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PRF Technologies Ltd. reports developments across clinical-stage specialty pharmaceuticals and AI-driven solar analytics. The company focuses on reformulating established therapeutics for post-operative pain management and, through majority-owned LayerBio, is developing OcuRing™-K, a bio-erodible intraocular ring designed to deliver ketorolac for post-cataract pain and inflammation.
PRF news also covers the company’s DeepSolar business unit, which develops AI-driven digital asset management, forecasting, performance monitoring, and technical due diligence tools for utility-scale solar plants. Recurring updates include ocular drug-delivery regulatory milestones, preclinical and clinical safety data, patent activity, SaaS deployments, commercial collaborations, capital actions, and governance changes.
PainReform provided a business update for Q1 2024, noting significant progress in the clinical development of its lead drug candidate, PRF-110.
The company reached 50% enrollment in the second part of its Phase 3 clinical trial for PRF-110 in bunionectomy, with over 200 patients enrolled across eight U.S. sites. No serious adverse events have been reported.
PainReform expects to announce top-line data in Q3 2024. New studies showed PRF-110's superior in-vitro release rates compared to industry leaders, and the company is optimistic about its potential to reduce opioid use.
Financially, R&D expenses rose to $4.7 million, mainly due to the Phase 3 trial, while general and administrative expenses decreased to $823,000. The company incurred a net loss of $5.5 million. As of March 31, 2024, PainReform held $4.3 million in cash and raised $4 million through a public offering in April 2024.
PainReform CEO, Ilan Hadar, discussed the benefits of PRF-110 in addressing the opioid epidemic during an interview with Proactiveinvestors.com. PRF-110 offers extended post-operative pain relief without opioids, with positive updates on the Phase 3 trial and market potential.
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