Share-Based Compensation (Tables)

6 Months Ended

Apr. 30, 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 and six months ended April 30, 2024 and 2023 are summarized below:

	Three months ended April 30,					Six months ended April 30,
	2024		2023			2024		2023
Expected term (in years)	5.75 - 6.08		6.08			5.75 - 6.08		6.08
Expected volatility	78.30 - 78.92%			81.39	%	78.24 - 78.92%			81.39	%
Risk-free interest rate	4.27 - 4.66%			3.56	%	4.27 - 4.66%			3.56	%
Expected dividend yield		—		—			—		—
Fair value of common shares and exercise price of options (USD)	$ 14.80 - 17.80			1.55		$ 7.66 - 17.80			1.55
Fair value of common shares and exercise price of options (CAD)	N/A		$	2.11		N/A		$	2.11

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		1,331,700			12.49
Exercised		(56,974	)		0.89
Forfeited or expired		(234	)		0.89
Outstanding as of April 30, 2024		3,981,433		$	5.69	8.4		$	41,181
Vested and exercisable as of April 30, 2024		2,434,737		$	2.10	7.6		$	33,597
Options unvested as of April 30, 2024		1,546,696		$	11.35	9.7		$	7,584

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 April 30,				Six months ended April 30,
	2024		2023		2024		2023
Research and development	$	337	$	7	$	530	$	12
General and administrative		1,580	32			1,678	47
Total share-based compensation expense	$	1,917	$	39	$	2,208	$	59