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Share-Based Compensation (Tables)
12 Months Ended
Oct. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Shares Reserved for Future Issuance Under the Plan

As of October 31, 2025, and 2024, the Company has reserved the following Common Shares for the exercise of Common Share warrants, share options, and remaining shares reserved for future issuance under the 2023 Plan and options granted outside of the 2023 Plan as part of the inducement grants:

 

 

October 31,

 

 

October 31,

 

 

2025

 

 

2024

 

Warrants to purchase common shares

 

 

8,511,968

 

 

 

8,511,968

 

Incentive options to purchase common shares awarded pursuant to the 2023 Plan

 

 

5,717,948

 

 

 

4,391,512

 

Inducement grant stock options awarded outside of the 2023 Plan

 

 

3,315,350

 

 

 

1,643,000

 

Remaining shares reserved for future issuance under
   the 2023 Plan

 

 

2,933,304

 

 

 

2,752,889

 

Remaining shares reserved for future issuance under ESPP

 

 

2,000,000

 

 

 

 

Total

 

 

22,478,570

 

 

 

17,299,369

 

Schedule of Assumptions Used to Determine Grant-Date Fair Value of Stock Options

The assumptions that the Company used to determine the grant-date fair value of stock options during the years ended October 31, 2025 and 2024, were as follows:

 

Year ended October 31,

 

 

2025

 

 

2024

 

 

Expected term (in years)

 

5.5-6.08

 

 

5.51 - 6.08

 

 

Expected volatility

 

78.78-83.53%

 

 

78.24 - 82.33%

 

 

Risk-free interest rate

 

3.84-4.49%

 

 

1.78 - 4.66%

 

 

Expected dividend yield

 

 

 

 

 

 

 

Fair value of common shares and exercise price of options (USD)

$

3.31-7.39

 

$

4.73 - 12.60

 

 

Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity:

 

 

Number of
Shares

 

 

Weighted-
Average
Exercise
Price (USD)

 

 

Weighted-
Average
Remaining
Contractual
Term (in years)

 

 

Aggregate
Intrinsic
Value

 

Outstanding as of October 31, 2024

 

 

6,034,512

 

 

$

6.88

 

 

 

7.4

 

 

$

17,809

 

Granted

 

 

4,926,875

 

 

 

6.41

 

 

 

 

 

 

 

Exercised

 

 

(1,041,982

)

 

 

2.13

 

 

 

 

 

 

 

Forfeited or expired

 

 

(886,107

)

 

 

9.86

 

 

 

 

 

 

 

Outstanding as of October 31, 2025

 

 

9,033,298

 

 

$

6.93

 

 

 

8.5

 

 

$

10,979

 

Options vested and exercisable as of October 31, 2025

 

 

2,935,183

 

 

$

6.07

 

 

 

7.0

 

 

$

6,497

 

Options unvested as of October 31, 2025

 

 

6,098,115

 

 

$

7.35

 

 

$

9.2

 

 

$

4,482

 

Summary of Share-based Compensation Expense

Share-based compensation expense included in the Company’s consolidated statements of operations and comprehensive loss was as follows:

 

 

Year Ended October 31,

 

 

2025

 

 

2024

 

Research and development

 

$

3,282

 

 

$

1,794

 

General and administrative

 

 

6,364

 

 

 

3,530

 

Total share-based compensation expense

 

$

9,646

 

 

$

5,324