Welcome to our dedicated page for Can-Fite BioPharma news (Ticker: CANF), a resource for investors and traders seeking the latest updates and insights on Can-Fite BioPharma stock.
Can-Fite BioPharma Ltd. reports developments for a clinical-stage biotechnology pipeline of proprietary small-molecule drugs targeting the A3 adenosine receptor (A3AR). Recurring news covers Namodenoson and Piclidenoson across oncology, inflammatory disease, liver disorders, metabolic disease, obesity-related uses, and companion-animal osteoarthritis through its veterinary commercialization relationship.
Company updates also include clinical and regulatory disclosures, patent allowances in multiple jurisdictions, operating and financial results, material agreements, capital-structure actions, and governance matters tied to its American Depositary Shares and ordinary-share voting processes.
Can-Fite BioPharma Ltd. (NYSE: CANF) has signed a definitive agreement with a healthcare-focused institutional investor to sell 5,000,000 American Depositary Shares (ADSs) at $2.00 each, raising gross proceeds of $10 million for research, development, and working capital. A concurrent private placement of warrants to purchase up to 5,000,000 ADSs will also occur at the same price. The offering, expected to close around August 16, 2021, is facilitated by H.C. Wainwright & Co. The ADSs are offered under a shelf registration statement filed with the SEC.
Can-Fite BioPharma Ltd. (NYSE American: CANF) has appointed Yossi Borenstein as an External Director during its recent annual general meeting. Borenstein, CEO of Shizim Group and a veteran in the Israeli biomed industry, brings over 35 years of experience, having previously managed Bristol-Myers Squibb (Israel) and served in various leadership roles across multiple organizations. Can-Fite, engaged in developing therapies for cancer, liver, and inflammatory diseases, continues its clinical progress with drug candidates like Piclidenoson and Namodenoson.
Can-Fite BioPharma Ltd (NYSE: CANF) has completed preparatory work for its pivotal Phase III trial of Namodenoson, targeting hepatocellular carcinoma (HCC), the most prevalent liver cancer. The trial will enroll 450 patients globally and is designed to assess overall survival and safety. Both the FDA and EMA have agreed to the trial protocol, and Namodenoson has received Orphan Drug and Fast Track designations. This advancement comes amid a global market for HCC treatments projected to reach $3.8 billion by 2027.
Can-Fite BioPharma (NYSE: CANF) has entered a development and commercialization agreement with Vetbiolix for its drug, Piclidenoson, targeting osteoarthritis in pets. Vetbiolix will conduct proof-of-concept studies over two years, covering all associated costs, and may obtain a license for further development if the data is positive. The canine osteoarthritis market is projected to reach $3 billion by 2024, with the broader companion animal health market expected to grow to $27 billion by 2028. Piclidenoson offers a potentially effective oral treatment alternative to existing NSAIDs.
Can-Fite BioPharma Ltd (NYSE American: CANF) announced that the Chinese National Intellectual Property Administration granted a Notice of Allowance for its patent on an A3 Adenosine Receptor ligand aimed at treating ectopic fat accumulation. This patent supports their liver drug candidate, Namodenoson, which is set to enter Phase IIb trials for non-alcoholic steatohepatitis (NASH) in Q3 2021, following successful Phase IIa results. Namodenoson has been licensed in China with potential milestone payments of up to $74.5 million. The NASH market in China is projected to reach $6.4 billion by 2027.
Can-Fite BioPharma Ltd (NYSE American: CANF) received clearance from the Israeli Ministry of Health to initiate a Phase IIb study of its drug candidate Namodenoson for treating NASH. Enrollment is expected to start in Q3 2021, earlier than previously anticipated. The study aims to assess Namodenoson's efficacy in 140 subjects, comparing its effects against a placebo over 36 weeks. Given the urgent unmet medical need for NASH treatments, the market for NASH pharmaceuticals could reach $35-40 billion by 2025.
Can-Fite BioPharma Ltd. (NYSE American: CANF) announces that Dr. Sari Fishman will present at the BIO Digital Convention on June 10-11 & 14-18, 2021. Can-Fite has secured approximately $20 million from out-licensing agreements for its drug candidates, with potential milestone payments of up to $130 million. The company anticipates key developments, including topline data from Phase III psoriasis and Phase II COVID-19 trials, as well as initiating pivotal trials in liver cancer and NASH by year-end.
Can-Fite BioPharma Ltd (NYSE American: CANF) reported its financial results for Q1 2021, revealing revenues of $0.15 million, down 25.2% from $0.20 million in Q1 2020. The company secured a $42.7 million out-licensing deal with Ewopharma, including $2.25 million upfront and up to $40.45 million contingent on milestones. The Phase III Comfort™ psoriasis study reached 75% enrollment, with topline results anticipated in Q4 2021. Can-Fite’s R&D expenses declined by 65.5% to $1.30 million, while general and administrative expenses rose to $1.01 million. Future trials for liver cancer and NASH are set for late 2021.
Can-Fite BioPharma Ltd. (NYSE American: CANF) announced that CEO Dr. Pnina Fishman will appear on The RedChip Money Report on May 29th, at 7 p.m. local time, reaching 73 million homes in the U.S. The interview will cover upcoming milestones and updates on Can-Fite's drug pipeline, including Piclidenoson and Namodenoson, which target conditions like psoriasis and liver cancer. Piclidenoson is in Phase III trials for psoriasis and Phase II studies for COVID-19, while Namodenoson has shown promise in treating liver cancer and has received Orphan Drug Designation.
Can-Fite BioPharma Ltd (NYSE American: CANF) will present at Benzinga’s Global SmallCap Conference on May 13, 2021. CEO Dr. Pnina Fishman will discuss the company’s advancements in treating psoriasis, liver cancer, and NASH. Can-Fite's drug candidates are in Phase II and Phase III trials, showcasing clinical proof of concept. The company’s lead drug, Piclidenoson, targets moderate COVID-19, while Namodenoson is set for Phase III for hepatocellular carcinoma and has received Orphan Drug and Fast Track Designation from the FDA.