Can-Fite Announces Exercise of Warrants for Approximately $4.0 Million in Gross Proceeds
Can-Fite expects about $4.0 million in gross proceeds from warrant exercises before fees, to fund R&D and clinical trials.
Sentiment and the balance of points
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Rhea-AI Summary
Can-Fite BioPharma (CANF) entered a definitive agreement for the immediate exercise of certain outstanding warrants to purchase up to 1,591,738 ADSs at a reduced exercise price of $2.50 per ADS, down from $5.00. Gross proceeds are expected to be approximately $4.0 million before fees and expenses.
In consideration for the cash exercise, Can-Fite will issue new unregistered warrants to purchase up to 3,183,476 ADSs, also at $2.50 per ADS, exercisable until 24 months after the effective date of a planned resale registration statement. Closing of the offering is expected on or about September 3, 2026, with H.C. Wainwright & Co. as exclusive placement agent. The company intends to use net proceeds for research and development, clinical trials, and general corporate and working capital purposes.
Positive
- Approx. $4.0 million in expected gross proceeds from warrant exercises
- Exercise of 1,591,738 ADS warrants provides immediate cash inflow
- Net proceeds earmarked for R&D and clinical trials, supporting pipeline development
Negative
- Exercise price cut from $5.00 to $2.50 per ADS for existing warrants
- Issuance of new warrants for up to 3,183,476 ADSs adds potential future dilution
- New warrants and underlying ADSs in private placement are unregistered, requiring future resale registration
News Explained
The agreed cash exercise has not yet closed; if the new warrants for up to
Details
Market move: CANF -27.36% in the Sep 2 session. warrant exercise offering
On Sep 2, the day this news came out, CANF closed 27.36% below the previous close. Argus tracked a peak move of +38.8% during that session. Argus tracked a trough of -32.6% from its starting point during tracking. Our momentum scanner recorded 92 alerts for this stock that day. Relative volume reached 589.5x the daily average during tracking.
Data tracked by StockTitan Argus for the Sep 2 session.
Key Figures
- Warrants exercised
- 1,591,738 ADSs
- Immediate exercise
- Original exercise price
- $5.00 per ADS
- Warrants issued in March 2026
- Reduced exercise price
- $2.50 per ADS
- Immediate warrant exercise
- Expected closing
- September 3, 2026
- Subject to customary closing conditions
- New warrants
- 3,183,476 ADSs
- Issued in consideration for cash exercise
- New warrant exercise price
- $2.50 per ADS
- Newly issued warrants
- New warrant term
- 24 months
- From the effective date of the Resale Registration Statement
- Gross proceeds
- Approximately $4.0 million
- Before placement agent fees and offering expenses
Previous Offering Reports
-
Warrant exercise generated approximately $4.0 million in gross proceeds.
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Public offering included ADSs and warrants for up to $15.0 million.
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Registered direct offering planned to raise $3.0 million.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
form f-3 regulatory
private placement financial
resale registration statement regulatory
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RAMAT GAN, Israel, Sept. 02, 2026 (GLOBE NEWSWIRE) -- Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE: CANF) (“Can-Fite” or the “Company”), a clinical-stage biotechnology company developing a pipeline of proprietary small molecule drugs targeting oncological and inflammatory diseases, today announced the entry into a definitive agreement for the immediate exercise of certain outstanding warrants to purchase up to an aggregate of 1,591,738 American Depositary Shares (ADSs), having an exercise price of
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
In consideration for the immediate exercise of the warrants for cash, Can-Fite will issue new unregistered warrants to purchase up to 3,183,476 ADSs. The new warrants will have an exercise price of
The gross proceeds to Can-Fite from the exercise of the warrants are expected to be approximately
The new warrants described above were offered in a private placement pursuant to an applicable exemption from the registration requirements of the Securities Act of 1933, as amended (the "1933 Act"), and, along with the ADSs issuable upon exercise, have not been registered under the 1933 Act, and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission ("SEC") or an applicable exemption from such registration requirements. Can-Fite has agreed to file a registration statement with the SEC covering the resale of the shares of ADSs issuable upon exercise of the new warrants (the “Resale Registration Statement”).
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Can-Fite BioPharma Ltd.
Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE: CANF) is an advanced clinical stage drug development Company with a platform technology that is designed to address multi-billion dollar markets in the treatment of cancer, liver, and inflammatory disease. The Company’s lead drug candidate, Piclidenoson recently reported topline results in a Phase 3 trial for psoriasis and commenced a pivotal Phase 3 trial. Can-Fite’s liver drug, Namodenoson, is being evaluated in a Phase III trial for hepatocellular carcinoma (HCC), a Phase 2b trial for the treatment of MASH, and in a Phase 2a study in pancreatic cancer. Namodenoson has been granted Orphan Drug Designation in the U.S. and Europe and Fast Track Designation as a second line treatment for HCC by the U.S. Food and Drug Administration. Namodenoson has also shown proof of concept to potentially treat other cancers including colon, prostate, and melanoma. CF602, the Company’s third drug candidate, has shown efficacy in the treatment of erectile dysfunction. These drugs have an excellent safety profile with experience in over 1,600 patients in clinical studies to date. For more information please visit: www.canfite.com.
Forward-Looking Statements
This press release may contain forward-looking statements, about Can-Fite’s expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. All statements in this communication, other than those relating to historical facts, are “forward looking statements”. Forward-looking statements can be identified by the use of forward-looking words such as “believe,” “expect,” “intend,” “plan,” “may,” “should” or “anticipate” or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. For example, the Company is using forward-looking statements when it discusses the completion of the offering, the satisfaction of customary closing conditions related to the offering and the intended use of proceeds therefrom. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to known and unknown risks, uncertainties and other factors that may cause Can-Fite’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Important factors that could cause actual results, performance or achievements to differ materially from those anticipated in these forward-looking statements include, among other things, our market and other conditions, history of losses and needs for additional capital to fund our operations and our inability to obtain additional capital on acceptable terms, or at all; uncertainties of cash flows and inability to meet working capital needs; the initiation, timing, progress and results of our preclinical studies, clinical trials and other product candidate development efforts; our ability to advance our product candidates into clinical trials or to successfully complete our preclinical studies or clinical trials; our receipt of regulatory approvals for our product candidates, and the timing of other regulatory filings and approvals; the clinical development, commercialization and market acceptance of our product candidates; our ability to establish and maintain strategic partnerships and other corporate collaborations; the implementation of our business model and strategic plans for our business and product candidates; the scope of protection we are able to establish and maintain for intellectual property rights covering our product candidates and our ability to operate our business without infringing the intellectual property rights of others; competitive companies, technologies and our industry; risks related to not satisfying the continued listing requirements of NYSE American; and statements as to the impact of the political and security situation in Israel on our business. More information on these risks, uncertainties and other factors is included from time to time in the “Risk Factors” section of Can-Fite’s Annual Report on Form 20-F filed with the SEC on March 26, 2026 and other public reports filed with the SEC and in its periodic filings with the TASE. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Can-Fite undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
Contact
Can-Fite BioPharma
Motti Farbstein
info@canfite.com
+972-3-9241114
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