382,386 $ (349,058 ) $ 33,332
Preferred
Stock Common
Stock Additional Accumulated Total
Shares Amount Shares Amount Capital Deficit Equity
Balance at November 1, 2018 - $ - 4,634,189 $ 5 $ 391,703 $ (367,657 ) $ 24,051
Stock based compensation 9,811 - 622 - 622
Tax withholdings paid on equity
awards - - (11 ) - (11 )
Tax shares sold to pay for tax
withholdings on equity awards - - 11 - 11
Issuance of shares to employees
under ESPP Plan 2,007 - 9 - 9
ESPP Expense - - 1 1
Net Income - - 12,817 12,817
Balance at January 31, 2019 - $ - 4,646,007 $ 5 $ 392,335 $ (354,840 ) $ 37,500
Stock based compensation 693 - 479 - 479
Tax withholdings paid on equity
awards - - (3 ) - (3 )
Tax shares sold to pay for tax
withholdings on equity awards - - 3 - 3
Issuance of shares to employees
under ESPP Plan 1,505 - 7 - 7
Warrant exercises 15,300 - 68 - 68
Warrant liability reclassified
into equity - - 53 - 53
ESPP Expense - - 1 1
Shares issued in settlement of
warrants 856,865 1 5,462 - 5,463
Advaxis public offerings 2,500,000 2 8,980 - 8,982
Net Loss - - - (9,383 ) (9,383 )
Balance at April 30, 2019 - $ - 8,020,370 $ 8 $ 407,385 $ (364,223 ) $ 43,170
Stock based compensation 408 464 - 464
Tax withholdings paid on equity
awards - - (1 ) - (1 )
Tax shares sold to pay for tax
withholdings on equity awards - - 1 - 1
Issuance of shares to employees
under ESPP Plan 1,073 - 3 - 3
Shares issued in settlement of
warrants 577,000 1 - - 1
Advaxis public offerings 10,650,000 11 15,478 - 15,489
Net Loss - - - (9,858 ) (9,858 )
Balance at July 31, 2019 - $ - 19,248,851 $ 20 $ 423,330 $ (374,081 ) $ 49,269 During
the nine months ended July 31, 2018, the Company sold 58,775 shares of its Common Stock at-the-market transactions resulting in
net proceeds of approximately $2.7 million. During
February 2018, the Company issued 666,667 shares of the Company’s common stock in a public offering at $30.00 per share,
less underwriting discounts and commissions. The net proceeds to the Company from the transaction was approximately $18.4 million. On
February 21, 2019, the Company’s stockholders voted to approve an amendment to increase the number of authorized shares
of common stock from 95,000,000 to 170,000,000 and also voted to approve an amendment to allow the Company to execute a reverse
stock split of common stock at the discretion of the Board of Directors. The amendment to increase the number of authorized shares
of common stock became effective upon filing of the amendment with the Secretary of State of the State of Delaware on February
28, 2019. Additionally, on March 29, 2019, the Company executed a 1 for 15 reverse stock split. During
April 2019, the Company issued 2,500,000 shares of the Company’s common stock in a public offering at $4.00 per share, less
underwriting discounts and commissions. The net proceeds to the Company from the transaction was approximately $9 million. In
July 2019, the Company closed on an underwritten public offering of 10,650,000 shares of its common stock, pre-funded warrants
to purchase 13,656,000 shares of common stock and warrants to purchase up to 17,142,000 shares of common stock at a public offering
price of $1.20, for gross proceeds of $17.0 million. Each share of common stock or pre-funded warrant was sold together in a fixed
combination with a warrant to purchase 0.75 shares of common stock. The pre-funded warrants are exercisable immediately, do not
expire and have an exercise price of $0.001 per share. The warrants are exercisable immediately, expire five years from the date
of issuance, have an exercise price of $2.80 per share and are subject
to anti-dilution and other adjustments for certain stock splits, stock
dividends, or recapitalizations. The warrants also provide that if during the period of
time between the date that is the earlier of (i) 30 days after issuance and (ii) if the common stock trades an aggregate of more
than 35,000,000 shares after the pricing of the offering, and ending 15 months after issuance, the weighted-average price of common
stock immediately prior to the exercise date is lower than the then-applicable exercise price per share, each Common Warrant may
be exercised, at the option of the holder, on a cashless basis for one share of Common Stock. After deducting the underwriting
discounts and commissions and other offering expenses, the net proceeds from the offering were approximately $15.5 million.

Fair Value

Fair Value9 Months Ended
Jul. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value11.
FAIR VALUE The
authoritative guidance for fair value measurements defines fair value as the exchange price that would be received for an asset
or paid to transfer a liability (an exit price) in the principal or the most advantageous market for the asset or liability in
an orderly transaction between market participants on the measurement date. Market participants are buyers and sellers in the
principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact, and (iv) willing to transact. The guidance
describes a fair value hierarchy based on the levels of inputs, of which the first two are considered observable and the last
unobservable, that may be used to measure fair value which are the following: ●
Level 1 — Quoted prices in active markets for identical assets or liabilities. ●
Level 2— Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar
assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or corroborated by observable
market data or substantially the full term of the assets or liabilities. ●
Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the value of
the assets or liabilities. The
following table provides the assets and liabilities carried at fair value measured on a recurring basis as of July 31, 2019 and
October 31, 2018 (in thousands):
July
31, 2019 Level
1 Level
2 Level
3 Total
Common stock warrant
liability, warrants exercisable at $0.372 through September 2024 - - $ 36 $ 36
October
31, 2018 Level
1 Level
2 Level
3 Total
Common stock warrant
liability, warrants exercisable at $22.50 through September 2024 - - $ 6,517 $ 6,517 The following
table sets forth a summary of the changes in the fair value of the Company’s warrant liabilities (in thousands):
July
31, 2019
Beginning balance $ 6,517
Shares issued in settlement
of warrants (3,856 )
Warrant exercises (53 )
Change
in fair value (2,572 )
Ending
Balance $ 36

Subsequent Events

Subsequent Events9 Months Ended
Jul. 31, 2019
Subsequent Events [Abstract]
Subsequent Events12.
SUBSEQUENT EVENTS On
September 3, 2019, the Company received a written notice from Nasdaq indicating that the Company is not in compliance with
the minimum bid price requirement for continued listing on the Nasdaq Global Select Market. The Company has until March 2,
2020 to regain compliance. The Company can regain compliance if at any time prior to March 2, 2020 the bid price of its
common stock closes at or above $1.00 per share for a minimum of ten consecutive business days. If the Company fails to
regain compliance with the minimum bid price requirement by March 2, 2020, the Company may apply to transfer to The Nasdaq
Global Select Market where the Company should be afforded an additional 180-day period to regain compliance provided that (i)
the Company meets the applicable market value of publicly held shares requirement for continued listing and all other
applicable requirements for initial listing on the Nasdaq Global Select Market (except for the bid price requirement) based
on the Company’s most recent public filings and market information and (ii) the Company notifies Nasdaq of its intent
to cure the bid price requirement deficiency prior to the completion of the second 180-day compliance period by effecting
a reverse stock split, if necessary. Subsequent
to the balance sheet date, the Company received proceeds of $5,030 from the exercise of pre-funded warrants for a total
of 5,030,000 shares of common stock. Subsequent
to the balance sheet date, warrants were cashlessly exercised for 430,162 shares of common stock.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies and Basis of Presentation (Policies)9 Months Ended
Jul. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation/EstimatesBasis
of Presentation/Estimates The
accompanying unaudited interim condensed financial statements and related notes have been prepared in accordance with accounting
principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, and
in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) with respect to Form
10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S.
GAAP for complete financial statements and the accompanying unaudited condensed balance sheet as of July 31, 2019 has been derived
from the Company’s October 31, 2018 audited financial statements. In the opinion of management, the unaudited interim condensed
financial statements furnished include all adjustments (consisting of normal recurring accruals) necessary for a fair statement
of the results for the interim periods presented. Operating
results for interim periods are not necessarily indicative of the results to be expected for the full year. The preparation of
financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported
amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during
the reporting period. Significant estimates include the timelines associated with revenue recognition on upfront payments received,
fair value and recoverability of the carrying value of property and equipment and intangible assets, fair value of warrant liability,
grant date fair value of options, deferred tax assets and any related valuation allowance and related disclosure of contingent
assets and liabilities. On an on-going basis, the Company evaluates its estimates, based on historical experience and on various
other assumptions that it believes to be reasonable under the circumstances. Actual results could materially differ from these
estimates. These
unaudited interim condensed financial statements should be read in conjunction with the financial statements of the Company as
of and for the year ended October 31, 2018 and notes thereto contained in the Company’s annual report on Form 10-K, as filed
with the SEC on January 11, 2019.
ReclassificationReclassification Certain
amounts in the prior period financial statements have been reclassified to conform to the presentation of the current period financial
statements. These reclassifications had no effect on the previously reported net loss.
Concentration of Credit RiskConcentration
of Credit Risk Financial
instruments which potentially subject the Company to concentration of credit risk, consist principally of cash and cash equivalents.
All of the Company’s cash and cash equivalents are deposited in accounts with financial institutions that management believes
are of high credit quality and at times exceed the federally insured limits. The Company had not experienced losses in such accounts
and believes it is not exposed to any significant credit risk.
Restricted Cash and Letters of CreditRestricted
Cash and Letters of Credit During
July 2017 and January 2018, the Company established two letters of credit with a financial institution as security for the purchase
of custom equipment and as security for application fees associated with the Company’s Marketing Authorization Application
(“MAA”) in Europe. The letters of credit were collateralized by cash which was unavailable for withdrawal or for usage
for general obligations. During the nine months ended July 31, 2019, the two letters of credit were terminated and as of July
31, 2019 the Company has no restricted cash balance.
Net Income (Loss) Per ShareNet
Income (Loss) per Share Basic
net income or loss per common share is computed by dividing net income or loss available to common stockholders by the weighted
average number of common shares outstanding during the period. Diluted earnings per share give effect to dilutive options, warrants,
restricted stock units and other potential common stock outstanding during the period. In the case of a net loss, the impact of
the potential common stock resulting from warrants, outstanding stock options and convertible debt are not included in the computation
of diluted loss per share, as the effect would be anti-dilutive. In the case of net income, the impact of the potential common
stock resulting from these instruments that have intrinsic value are included in the diluted earnings per share. The table sets
forth the number of potential shares of common stock that have been excluded from diluted net loss per share (as of July 31, 2019,
13,079,000 pre-funded warrants are included in the basic earnings per share computation because the exercise price is nominal):
As
of July 31,
2019 2018
Warrants 18,301,804 206,160
Stock options 405,372 353,258
Restricted
stock units 16,204 47,100
Total 18,723,380 606,518
Revenue RecognitionRevenue
Recognition Effective
November 1, 2018, the Company adopted ASC Topic 606, Revenue form Contracts with Customers (ASC 606), using the modified retrospective
transition method. Under this method, results for reporting periods beginning on November 1, 2018 are presented under ASC 606,
while prior period amounts are not adjusted and continue to be reported in accordance with ASC Topic 605, Revenue Recognition
The
Company enters into licensing agreements that are within the scope of ASC 606, under which it may exclusively license rights to
research, develop, manufacture and commercialize its product candidates to third parties. The terms of these arrangements typically
include payment to the Company of one or more of the following: non-refundable, upfront license fees; reimbursement of certain
costs; customer option exercise fees; development, regulatory and commercial milestone payments; and royalties on net sales of
licensed products. In
determining the appropriate amount of revenue to be recognized as it fulfills its obligations under its agreements, the Company
performs the following steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether
the promised goods or services are performance obligations including whether they are distinct in the context of the contract;
(iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction
price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation.
As part of the accounting for these arrangements, the Company must use significant judgment to determine: (a) the number of performance
obligations based on the determination under step (ii) above; (b) the transaction price under step (iii) above; and (c) the stand-alone
selling price for each performance obligation identified in the contract for the allocation of transaction price in step (iv)
above. The Company uses judgment to determine whether milestones or other variable consideration, except for royalties, should
be included in the transaction price as described further below. The transaction price is allocated to each performance obligation
on a relative stand-alone selling price basis, for which the Company recognizes revenue as or when the performance obligations
under the contract are satisfied. Amounts
received prior to revenue recognition are recorded as deferred revenue. Amounts expected to be recognized as revenue within the
12 months following the balance sheet date are classified as current portion of deferred revenue in the accompanying balance sheets.
Amounts not expected to be recognized as revenue within the 12 months following the balance sheet date are classified as deferred
revenue, net of current portion. Exclusive
Licenses. Research
and Development Services. Milestone
Payments. Royalties.
Collaborative ArrangementsCollaborative
Arrangements The
Company analyzes its collaboration arrangements to assess whether such arrangements involve joint operating activities performed
by parties that are both active participants in the activities and exposed to significant risks and rewards dependent on the commercial
success of such activities and therefore within the scope of ASC Topic 808, Collaborative Arrangements
Recent Accounting StandardsRecent
Accounting Standards In
February 2016, the Financial Accounting Standards Board, (“FASB”), issued Accounting Standards Update, (“ASU”),
No. 2016-02, Leases (Topic 842), which establishes a comprehensive new lease accounting model. The new standard: (a) clarifies
the definition of a lease; (b) requires a dual approach to lease classification similar to current lease classifications; and
(c) causes lessees to recognize leases on the balance sheet as a lease liability with a corresponding right-of-use asset for leases
with a lease-term of more than 12 months. The new standard is effective for fiscal years and interim periods beginning after December
15, 2018, with early adoption permitted. A modified retrospective transition approach is required for leases existing at, or entered
into after, the beginning of the earliest comparative period presented in the financial statements, including a number of optional
practical expedients that entities may elect to apply. In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted
Improvements, an update which provides another transition method, in addition to the existing modified retrospective transition
method, by allowing entities to initially apply the new lease standard at the adoption date and recognize a cumulative-effect
adjustment to the opening balance of retained earnings in the period of adoption. The Company is currently evaluating the impact
of adopting ASU 2016-02 on the Company’s financial statements.
Recently Adopted Accounting StandardsRecently
Adopted Accounting Standards In
May 2014, FASB issued ASU No. 2014-09, which amends the guidance for accounting for revenue from contracts with customers. ASU
No. 2014-09 superseded the revenue recognition requirements in ASC 605 and created ASC 606 described above. In 2015 and 2016,
the FASB issued additional ASUs related to ASC 606 that delayed the effective date of the guidance and clarified various aspects
of the new revenue guidance, including principal versus agent considerations, identifying performance obligations, and licensing,
and they include other improvements and practical expedients. Effective November 1, 2018, the Company adopted ASC 606 using the
modified retrospective transition method. As
a result of adopting ASC 606, the Company made reclassifications to the balance sheet and income statement. Net income (loss)
was not impacted by the adoption of ASC 606. A summary of the amount by which each financial statement line item was affected
by the impact of the cumulative adjustment is set forth in the table below (in thousands):
Impact
of ASC 606 Adoption on Condensed
Balance Sheet as
of November 1, 2018
(in
thousands) As
reported Adjustments Balances
without adoption of ASC 606
Accounts receivable $ 1,664 $ 1,664 $ -
Prepaid expenses and other current
assets $ 1,611 $ (1,664 ) $ 3,275 A
summary of the amount by which each financial statement line item was affected in the current reporting period by ASC 606 as compared
with the guidance that was in effect prior to the adoption of ASC 606 is set forth in the tables below.
Impact
of ASC 606 Adoption on Condensed
Balance Sheet as
of July 31, 2019
(in
thousands) As
reported Adjustments Balances
without adoption of ASC 606
Accounts
receivable $ - $ - $ -
Prepaid expenses
and other current assets $ 1,571 $ - $ 1,571
Impact
of ASC 606 Adoption on Condensed
Statement of Operations for
the Three Months Ended July 31, 2019
(in
thousands) As
reported under ASC 606 Adjustments Balances
without adoption of ASC 606
Revenue $ 6 $ - $ 6
Research and
Development Expenses $ 7,060 $ - $ 7,060
Impact
of ASC 606 Adoption on Condensed
Statement of Operations for
the Nine Months Ended July 31, 2019
(in
thousands) As
reported under ASC 606 Adjustments Balances
without adoption of ASC 606
Revenue $ 20,883 1,960 18,923
Research and
Development Expenses $ 19,735 1,960 17,775
Impact
of ASC 606 Adoption on Condensed
Statement of Cash Flows for
the Nine Months Ended July 31, 2019
(in
thousands) As
reported under ASC 606 Adjustments Balances
without adoption of ASC 606
Accounts
receivable $ - $ - $ -
Prepaid expenses
and other current assets $ 1,571 - 1,571 The
most significant change to the Company’s accounting for revenue as a result of the adoption of ASC 606 relates to its treatment
of clinical development payments it receives in its collaboration and licensing agreement with Amgen, Inc. (“Amgen”).
Under ASC 605, the Company accounted for the clinical development payments as a reduction of research and development expenses
in the statement of operations. Under ASC 606, the Company accounted for the reimbursements for research and development costs
as revenue. For further discussion of the adoption of this standard, see Note 8. In
November 2018, the FASB issued ASU No. 2018-18, “Collaborative Arrangements (Topic 808)—Clarifying the Interaction
between Topic 808 and Topic 606” (“ASU 2018-18”). The amendments in ASU 2018-18 make targeted improvements to
generally accepted accounting principles (GAAP) for collaborative arrangements by clarifying that certain transactions between
collaborative arrangement participants should be accounted for as revenue under Topic 606 when the collaborative arrangement participant
is a customer in the context of a unit of account. In those situations, all the guidance in Topic 606 should be applied, including
recognition, measurement, presentation, and disclosure requirements. In addition, unit-of-account guidance in Topic 808 was aligned
with the guidance in Topic 606 (that is, a distinct good or service) when an entity is assessing whether the collaborative arrangement
or a part of the arrangement is within the scope of Topic 606. ASU 2018-18 is effective for fiscal years beginning after December
15, 2019, and interim periods within those fiscal years. Early adoption is permitted, including adoption in any interim period.
The amendments should be applied retrospectively to the date of initial application of Topic 606. The Company adopted this guidance
effective November 1, 2018 using the modified retrospective approach. There was no impact on the Company’s financial statements. In
June 2018, the FASB issued ASU No. 2018-07, “Compensation—Stock Compensation (Topic 718) —Improvements to Nonemployee
Share-Based Payment Accounting” (“ASU 2018-07”). The amendments in ASU 2018-07 expand the scope of Topic 718
to include share-based payment transactions for acquiring goods and services from nonemployees. An entity should apply the requirements
of Topic 718 to nonemployee awards except for specific guidance on inputs to an option pricing model and the attribution of cost
(that is, the period of time over which share-based payment awards vest and the pattern of cost recognition over that period).
The amendments specify that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services
to be used or consumed in a grantor’s own operations by issuing share-based payment awards. The amendments also clarify
that Topic 718 does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted
in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts
with Customers. ASU 2018-07 is effective for public business entities for fiscal years beginning after December 15, 2018, including
interim periods within that fiscal year. Early adoption is permitted, but no earlier than an entity’s adoption date of Topic
606. The Company adopted this guidance effective as of February 1, 2019. There was no impact on the Company’s financial
statements. In
November 2016, the FASB issued ASU No. 2016-18, Restricted Cash Management
does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material
impact on the accompanying condensed financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies and Basis of Presentation (Tables)9 Months Ended
Jul. 31, 2019
Accounting Policies [Abstract]
Schedule of Anti-dilutive Securities Excluded from Diluted Net Loss Per ShareThe table sets
forth the number of potential shares of common stock that have been excluded from diluted net loss per share (as of July 31, 2019,
13,079,000 pre-funded warrants are included in the basic earnings per share computation because the exercise price is nominal):
As
of July 31,
2019 2018
Warrants 18,301,804 206,160
Stock options 405,372 353,258
Restricted
stock units 16,204 47,100
Total 18,723,380 606,518
Schedule of Reclassifications to Balance Sheet and Income StatementA summary of the amount by which each financial statement line item was affected
by the impact of the cumulative adjustment is set forth in the table below (in thousands):
Impact
of ASC 606 Adoption on Condensed
Balance Sheet as
of November 1, 2018
(in
thousands) As
reported Adjustments Balances
without adoption of ASC 606
Accounts receivable $ 1,664 $ 1,664 $ -
Prepaid expenses and other current
assets $ 1,611 $ (1,664 ) $ 3,275 A
summary of the amount by which each financial statement line item was affected in the current reporting period by ASC 606 as compared
with the guidance that was in effect prior to the adoption of ASC 606 is set forth in the tables below.
Impact
of ASC 606 Adoption on Condensed
Balance Sheet as
of July 31, 2019
(in
thousands) As
reported Adjustments Balances
without adoption of ASC 606
Accounts
receivable $ - $ - $ -
Prepaid expenses
and other current assets $ 1,571 $ - $ 1,571
Impact
of ASC 606 Adoption on Condensed
Statement of Operations for
the Three Months Ended July 31, 2019
(in
thousands) As
reported under ASC 606 Adjustments Balances
without adoption of ASC 606
Revenue $ 6 $ - $ 6
Research and
Development Expenses $ 7,060 $ - $ 7,060
Impact
of ASC 606 Adoption on Condensed
Statement of Operations for
the Nine Months Ended July 31, 2019
(in
thousands) As
reported under ASC 606 Adjustments Balances
without adoption of ASC 606
Revenue $ 20,883 1,960 18,923
Research and
Development Expenses $ 19,735 1,960 17,775
Impact
of ASC 606 Adoption on Condensed
Statement of Cash Flows for
the Nine Months Ended July 31, 2019
(in
thousands) As
reported under ASC 606 Adjustments Balances
without adoption of ASC 606
Accounts
receivable $ - $ - $ -
Prepaid expenses
and other current assets $ 1,571 - 1,571

Property and Equipment (Tables)

Property and Equipment (Tables)9 Months Ended
Jul. 31, 2019
Property, Plant and Equipment [Abstract]
Schedule of Property and EquipmentProperty
and equipment, net consists of the following (in thousands):
July
31, 2019 October
31, 2018
Leasehold improvements $ 2,335 $ 2,321
Laboratory equipment 5,030 5,510
Furniture and fixtures 746 746
Computer equipment 409 409
Construction
in progress 17 17
Total property and equipment 8,537 9,003
Accumulated
depreciation and amortization (2,945 ) (2,319 )
Net property
and equipment $ 5,592 $ 6,684

Intangible Assets (Tables)

Intangible Assets (Tables)9 Months Ended
Jul. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible AssetsIntangible
assets, net consist of the following (in thousands):
July
31, 2019 October
31, 2018
Patents $ 6,085 $ 5,970
Licenses 777 777
Software 117 117
Total intangibles 6,979 6,864
Accumulated
amortization (2,211 ) (2,026 )
Intangible
assets $ 4,768 $ 4,838
Schedule of Carrying Value of Intangible AssetsAt
July 31, 2019, the estimated amortization expense by fiscal year based on the current carrying value of intangible assets is as
follows (in thousands):
Year
ended October 31,
2019 (Remaining) $ 96
2020 371
2021 352
2022 352
2023 352
Thereafter 3,245
Total $ 4,768

Accrued Expenses (Tables)

Accrued Expenses (Tables)9 Months Ended
Jul. 31, 2019
Payables and Accruals [Abstract]
Schedule of Accrued Expenses July
31, 2019 October
31, 2018
Salaries and other
compensation $ 812 $ 2,035
Vendors 2,333 3,660
Professional
fees 431 490
Total
accrued expenses $ 3,576 $ 6,185

Common Stock Purchase Warrant_2

Common Stock Purchase Warrants and Warrant Liability (Tables)9 Months Ended
Jul. 31, 2019
Common Stock Purchase Warrants And Warrant Liability
Schedule of Outstanding WarrantsAs
of July 31, 2019, there were outstanding warrants to purchase 31,380,804 shares of our common stock with exercise prices ranging
from $0.001 to $281.25 per share. Information on the outstanding warrants is as follows:
Exercise Number
of Shares Underlying Warrants Expiration
Date Summary
of Warrants
$ 2.80 18,229,500 April 2024 July 2019 Public Offering
$ 0.001 13,079,000 April 2024 July 2019 Public Offering- Pre-Funded
$ 281.25 25 N/A Other Warrants
$ 0.372 72,279 September 2024 September 2018 Public Offering
Grand
Total 31,380,804 As
of October 31, 2018, there were outstanding warrants to purchase 944,635 shares of our common stock with exercise prices ranging
from $22.50 to $281.25 per share. Information on the outstanding warrants is as follows:
Exercise Number
of Shares Underlying Warrants Expiration
Date Summary
of Warrants
$ 281.25 25 N/A Other Warrants
$ 56.25 166 March 2019 March 2014 Public Offering- Placement
Agent
$ 22.50 944,444 September 2024 September 2018 Public Offering
Grand
Total 944,635
Schedule of Warrants ActivityA
summary of warrant activity was as follows (in thousands, except share and per share data):
Shares Weighted Aggregate
Outstanding and exercisable
warrants at October 31, 2018 944,635 $ 22.50 $ -
Issued 31,885,500 1.60
Exercised (592,300 ) 0.12
Exchanged (856,865 ) 22.50
Expired (166 ) 56.25
Outstanding
and exercisable warrants at July 31, 2019 31,380,804 $ 1.63 $ 7,259
Schedule of Assumptions Used in Warrant LiabilityIn
measuring the warrant liability at July 31, 2019 and October 31, 2018, the Company used the following inputs in its Monte Carlo
simulation model:
July
31, 2019 October
31, 2018
Exercise Price $ 0.372 $ 22.50
Stock Price $ 0.56 $ 8.40
Expected Term 5.12
years 5.87
years
Volatility % 97.73 % 97.47 %
Risk Free Rate 1.84 % 3.03 %

Share Based Compensation (Table

Share Based Compensation (Tables)9 Months Ended
Jul. 31, 2019
Share-based Payment Arrangement [Abstract]
Summary of Share Based Compensation ExpenseThe
following table summarizes share-based compensation expense included in the Statement of Operations (in thousands):
Three
Months Ended July 31, Nine
Months Ended July 31,
2019 2018 2019 2018
Research and development $ 241 $ 543 $ 822 $ 2,342
General
and administrative 223 1,409 743 3,645
Total $ 464 $ 1,952 $ 1,565 $ 5,987
Summary of RSU Activity and Related InformationA
summary of the Company’s RSU activity and related information for the nine months ended July 31, 2019 is as follows:
Number
of Weighted-Average
Grant
Balance at October 31, 2018 32,614 $ 70.41
Vested (10,949 ) 71.84
Cancelled (5,461 ) 110.24
Balance at July 31, 2019 16,204 $ 56.02
Summary of Changes in Stock Option PlanA
summary of changes in the stock option plan for the nine months ended July 31, 2019 is as follows:
Number
of Weighted-Average
Outstanding at October 31, 2018: 330,071 $ 122.79
Granted 106,132 5.44
Cancelled
or Expired (30,831 ) 33.18
Outstanding at July 31,
2019 405,372 98.88
Vested
and Exercisable at July 31, 2019 239,276 $ 155.72
Summary of Fair Value of Stock Options Granted of BSMIn
determining the fair value of the stock options granted during the nine months ended July 31, 2019 and 2018, the Company used
the following inputs in its Black Scholes Merton model:
Nine
Months Ended July 31,
2019 2018
Expected Term 5.50-6.51
years 5.35
– 6.51 years
Expected Volatility 90.29%-104.99 % 94.61%-100.34 %
Expected Dividends 0 % 0 %
Risk Free Interest Rate 1.75%-3.15 % 1.81 –
2.93 %

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)9 Months Ended
Jul. 31, 2019
Equity [Abstract]
Summary of Changes in Stockholders' EquityA
summary of the changes in stockholders’ equity for the three and nine months ended July 31, 2019 and 2018 is presented below
(in thousands, except share data):
Preferred
Stock Common
Stock Additional
Paid-In Accumulated Total
Shareholders’
Shares Amount Shares Amount Capital Deficit Equity
Balance at November 1, 2017 - $ - 2,744,196 $ 3 $ 355,400 $ (301,142 ) $ 54,261
Stock based compensation 13,003 - 2,854 - 2,854
Tax withholdings paid related
to net share settlement of equity awards - - (7 ) - (7 )
Tax withholdings paid on equity
awards - - (209 ) - (209 )
Tax shares sold to pay for tax
withholdings on equity awards - - 197 - 197
Issuance of shares to employees
under ESPP Plan - - - - -
Advaxis at-the-market sales 58,776 - 2,659 - 2,659
Net Loss - - - (20,492 ) (20,492 )
Balance at January 31, 2018 - $ - 2,815,975 $ 3 $ 360,894 $ (321,634 ) $ 39,263
Stock based compensation 17,873 - 1,225 - 1,225
Tax withholdings paid related
to net share settlement of equity awards - - (33 ) - (33 )
Tax withholdings paid on equity
awards - - (61 ) - (61 )
Tax shares sold to pay for tax
withholdings on equity awards - - 78 - 78
Issuance of shares to employees
under ESPP Plan 712 - 9 - 9
Advaxis public offerings 666,667 1 18,382 - 18,383
Net Loss - - - (13,407 ) (13,407 )
Balance at April 30, 2018 - $ - 3,501,227 $ 4 $ 380,494 $ (335,041 ) $ 45,457
Stock based compensation 15,683 - 1,953 - 1,953
Tax withholdings paid related
to net share settlement of equity awards - - (47 ) - (47 )
Tax withholdings paid on equity
awards - - (188 ) - (188 )
Tax shares sold to pay for tax
withholdings on equity awards - - 163 - 163
Issuance of shares to employees
under ESPP Plan 341 - 7 - 7
ESPP expense - - 4 - 4
Net loss - - - (14,017 ) (14,017 )
Balance at July 31, 2018 - $ - 3,517,251 $ 4 $ 382,386 $ (349,058 ) $ 33,332
Preferred
Stock Common
Stock Additional Accumulated Total
Shares Amount Shares Amount Capital Deficit Equity
Balance at November 1, 2018 - $ - 4,634,189 $ 5 $ 391,703 $ (367,657 ) $ 24,051
Stock based compensation 9,811 - 622 - 622
Tax withholdings paid on equity
awards - - (11 ) - (11 )
Tax shares sold to pay for tax
withholdings on equity awards - - 11 - 11
Issuance of shares to employees
under ESPP Plan 2,007 - 9 - 9
ESPP Expense - - 1 1
Net Income - - 12,817 12,817
Balance at January 31, 2019 - $ - 4,646,007 $ 5 $ 392,335 $ (354,840 ) $ 37,500
Stock based compensation 693 - 479 - 479
Tax withholdings paid on equity
awards - - (3 ) - (3 )
Tax shares sold to pay for tax
withholdings on equity awards - - 3 - 3
Issuance of shares to employees
under ESPP Plan 1,505 - 7 - 7
Warrant exercises 15,300 - 68 - 68
Warrant liability reclassified
into equity - - 53 - 53
ESPP Expense - - 1 1
Shares issued in settlement of
warrants 856,865 1 5,462 - 5,463
Advaxis public offerings 2,500,000 2 8,980 - 8,982
Net Loss - - - (9,383 ) (9,383 )
Balance at April 30, 2019 - $ - 8,020,370 $ 8 $ 407,385 $ (364,223 ) $ 43,170
Stock based compensation 408 464 - 464
Tax withholdings paid on equity
awards - (1 ) - (1 )
Tax shares sold to pay for tax
withholdings on equity awards - 1 - 1
Issuance of shares to employees
under ESPP Plan 1,073 3 - 3
Shares issued in settlement of
warrants 577,000 1 - - 1
Advaxis public offerings 10,650,000 11 15,478 - 15,489
Net Loss - - - (9,858 ) (9,858 )
Balance at July 31, 2019 - $ - 19,248,851 $ 20 $ 423,330 $ (374,081 ) $ 49,269

Fair Value (Tables)

Fair Value (Tables)9 Months Ended
Jul. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring BasisThe
following table provides the assets and liabilities carried at fair value measured on a recurring basis as of July 31, 2019 and
October 31, 2018 (in thousands):
July
31, 2019 Level
1 Level
2 Level
3 Total
Common stock warrant
liability, warrants exercisable at $0.372 through September 2024 - - $ 36 $ 36
October
31, 2018 Level
1 Level
2 Level
3 Total
Common stock warrant
liability, warrants exercisable at $22.50 through September 2024 - - $ 6,517 $ 6,517
Schedule of Changes in the Fair Value of Warrant LiabilitiesThe following
table sets forth a summary of the changes in the fair value of the Company’s warrant liabilities (in thousands):
July
31, 2019
Beginning balance $ 6,517
Shares issued in settlement
of warrants (3,856 )
Warrant exercises (53 )
Change
in fair value (2,572 )
Ending
Balance $ 36

Nature of Operations (Details N

Nature of Operations (Details Narrative) - USD ($) $ in Thousands3 Months Ended9 Months Ended12 Months Ended70 Months Ended
Jul. 31, 2019Jul. 31, 2018Jul. 31, 2019Jul. 31, 2018Oct. 31, 2019Jul. 31, 2019Oct. 31, 2018
Proceeds from public offering $ 292,200
Cash and cash equivalents $ 41,755 $ 39,434 $ 41,755 $ 39,434 $ 41,755 $ 44,141
Operating expenses $ 10,136 $ 15,295 28,569 $ 53,198
Forecast [Member]
Proceeds from public offering $ 27,000
Fiscal Year 2020 [Member]
Non-recurring costs6,000
Fiscal Year 2020 [Member] | Minimum [Member]
Operating expenses33,000
Fiscal Year 2020 [Member] | Maximum [Member]
Operating expenses $ 37,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies and Basis of Presentation (Details Narrative) - USD ($) $ in ThousandsJul. 31, 2019Oct. 31, 2018Jul. 31, 2018
Accounting Policies [Abstract]
Restricted cash balance $ 977 $ 977
Pre-funded warrants included in computation of basic earnings per share13,079,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies and Basis of Presentation - Schedule of Anti-dilutive Securities Excluded from Diluted Net Loss Per Share (Details) - shares9 Months Ended
Jul. 31, 2019Jul. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti Dilutive Securities Total18,723,380 606,518
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti Dilutive Securities Total18,301,804 206,160
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti Dilutive Securities Total405,372 353,258
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti Dilutive Securities Total16,204 47,100

Summary of Significant Accoun_6

Summary of Significant Accounting Policies and Basis of Presentation - Schedule of Reclassifications to Balance Sheet and Income Statement (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Jul. 31, 2019Jul. 31, 2018Jul. 31, 2019Jul. 31, 2018Nov. 02, 2018Oct. 31, 2018
Accounts receivable $ 1,664 $ 1,664
Prepaid expenses and other current assets1,571 1,571 1,611 $ 1,611
Revenue6 $ 1,131 20,883 $ 4,934
Research and Development Expenses7,060 $ 10,560 19,735 37,679
Accounts receivable1,664 1,094
Prepaid expenses and other current assets(54) $ (2,433)
Adjustments [Member]
Accounts receivable 1,664
Prepaid expenses and other current assets (1,664)
Revenue 1,960
Research and Development Expenses 1,960
Accounts receivable
Prepaid expenses and other current assets
Balances Without Adoption of ASC 606 [Member]
Accounts receivable
Prepaid expenses and other current assets1,571 1,571 $ 3,275
Revenue6 18,923
Research and Development Expenses $ 7,060 17,775
Accounts receivable
Prepaid expenses and other current assets $ 1,571

Property and Equipment (Details

Property and Equipment (Details Narrative) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Jul. 31, 2019Jul. 31, 2018Jul. 31, 2019Jul. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation expense $ 300 $ 300 $ 848 $ 827

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in ThousandsJul. 31, 2019Oct. 31, 2018
Property, Plant and Equipment [Abstract]
Leasehold improvements $ 2,335 $ 2,321
Laboratory equipment5,030 5,510
Furniture and fixtures746 746
Computer equipment409 409
Construction in progress17 17
Total property and equipment8,537 9,003
Accumulated depreciation and amortization(2,945)(2,319)
Net property and equipment $ 5,592 $ 6,684

Intangible Assets (Details Narr

Intangible Assets (Details Narrative) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Jul. 31, 2019Jul. 31, 2018Jul. 31, 2019Jul. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Finite lived patents expirations yearThe expirations of the existing patents range from 2019 to 2039
Book value patent applications, net $ 300 $ 100 $ 625 $ 424
Intangible asset amortization expense $ 100 $ 100 $ 290 $ 288

Intangible Assets - Summary of

Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in ThousandsJul. 31, 2019Oct. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Patents $ 6,085 $ 5,970
Licenses777 777
Software117 117
Total intangibles6,979 6,864
Accumulated amortization(2,211)(2,026)
Intangible assets $ 4,768 $ 4,838

Intangible Assets - Schedule of

Intangible Assets - Schedule of Carrying Value of Intangible Assets (Details) $ in ThousandsJul. 31, 2019USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2019 (Remaining) $ 96
2020371
2021352
2022352
2023352
Thereafter3,245
Total $ 4,768

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) $ in ThousandsJul. 31, 2019Oct. 31, 2018
Payables and Accruals [Abstract]
Salaries and other compensation $ 812 $ 2,035
Vendors2,333 3,660
Professional fees431 490
Total accrued expenses $ 3,576 $ 6,185

Common Stock Purchase Warrant_3

Common Stock Purchase Warrants and Warrant Liability (Details Narrative) - USD ($) $ / shares in Units, $ in ThousandsMar. 14, 2019Jul. 31, 2019Apr. 30, 2019Jul. 31, 2019Jul. 31, 2018Jul. 31, 2019Jul. 31, 2018Oct. 31, 2018
Class of Warrant or Right [Line Items]
Number of warrants to purchase common stock31,380,804 31,380,804 31,380,804 944,635
Exercise price $ 0.372 $ 0.372 $ 0.372 $ 22.50
Warrants outstanding31,380,804 31,380,804 31,380,804 944,635
Loss on shares issued in settlement of warrants $ (1,607)
Number of common stock shares sold58,775
Income on fair value of warrants $ 200 $ 0 $ 2,600 $ 0
Exercise Price [Member]
Class of Warrant or Right [Line Items]
Warrants, measurement input22.50
Stock Price [Member]
Class of Warrant or Right [Line Items]
Warrants, measurement input6.45
Expected Term [Member]
Class of Warrant or Right [Line Items]
Warrants, term5 years 6 months
Volatility [Member]
Class of Warrant or Right [Line Items]
Warrants, measurement input fair value, percentage96.37%
Risk Free Interest Rate [Member]
Class of Warrant or Right [Line Items]
Warrants, measurement input fair value, percentage2.44%
Private Exchange Agreement [Member]
Class of Warrant or Right [Line Items]
Number of warrants to purchase common stock856,865
Exercise price $ 22.50
Warrant expirationSep. 11,
2024
Private Exchange Agreement [Member] | Investor [Member]
Class of Warrant or Right [Line Items]
Number of common stock shares issued856,865
Fair value of warrant $ 3,900
Equity Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants outstanding31,308,525 31,308,525 31,308,525 191
Warrant Liability [Member]
Class of Warrant or Right [Line Items]
Warrants outstanding72,279 72,279 72,279 944,444
Fair value of warrant $ 36 $ 36 $ 36 $ 6,500
Number of common stock shares sold10,650,000 2,500,000
Income on fair value of warrants $ (2,572)
Warrant Liability [Member] | Pre-funded Warrants [Member]
Class of Warrant or Right [Line Items]
Number of warrants to purchase common stock13,656,000 13,656,000 13,656,000
Warrant Liability [Member] | Exercise Price [Member]
Class of Warrant or Right [Line Items]
Warrants, measurement input0.372 0.372 0.372 22.50
Warrant Liability [Member] | Stock Price [Member]
Class of Warrant or Right [Line Items]
Warrants, measurement input0.560.560.568.40
Warrant Liability [Member] | Expected Term [Member]
Class of Warrant or Right [Line Items]
Warrants, term5 years 1 month 13 days5 years 1 month 13 days5 years 1 month 13 days5 years 10 months 14 days
Minimum [Member]
Class of Warrant or Right [Line Items]
Exercise price $ 0.001 $ 0.001 $ 0.001 $ 22.50
Minimum [Member] | Private Exchange Agreement [Member]
Class of Warrant or Right [Line Items]
Exercise price $ 4.50
Minimum [Member] | Warrant Liability [Member]
Class of Warrant or Right [Line Items]
Exercise price0.372 $ 3.72 0.372 0.372
Maximum [Member]
Class of Warrant or Right [Line Items]
Exercise price281.25281.25281.25 $ 281.25
Maximum [Member] | Private Exchange Agreement [Member]
Class of Warrant or Right [Line Items]
Exercise price $ 22.50
Maximum [Member] | Warrant Liability [Member]
Class of Warrant or Right [Line Items]
Exercise price $ 3.72 $ 4.50 $ 3.72 $ 3.72

Common Stock Purchase Warrant_4

Common Stock Purchase Warrants and Warrant Liability - Schedule of Outstanding Warrants (Details) - $ / shares9 Months Ended12 Months Ended
Jul. 31, 2019Oct. 31, 2018
Class of Warrant or Right [Line Items]
Exercise Price $ 0.372 $ 22.50
Number of Shares Underlying Warrants31,380,804 944,635
Exercise Price Range One [Member]
Class of Warrant or Right [Line Items]
Exercise Price $ 2.80 $ 281.25
Number of Shares Underlying Warrants18,229,500 25
Expiration DateApr. 30,
2024
Summary of WarrantsJuly 2019 Public OfferingOther Warrants
Exercise Price Range Two [Member]
Class of Warrant or Right [Line Items]
Exercise Price $ 0.001 $ 56.25
Number of Shares Underlying Warrants13,079,000 166
Expiration DateApr. 30,
2024
Mar. 30,
2019
Summary of WarrantsJuly 2019 Public Offering- Pre-FundedMarch 2014 Public Offering- Placement Agent
Exercise Price Range Three [Member]
Class of Warrant or Right [Line Items]
Exercise Price $ 281.25 $ 22.50
Number of Shares Underlying Warrants25 944,444
Expiration DateSep. 30,
2024
Summary of WarrantsOther WarrantsSeptember 2018 Public Offering
Exercise Price Range Four [Member]
Class of Warrant or Right [Line Items]
Exercise Price $ 0.372
Number of Shares Underlying Warrants72,279
Expiration DateSep. 30,
2024
Summary of WarrantsSeptember 2018 Public Offering

Common Stock Purchase Warrant_5

Common Stock Purchase Warrants and Warrant Liability - Schedule of Warrants Activity (Details) $ / shares in Units, $ in Thousands9 Months Ended
Jul. 31, 2019USD ($)$ / sharesshares
Common Stock Purchase Warrants And Warrant Liability
Number of Warrants, Outstanding and exercisable warrants, Beginning balance | shares944,635
Number of Warrants, Issued | shares31,885,500
Number of Warrants, Exercised | shares(592,300)
Number of Warrants, Exchanged | shares(856,865)
Number of Warrants, Expired | shares(166)
Number of Warrants, Outstanding and exercisable warrants, Ending balance | shares31,380,804
Weighted Average Exercise Price, Outstanding and exercisable warrants, Beginning | $ / shares $ 22.50
Weighted Average Exercise Price, Issued | $ / shares1.60
Weighted Average Exercise Price, Exercised | $ / shares0.12
Weighted Average Exercise Price, Exchanged | $ / shares22.50
Weighted Average Exercise Price, Expired | $ / shares56.25
Weighted Average Exercise Price, Outstanding and exercisable warrants, Ending | $ / shares $ 1.63
Aggregate Intrinsic Value, Beginning | $
Aggregate Intrinsic Value, Ending | $ $ 7,259

Common Stock Purchase Warrant_6

Common Stock Purchase Warrants and Warrant Liability - Schedule of Assumptions Used in Warrant Liability (Details) - $ / sharesJul. 31, 2019Mar. 14, 2019Oct. 31, 2018
Exercise Price [Member]
Class of Warrant or Right [Line Items]
Warrants, measurement input22.50
Stock Price [Member]
Class of Warrant or Right [Line Items]
Warrants, measurement input6.45
Expected Term [Member]
Class of Warrant or Right [Line Items]
Warrants, term5 years 6 months
Warrant Liability [Member] | Exercise Price [Member]
Class of Warrant or Right [Line Items]
Warrants, measurement input0.372 22.50
Warrant Liability [Member] | Stock Price [Member]
Class of Warrant or Right [Line Items]
Warrants, measurement input0.568.40
Warrant Liability [Member] | Expected Term [Member]
Class of Warrant or Right [Line Items]
Warrants, term5 years 1 month 13 days5 years 10 months 14 days
Warrant Liability [Member] | Volatility [Member]
Class of Warrant or Right [Line Items]
Warrants, measurement input percentage97.73%97.47%
Warrant Liability [Member] | Risk Free Interest Rate [Member]
Class of Warrant or Right [Line Items]
Warrants, measurement input percentage1.84%3.03%

Share Based Compensation (Detai

Share Based Compensation (Details Narrative) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Jul. 31, 2019Jul. 31, 2018Jul. 31, 2019Jul. 31, 2018
Unrecognized compensation cost related to non-vested stock option awards $ 1,600 $ 1,600
Unrecognized compensation cost related to non-vested remaining weighted average vesting period1 year 8 months 26 days
Stock compensation expense464 $ 1,952 $ 1,565 $ 5,987
Compensation cost related to outstanding stock options300 900 $ 900 $ 2,900
Share-based compensation options expiration dateMar. 21,
2023
Vested and exercisable options, intrinsic value0 $ 0
2018 Employee Stock Purchase Plan [Member]
Number of shares issued under employee stock purchase plan'4,585
2011 & 2018 Employee Stock Purchase Plans [Member]
Number of shares issued under employee stock purchase plan'10,681
Two Former Board Members [Member]
Stock compensation expense $ 77
Restricted Stock Units (RSUs) [Member]
Unrecognized compensation cost related to non-vested stock option awards400 $ 400
Unrecognized compensation cost related to non-vested remaining weighted average vesting period1 year 1 month 9 days
Aggregate intrinsic value of non-vested RSU $ 9 $ 9
Stock compensation expense $ 10
Restricted Stock Units (RSUs) [Member] | Chief Financial Officer [Member]
Stock compensation expense $ 110 $ 320
Employee Stock Awards [Member]
Share-based compensation, common stock, shares408 14,351 10,947 44,603
Share-based compensation, shares on net basis after employee payroll taxes12,683 12,683 41,579 41,579
Stock compensation expense $ 200 $ 900 $ 700 $ 2,900
Director Stock Awards [Member]
Stock compensation expense $ 0 $ 71 $ 0 $ 200
Issuance of common stock issued for share based compensation0 3,000 0 3,000

Share Based Compensation - Summ

Share Based Compensation - Summary of Share Based Compensation Expense (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Jul. 31, 2019Jul. 31, 2018Jul. 31, 2019Jul. 31, 2018
Share-based compensation expense $ 464 $ 1,952 $ 1,565 $ 5,987
Research and Development [Member]
Share-based compensation expense241 543 822 2,342
General and Administrative [Member]
Share-based compensation expense $ 223 $ 1,409 $ 743 $ 3,645

Share Based Compensation - Su_2

Share Based Compensation - Summary of RSU Activity and Related Information (Details) - Restricted Stock Units (RSUs) [Member]9 Months Ended
Jul. 31, 2019$ / sharesshares
Number of RSUs, Beginning Balance | shares32,614
Number of RSUs, Vested | shares(10,949)
Number of RSUs, Cancelled | shares(5,461)
Number of RSUs, Ending Balance | shares16,204
Weighted-Average Grant Date Fair Value, Outstanding, Beginning | $ / shares $ 70.41
Weighted-Average Grant Date Fair Value, Vested | $ / shares71.84
Weighted-Average Grant Date Fair Value, Cancelled | $ / shares110.24
Weighted-Average Grant Date Fair Value, Outstanding, Ending | $ / shares $ 56.02

Share Based Compensation - Su_3

Share Based Compensation - Summary of Changes in Stock Option Plan (Details)9 Months Ended
Jul. 31, 2019$ / sharesshares
Share-based Payment Arrangement [Abstract]
Number of Options, Beginning Balance | shares330,071
Number of Options, Granted | shares106,132
Number of Options, Cancelled or Expired | shares(30,831)
Number of Options, Ending Balance | shares405,372
Number of Options, Vested and Exercisable | shares239,276
Weighted-Average Exercise Price, Outstanding, Beginning | $ / shares $ 122.79
Weighted-Average Exercise Price, Granted | $ / shares5.44
Weighted-Average Exercise Price, Cancelled or Expired | $ / shares33.18
Weighted-Average Exercise Price, Outstanding, Ending | $ / shares98.88
Weighted-Average Exercise Price, Vested and Exercisable | $ / shares $ 155.72

Share Based Compensation - Su_4

Share Based Compensation - Summary of Fair Value of Stock Options Granted of BSM (Details)9 Months Ended
Jul. 31, 2019Jul. 31, 2018
Expected Volatility, Minimum90.29%94.61%
Expected Volatility, Maximum104.99%100.34%
Expected Dividends0.00%0.00%
Risk Free Interest Rate, Minimum1.75%1.81%
Risk Free Interest Rate, Maximum3.15%2.93%
Minimum [Member]
Expected Term5 years 6 months5 years 4 months 6 days
Maximum [Member]
Expected Term6 years 6 months 3 days6 years 6 months 3 days

Collaboration and Licensing A_2

Collaboration and Licensing Agreements (Details Narrative) - USD ($) $ / shares in Units, $ in ThousandsFeb. 08, 2019Dec. 10, 2018Aug. 02, 2016Mar. 19, 2014Jul. 31, 2019Apr. 30, 2019Jul. 31, 2018Apr. 30, 2018Jul. 31, 2019Jul. 31, 2018Oct. 31, 2014
Value of stock purchased $ 15,489 $ 8,982 $ 18,383
Revenue6 $ 1,131 $ 20,883 $ 4,934
Global BioPharma, Inc [Member]
Payment to contract research organization2,250
License and Service [Member] | Global BioPharma, Inc [Member]
Revenue250 250
Amgen Agreement [Member]
Upfront payment $ 40,000
Number of common stock shares issued203,163
Share issued price per share $ 123
Value of stock purchased $ 25,000
Development, regulatory and sales milestone payments475,000
Upfront payment recorded as deferred revenue $ 40,000 $ 40,000
Deferred revenue18,200
Cumulative catch-up revenue $ 2,600 $ 15,600
Revenue0 1,100 20,600 4,700
Reduction in research and development expenses0 1,400 2,000 4,500
Aratana Agreement [Member]
Upfront payment $ 1,000
Development, regulatory and sales milestone payments36,500
Licensing revenue $ 1,000
Additional, cumulative sales milestone payments $ 15,000
Aratana Agreement [Member] | Royalty [Member]
Revenue $ 6 $ 2 $ 8 $ 3

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - Especificos Stendhal SA de CV [Member] $ in ThousandsSep. 19, 2018USD ($)
Damages sought value by plaintiff $ 3,000
Litigation expense300
Due from related party $ 3,000

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative) - USD ($) $ / shares in Units, $ in ThousandsMar. 29, 2019Jul. 31, 2019Apr. 30, 2019Feb. 28, 2018Jul. 31, 2018Jul. 31, 2019Feb. 21, 2019Oct. 31, 2018
Number of common stock shares sold58,775
Proceeds from sale of common shares $ 2,700
Common stock, shares authorized170,000,000 170,000,000 95,000,000 170,000,000
Reverse stock split, description1 for 15 reverse stock split
Number of warrants to purchase common stock31,380,804 31,380,804 944,635
Exercise price $ 0.372 $ 0.372 $ 22.50
Net proceeds from offering $ 292,200
Maximum [Member]
Exercise price $ 281.25 $ 281.25 $ 281.25
Public Offering [Member]
Number of common stock shares sold2,500,000 666,667
Proceeds from sale of common shares $ 9,000 $ 18,400
Sale of stock price per share $ 4 $ 30
Underwritten Public Offering [Member]
Number of common stock shares sold10,650,000
Sale of stock price per share $ 1.20 $ 1.20
Gross proceeds from offering $ 17,000
Public offering, descriptionEach share of common stock or pre-funded warrant was sold together in a fixed combination with a warrant to purchase 0.75 shares of common stock. The pre-funded warrants are exercisable immediately, do not expire and have an exercise price of $0.001 per share. The warrants are exercisable immediately, expire five years from the date of issuance, have an exercise price of $2.80 per share and are subject to anti-dilution and other adjustments for certain stock splits, stock dividends, or recapitalizations. The warrants also provide that if during the period of time between the date that is the earlier of (i) 30 days after issuance and (ii) if the common stock trades an aggregate of more than 35,000,000 shares after the pricing of the offering, and ending 15 months after issuance, the weighted-average price of common stock immediately prior to the exercise date is lower than the then-applicable exercise price per share, each Common Warrant may be exercised, at the option of the holder, on a cashless basis for one share of Common Stock.
Net proceeds from offering $ 15,500
Underwritten Public Offering [Member] | Maximum [Member]
Number of warrants to purchase common stock17,142,000 17,142,000
Exercise price $ 2.80 $ 2.80
Warrants, term5 years5 years
Underwritten Public Offering [Member] | Pre-funded Warrants [Member]
Sale of stock price per share $ 0.75 $ 0.75
Number of warrants to purchase common stock13,656,000 13,656,000
Exercise price $ 0.001 $ 0.001

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Changes in Stockholders' Equity (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Jul. 31, 2019Apr. 30, 2019Jan. 31, 2019Jul. 31, 2018Apr. 30, 2018Jan. 31, 2018Jul. 31, 2019Jul. 31, 2018
Balance $ 43,170 $ 37,500 $ 24,051 $ 45,457 $ 39,263 $ 54,261 $ 24,051 $ 54,261
Stock based compensation464 479 622 1,953 1,225 2,854
Tax withholdings paid related to net share settlement of equity awards(47)(33)(7)
Tax withholdings paid on equity awards(1)(3)(11)(188)(61)(209)
Tax shares sold to pay for tax withholdings on equity awards1 3 11 163 78 197
Issuance of shares to employees under ESPP Plan3 7 9 7 9
Advaxis at-the-market sales2,659
Warrant exercises68
Warrant liability reclassified into equity53 53
ESPP Expense1 1 4
Shares issued in settlement of warrants1 5,463
Advaxis public offerings15,489 8,982 18,383
Net Loss(9,858)(9,383)12,817 (14,017)(13,407)(20,492)(6,424)(47,917)
Balance49,269 43,170 37,500 33,332 45,457 39,263 49,269 33,332
Preferred Stock [Member]
Balance
Balance, shares
Stock based compensation
Stock based compensation, shares
Tax withholdings paid related to net share settlement of equity awards
Tax withholdings paid on equity awards
Tax shares sold to pay for tax withholdings on equity awards
Issuance of shares to employees under ESPP Plan
Issuance of shares to employees under ESPP Plan, shares
Advaxis at-the-market sales
Advaxis at-the-market sales, shares
Warrant exercises
Warrant exercises, shares
ESPP Expense
Shares issued in settlement of warrants
Shares issued in settlement of warrants, shares
Advaxis public offerings
Advaxis public offerings, shares
Net Loss
Balance
Balance, shares
Common Stock [Member]
Balance $ 8 $ 5 $ 5 $ 4 $ 3 $ 3 $ 5 $ 3
Balance, shares8,020,370 4,646,007 4,634,189 3,501,227 2,815,975 2,744,196 4,634,189 2,744,196
Stock based compensation
Stock based compensation, shares408 693 9,811 15,683 17,873 13,003
Tax withholdings paid related to net share settlement of equity awards
Tax withholdings paid on equity awards
Tax shares sold to pay for tax withholdings on equity awards
Issuance of shares to employees under ESPP Plan
Issuance of shares to employees under ESPP Plan, shares1,073 1,505 2,007 341 712
Advaxis at-the-market sales
Advaxis at-the-market sales, shares58,776
Warrant exercises
Warrant exercises, shares15,300
ESPP Expense
Shares issued in settlement of warrants $ 1 $ 1
Shares issued in settlement of warrants, shares577,000 856,865
Advaxis public offerings $ 11 $ 2 $ 1
Advaxis public offerings, shares10,650,000 2,500,000 666,667
Net Loss
Balance $ 20 $ 8 $ 5 $ 4 $ 4 $ 3 $ 20 $ 4
Balance, shares19,248,851 8,020,370 4,646,007 3,517,251 3,501,227 2,815,975 19,248,851 3,517,251
Additional Paid-In Capital [Member]
Balance $ 407,385 $ 392,335 $ 391,703 $ 380,494 $ 360,894 $ 355,400 $ 391,703 $ 355,400
Stock based compensation464 479 622 1,953 1,225 2,854
Tax withholdings paid related to net share settlement of equity awards(47)(33)(7)
Tax withholdings paid on equity awards(1)(3)(11)(188)(61)(209)
Tax shares sold to pay for tax withholdings on equity awards1 3 11 163 78 197
Issuance of shares to employees under ESPP Plan3 7 9 7 9
Advaxis at-the-market sales2,659
Warrant exercises68
Warrant liability reclassified into equity53
ESPP Expense1 1 4
Shares issued in settlement of warrants 5,462
Advaxis public offerings15,478 8,980 18,382
Net Loss
Balance423,330 407,385 392,335 382,386 380,494 360,894 423,330 382,386
Accumulated Deficit [Member]
Balance(364,223)(354,840)(367,657)(335,041)(321,634)(301,142)(367,657)(301,142)
Stock based compensation
Tax withholdings paid related to net share settlement of equity awards
Tax withholdings paid on equity awards
Tax shares sold to pay for tax withholdings on equity awards
Issuance of shares to employees under ESPP Plan
Advaxis at-the-market sales
Warrant exercises
Warrant liability reclassified into equity
ESPP Expense
Shares issued in settlement of warrants
Advaxis public offerings
Net Loss(9,858)(9,383)12,817 (14,017)(13,407)(20,492)
Balance $ (374,081) $ (364,223) $ (354,840) $ (349,058) $ (335,041) $ (321,634) $ (374,081) $ (349,058)

Fair Value - Schedule of Fair V

Fair Value - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in ThousandsJul. 31, 2019Oct. 31, 2018
Common stock warrant liability, warrants exercisable at $0.372 through September 2024 $ 36 $ 6,517
Fair Value, Inputs, Level 1 [Member]
Common stock warrant liability, warrants exercisable at $0.372 through September 2024
Fair Value, Inputs, Level 2 [Member]
Common stock warrant liability, warrants exercisable at $0.372 through September 2024
Fair Value, Inputs, Level 3 [Member]
Common stock warrant liability, warrants exercisable at $0.372 through September 2024 $ 36 $ 6,517

Fair Value - Schedule of Fair_2

Fair Value - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) (Parenthetical) - $ / sharesJul. 31, 2019Oct. 31, 2018
Fair Value Disclosures [Abstract]
Warrant exercise price per share $ 0.372 $ 22.50

Fair Value - Schedule of Change

Fair Value - Schedule of Changes in the Fair Value of Warrant Liabilities (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Jul. 31, 2019Jul. 31, 2018Jul. 31, 2019Jul. 31, 2018
Beginning balance $ 6,517
Change in fair value $ 200 $ 0 2,600 $ 0
Ending Balance36 36
Warrant Liability [Member]
Beginning balance6,517
Shares issued in settlement of warrants(3,856)
Warrant exercises(53)
Change in fair value(2,572)
Ending Balance $ 36 $ 36

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($) $ / shares in Units, $ in ThousandsSep. 09, 2019Sep. 03, 2019Jul. 31, 2019Jul. 31, 2018
Proceeds from exercise of warrants $ 68
Subsequent Event [Member]
Regain compliance, descriptionThe Company has until March 2, 2020 to regain compliance. The Company can regain compliance if at any time prior to March 2, 2020 the bid price of its common stock closes at or above $1.00 per share for a minimum of ten consecutive business days. If the Company fails to regain compliance with the minimum bid price requirement by March 2, 2020, the Company may apply to transfer to The Nasdaq Global Select Market where the Company should be afforded an additional 180-day period to regain compliance provided that (i) the Company meets the applicable market value of publicly held shares requirement for continued listing and all other applicable requirements for initial listing on the Nasdaq Global Select Market (except for the bid price requirement) based on the Company's most recent public filings and market information and (ii) the Company notifies Nasdaq of its intent to cure the bid price requirement deficiency prior to the completion of the second 180-day compliance period by effecting a reverse stock split, if necessary.
Shares issued price per share $ 1
Exercise of warrants to common stock430,162
Subsequent Event [Member] | Pre-funded Warrants [Member]
Proceeds from exercise of warrants $ 5,030
Exercise of warrants to common stock5,030,000