Welcome to our dedicated page for Can-Fite BioPharma Ltd. news (Ticker: CANF), a resource for investors and traders seeking the latest updates and insights on Can-Fite BioPharma Ltd. stock.
Can-Fite BioPharma Ltd. (CANF) is a clinical-stage biotechnology company whose news flow centers on the development of orally administered small-molecule drugs targeting the A3 adenosine receptor. On this page, readers can follow company announcements on clinical trial progress, regulatory designations, patent developments, financing events, and corporate actions related to its oncology, liver disease, inflammatory, and sexual dysfunction programs.
Recent news has highlighted pivotal and mid-stage clinical studies, including a Phase III trial of Namodenoson in advanced hepatocellular carcinoma, a Phase IIb trial in MASH, and a Phase IIa study in pancreatic cancer. The company has also reported compassionate use cases in advanced liver disease and cirrhosis, as well as long-term survival outcomes in liver cancer patients treated with Namodenoson. For Piclidenoson, updates include Phase III psoriasis development and protocol preparation for rare diseases such as Lowe Syndrome, along with preclinical findings in vascular dementia models.
News items also cover CF602, an A3AR allosteric modulator in development for erectile dysfunction, including patent allowances and grants in markets such as Brazil, the United States, and Europe. Can-Fite regularly reports on its intellectual property strategy, out-licensing and distribution agreements for human and veterinary indications, participation in industry conferences, and capital markets activities such as public offerings, warrant amendments, and share structure changes like reverse splits and ADS ratio adjustments.
Investors and observers can use this CANF news feed to monitor key milestones that may affect the company’s clinical pipeline, regulatory interactions, partnering discussions, and financial position over time.
Can-Fite BioPharma (NYSE American: CANF) announced regional deals that include upfront payments, regulatory and sales milestones, and double-digit royalties. The company's VP of Business Development, Dr. Sari Fishman, will participate in the BIO-Europe Spring conference in Basel, Switzerland from March 20 to 22, 2023, aiming to establish licensing and distribution agreements for its advanced drug candidates, Piclidenoson and Namodenoson. Both drugs have shown promising results in clinical trials, with Piclidenoson moving into a Phase III trial. Can-Fite aims to accelerate drug distribution, enhancing partnership agreements in Europe, Asia, and Canada.
Can-Fite BioPharma (NYSE American: CANF) announced compassionate use of its drug Namodenoson for patients with decompensated cirrhosis at Soroka Medical Center in Israel. This condition currently has no approved therapeutic options aside from liver transplants. Namodenoson, undergoing pivotal Phase III studies for liver cancer, has shown potential benefits in clinical trials for cirrhosis and NASH, highlighting the urgent need for effective treatments as the liver cirrhosis market is projected to reach $15 billion in the U.S. by 2030.
Can-Fite BioPharma (NYSE American: CANF) announced progress on its drug Namodenoson, currently undergoing a pivotal Phase III study approved by the FDA and EMA. Namodenoson, an orally bioavailable drug, targets liver cancer cells while sparing normal liver cells, demonstrating improved survival rates in advanced liver cancer patients. The drug holds Orphan Drug and Fast Track designations in both the U.S. and Europe. Published research indicates a very favorable safety profile and its potential effectiveness based on Phase II trial outcomes. The study aims to enroll 450 patients across Israel, Europe, and the U.S., with an interim data analysis planned.
Can-Fite BioPharma (NYSE: CANF) announced that its anti-cancer drug, Namodenoson, exhibits significant inhibition of pancreatic carcinoma growth, both alone and in combination with gemcitabine, the standard chemotherapy. These pre-clinical studies highlighted Namodenoson's excellent safety profile and potential effectiveness against pancreatic cancer, a disease with a bleak 11% 5-year survival rate in the U.S. The company has filed a patent application for Namodenoson aimed at treating this aggressive cancer. The global pancreatic cancer therapeutics market was valued at approximately $3.6 billion in 2021 and is projected to grow significantly by 2030.
Can-Fite BioPharma (NYSE American: CANF) announced definitive agreements for a registered direct offering of 1,000,000 American Depositary Shares (ADSs) at $5.50 each, expected to yield approximately $7.5 million, alongside a private placement of 363,637 ADSs at the same price. The offerings include Series A warrants with an exercise price of $6.00 and Series B warrants at $5.50. Proceeds will fund R&D and clinical trials. The closing is anticipated by January 13, 2023, and the warrants will have a term of up to 5.5 years and 20 months respectively.
Can-Fite BioPharma has submitted a market registration plan for its lead drug candidate, Piclidenoson, to the European Medicines Agency. This follows successful topline results from the Phase III COMFORT study, which showed significant improvement over placebo in treating moderate to severe psoriasis. The drug boasts a superior safety profile compared to Otezla, the leading oral psoriasis therapy. With a focus on the $26 billion psoriasis market, Can-Fite aims to position Piclidenoson as a preferred treatment.
Can-Fite BioPharma Ltd. (NYSE American: CANF) announced a change to its American Depositary Shares (ADSs) ratio, effective January 9, 2023. The new ratio will be one ADS representing 300 ordinary shares, equivalent to a one-for-ten reverse split. Existing ADS holders will exchange ten ADSs for one new ADS. There will be no changes to ordinary shares, and the new ADSs will continue trading under the symbol 'CANF'. Following this, the ADS price is expected to increase proportionally, though there's no guarantee of reaching ten times the previous price.
Can-Fite BioPharma (NYSE American: CANF) announced significant advancements in its clinical program for Namodenoson, targeting hepatocellular carcinoma (HCC). A pivotal Phase III study is now open for enrollment focusing on patients with advanced liver cancer. Notably, a CPB liver cancer patient remains cancer-free six years post-treatment with Namodenoson. Previous Phase II data indicated improved overall survival rates for CPB7 patients treated with Namodenoson compared to placebo. The FDA and EMA have granted Orphan Drug and Fast Track status for this drug.
Can-Fite BioPharma announced advancements in developing Piclidenoson, aimed at treating canine osteoarthritis, supported by its partner Vetbiolix. The canine osteoarthritis market is projected to reach $3 billion by 2028. Vetbiolix's recent studies indicate Piclidenoson has optimal safety and efficacy for upcoming European clinical trials, with a favorable safety profile established. If successful, this could lead to regulatory approval and significant revenues for Can-Fite. The drug could offer a superior alternative to current treatments.
Can-Fite BioPharma Ltd. (CANF) reported financial results for the quarter ending September 30, 2022, indicating a 6.1% revenue decline to $0.61 million compared to 2021. R&D expenses dropped 21.3% to $5.31 million, primarily due to completing the Phase III Piclidenoson study. The net loss decreased to $7.15 million from $8.50 million, largely thanks to reduced expenses. Can-Fite also highlighted significant clinical developments, including the clearance of cancer in a patient treated with Namodenoson and the positive Phase III results for Piclidenoson in psoriasis.