Share-Based Compensation (Tables)

3 Months Ended

Jan. 31, 2024

Share-Based Payment Arrangement [Abstract]

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 three months ended January 31, 2024 are summarized below. There were no grants during the three months ended January 31, 2023:

	Three months ended January 31,
	2024
Expected term (in years)	5.88-6.08
Expected volatility	78.24 - 78.72 %
Risk-free interest rate	4.35%
Expected dividend yield		-
Fair value of common shares and exercise price of options (USD)	$	7.66

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, 2023		2,706,941	$	2.40		8.1	$	52,192
Granted		588,000	7.66
Exercised		—		—
Forfeited or expired		—		—
Outstanding as of January 31, 2024		3,294,941	$	3.21	8.2		$	15,249
Options vested and exercisable as of January 31, 2024		1,660,177	$	0.66	4.6		$	11,385
Options vested and not exercisable as of January 31, 2024		819,393	$	1.40	3.1		$	2,942
Options unvested as of January 31, 2024		815,371	$	6.71	9.7		$	922

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:

	Three months ended January 31,
	2024		2023
Research and development	$	193	$	5
General and administrative	98		15
Total share-based compensation expense	$	291	$	20