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

Can-Fite BioPharma (NYSE American: CANF) (TASE: CANF) is hosting an exclusive live investor webinar and Q&A session on October 29, 2024, at 4:15 p.m. ET. The event, hosted by RedChip Companies, will feature CEO Motti Farbstein and Executive Chairperson and CSO Dr. Pnina Fishman, who will discuss the company's development pipeline and upcoming milestones.

Can-Fite has multiple out-licensing deals with potential milestone payments exceeding $450 million, having already received $20 million in upfront and milestone payments. The company's advanced-stage assets target unmet medical needs in markets valued at over $70 billion. Investors can register for the free webinar and submit questions in advance or during the live event.

Can-Fite BioPharma (NYSE American: CANF) has announced that its veterinary partner Vetbiolix has exercised its option and signed a development and commercialization agreement for Piclidenoson, targeting osteoarthritis treatment in companion animals. This follows a successful clinical study in dogs. The arthritis market for companion animals is projected to grow from $3.8 Billion in 2023 to $6.3 Billion by 2030.

Can-Fite anticipates potential peak worldwide sales of $445 Million by 2034, capturing up to 6% of the market. The agreement entitles Can-Fite to a 15% royalty on worldwide sales, with projected earnings of $325 million over the next decade, assuming a 2027 launch. Piclidenoson offers a potentially safe and effective oral treatment for canine osteoarthritis, addressing limitations of current treatments.

Can-Fite BioPharma (NYSE American: CANF) has received approval from the Israeli Ministry of Health to conduct a Phase IIa clinical trial for Namodenoson in treating pancreatic carcinoma. The multicenter, open-label trial will enroll approximately 20 evaluable patients with advanced pancreatic adenocarcinoma whose disease has progressed on at least 1st-line therapy. Patients will receive 25 mg of oral Namodenoson twice daily in 28-day cycles.

The study aims to establish safety and clinical efficacy. Primary objectives include characterizing Namodenoson's safety profile, while secondary objectives involve evaluating clinical activity through metrics such as Objective Response Rate, Progression-Free Survival, and Overall Survival. The trial will be conducted at the Rabin Medical Center in Israel and UT Southwestern Medical Center in the US.

Can-Fite BioPharma (NYSE American: CANF) reported financial results and clinical updates for H1 2024. Key highlights include:

1. Exercise of warrants for $5.0 million in gross proceeds
2. Positive results from Piclidenoson's osteoarthritis study in dogs
3. Namodenoson's Phase 3 liver cancer study now has 31 recruiting centers
4. FDA granted IND clearance for Namodenoson in MASH treatment

Financial results: Revenues were $0.32 million, down from $0.39 million in H1 2023. Net loss decreased to $3.95 million from $4.22 million. Cash and equivalents stood at $4.72 million as of June 30, 2024.

RedChip Companies will air interviews with OS Therapies Inc. (NYSE American:OSTX) and Can-Fite BioPharma on Bloomberg TV on August 10, 2024, at 7 p.m. ET. Paul Romness, Chairman and CEO of OS Therapies, will provide a corporate update on the company's novel treatments for Osteosarcoma and other solid tumors. OS Therapies' product candidates, OST-HER2 and OST-tADC, aim to address gaps in pediatric and young adult cancer care. The company is approaching significant clinical milestones and potential revenue streams, including out-licensing deals and a priority review voucher valued at $100-110M.

Can-Fite BioPharma (NYSE American: CANF) has announced a definitive agreement for the immediate exercise of certain outstanding warrants, expected to generate approximately $5.0 million in gross proceeds. The warrants, issued in January and November 2023, allow for the purchase of up to 2,857,143 American Depositary Shares (ADSs) at an exercise price of $1.75 per ADS.

In exchange for this immediate cash exercise, Can-Fite will issue new unregistered warrants to purchase up to 5,714,286 ADSs at $2.25 per ADS. These new warrants will have varying expiration dates. The transaction is expected to close around August 12, 2024. H.C. Wainwright & Co. is acting as the exclusive placement agent for this offering.

Can-Fite plans to use the net proceeds for research and development, clinical trials, and general corporate purposes. The company has agreed to file a registration statement with the SEC for the resale of ADSs issuable upon exercise of the new warrants.

Can-Fite BioPharma (NYSE American: CANF) has announced an update on the intellectual property status of its lead drug candidate Namodenoson. The company expects broad protection for Namodenoson until at least 2044. Patents and patent applications cover methods of treating liver cancer, pancreatic cancer, and MASH using oral Namodenoson. A recent patent application protects the drug's manufacturing process.

Can-Fite has multiple approved patents and applications in various territories, including Europe and the US. The company is currently conducting a pivotal Phase III study in advanced liver cancer and a Phase IIb study in MASH, both in agreement with the FDA and EMA.

Can-Fite BioPharma (NYSE American: CANF) is hosting an exclusive live investor webinar and Q&A session on August 8, 2024, at 4:15 p.m. ET. The event will feature CEO Motti Farbstein and Executive Chairperson/CSO Dr. Pnina Fishman, who will discuss the company's development pipeline and upcoming milestones. Can-Fite, a biotechnology company focusing on oncological and inflammatory diseases, has secured multiple out-licensing deals with potential milestone payments exceeding $130 million. The company has already received $20 million in upfront and milestone payments, highlighting the potential of its therapies. Can-Fite's advanced-stage assets target unmet medical needs in markets valued at over $70 billion. Investors can register for the free webinar and submit questions in advance or during the live event.

Can-Fite BioPharma, a biotechnology firm focused on oncological and inflammatory diseases, has submitted an application to the FDA for Orphan Drug Designation for Namodenoson, aimed at treating pancreatic carcinoma. An orphan drug designation provides benefits including seven-year marketing exclusivity, tax credits, fee waivers, and grant eligibility. Can-Fite plans to initiate a Phase IIa multicenter open-label trial to assess Namodenoson's safety, clinical activity, and pharmacokinetics in patients with advanced pancreatic adenocarcinoma. The trial will involve approximately 20 patients receiving oral Namodenoson 25 mg twice daily over 28-day cycles. Key metrics will include safety profile, Objective Response Rate (ORR), Progression-Free Survival (PFS), Disease Control Rate (DCR), Duration of Response (DoR), and Overall Survival (OS). Namodenoson has already been granted Orphan Drug Status for advanced liver cancer by the FDA and EMA.