Can-Fite BioPharma Ltd. Stock Price, News & Analysis

Can-Fite BioPharma Ltd. (NYSE American: CANF) announced the exercise of warrants by a healthcare-focused institutional investor to purchase 150 million ordinary shares (5 million ADSs) at $2.00 each, generating gross proceeds of $10 million. The ADSs and ordinary shares are registered under a SEC Form F-1. The new warrants will allow for future purchases of up to 180 million ordinary shares at the same price. Proceeds will be used for working capital, including advancing Phase II and Phase III clinical trials for liver diseases.

Can-Fite BioPharma (NYSE American: CANF) announced that a patient in its Phase II study of Namodenoson for hepatocellular carcinoma (HCC) achieved a Complete Response, with all cancer lesions cleared. The patient has survived five years post-treatment, showcasing significant clinical benefits including normal liver function. Can-Fite plans to start a pivotal Phase III trial in Q1 2022, aiming for New Drug Application submissions. The drug has Orphan Drug Designation and Fast Track Status in the U.S. and Europe, highlighting its potential in the treatment of liver cancer.

Can-Fite BioPharma Ltd (NYSE American: CANF) announced the completion of treatment for approximately 400 psoriasis patients in its Phase III Comfort™ study. The study uses Piclidenoson, an A3 adenosine receptor agonist, with a primary endpoint of PASI 75 response at week 16. Positive interim data has been reported. The psoriasis market is projected to reach $11.3 billion by 2025. Can-Fite has out-licensed Piclidenoson in multiple regions, pending regulatory approval, with potential milestone payments and royalties.

Can-Fite BioPharma Ltd. (NYSE American: CANF) reported financial results for the quarter ended September 30, 2021, highlighting key developments in its clinical pipeline. The company completed patient enrollment in its Phase III Comfort™ psoriasis study, with results expected in Q1 2022. Notably, Can-Fite discontinued its Phase II COVID-19 trial to focus on its primary indications. The financial results show revenues of $0.65 million, a slight increase from $0.61 million, while net loss decreased to $8.49 million, down from $10.81 million in 2020. The company’s cash and equivalents reached $13.3 million, bolstered by fundraising activities.

Can-Fite BioPharma (NYSE American: CANF) announced that CEO Dr. Pnina Fishman will present at the 5th Annual NASH Summit from November 29 to December 2, 2021. Dr. Fishman's presentation, scheduled for December 1 at 1:30 PM ET, will discuss the Phase 2a study of Namodenoson, an A3AR Agonist, in treating Non-alcoholic Fatty Liver Disease and Non-alcoholic Steatohepatitis. The 5th Annual NASH Summit gathers experts to enhance understanding of NASH clinical science. Namodenoson recently completed a successful Phase IIa trial, meeting its primary endpoint.

Can-Fite BioPharma announced that its veterinary partner, Vetbiolix, has initiated a safety and efficacy study of Piclidenoson for treating canine osteoarthritis, targeting a market expected to reach $3 billion by 2024. Safety results are anticipated in Q1 2022, with efficacy data expected in Q4 2022. Piclidenoson has shown a favorable safety profile in over 1,500 human patients. The study aims to provide a safer alternative to existing treatments, with Vetbiolix responsible for development costs and potential royalties upon regulatory approval.

Can-Fite BioPharma (NYSE American: CANF) announced that CEO Dr. Pnina Fishman will present at the H.C. Wainwright 7th Annual Israel Conference on November 15, 2021, at 12:30 PM ET. The presentation will emphasize Can-Fite's advanced-stage pipeline, including a Phase III study in psoriasis with results expected in Q1 2022. Upcoming studies include a Phase II study in NASH and a pivotal Phase III trial in liver cancer. Can-Fite is focused on developing proprietary drugs for inflammatory diseases, cancer, and liver conditions, including the candidates Piclidenoson and Namodenoson.

Can-Fite BioPharma (NYSE American: CANF) announced that CEO Dr. Pnina Fishman will present research on the CBD Rich T3/C15 cannabis fraction at the American Association for the Study of Liver Diseases (AASLD) The Liver Meeting from November 12-15, 2021. The study indicates that this cannabis fraction inhibits the growth of HEP-3b hepatocellular carcinoma cells via the A3 Adenosine Receptor. This inhibitory activity suggests potential therapeutic applications in liver cancer treatment.

Can-Fite BioPharma (NYSE: CANF) announced the granting of a patent for its NASH drug candidate, Namodenoson, in Hong Kong and Mexico, with a notice of allowance in Japan. This patent enhances Can-Fite's intellectual property in treating ectopic fat accumulation related to NAFLD and NASH, projected to reach a $35 billion market by 2025. Namodenoson has successfully completed a Phase IIa study and is currently in Phase IIb trials. The company has secured about $20 million in non-dilutive payments for Namodenoson across multiple regions.