Rafael Holdings - RFL STOCK NEWS

Rafael Holdings (NYSE: RFL) has completed its merger with Cyclo Therapeutics following shareholder approvals from both companies. The merger terms included Rafael Holdings issuing Class B common stock to Cyclo Therapeutics' shareholders, representing approximately 22% of the combined company, with an exchange ratio of 0.3525.

The company's lead clinical asset, Trappsol® Cyclo™, is currently in a Phase 3 clinical trial (TransportNPC™) for treating Niemann-Pick Disease Type C1, a rare and fatal genetic disease. The trial is fully enrolled, with 48-week interim analysis results expected in mid-2025. The study is designed as a prospective, randomized, double-blind, placebo-controlled, multi-center therapeutic study in pediatric and adult patients.

Rafael Holdings (NYSE: RFL) reported Q2 fiscal 2025 financial results, highlighting its pending merger with Cyclo Therapeutics expected to close in Q3 2025. The company reported cash and cash equivalents of $48.3 million as of January 31, 2025.

The company recorded a net loss of $4.6 million ($0.19 per share) in Q2, compared to net income of $6.0 million ($0.25 per share) in the previous year. The decline was primarily due to unrealized losses of $1.1 million on Cyclo investments. For the first six months of fiscal 2025, net loss was $13.6 million ($0.57 per share).

Post-merger, Rafael will focus on Cyclo's lead clinical program Trappsol® Cyclo™, with topline data from a Phase 3 study in Niemann-Pick Disease Type C1 expected mid-2025. R&D expenses increased to $0.9 million in Q2 FY25 from $0.6 million year-over-year, while G&A expenses remained stable at $2.6 million.

Rafael Holdings (NYSE: RFL) reported Q1 fiscal 2025 financial results, highlighting its pending merger with Cyclo Therapeutics expected to close in Q1 2025. The company reported cash and equivalents of $54.3 million and a net loss of $9.0 million ($0.37 per share), compared to a $3.6 million loss ($0.15 per share) in the prior year.

The increased losses were mainly due to $6.0 million in unrealized losses on Cyclo investments and convertible notes. R&D expenses rose to $1.3 million from $0.5 million, while G&A expenses increased to $2.5 million from $2.0 million. Post-merger, Rafael will focus on Trappsol® Cyclo™, currently in a fully enrolled Phase 3 study for Niemann-Pick Disease Type C1, with interim results expected mid-2025.

Rafael Holdings (NYSE: RFL) reported its Q4 and FY2024 financial results, highlighting a merger agreement with Cyclo Therapeutics. The company ended with $65.9 million in cash and equivalents. Q4 showed a net loss of $4.5 million ($0.19/share), compared to a gain of $1.3 million in the prior year. FY2024 resulted in a net loss of $34.4 million ($1.45/share), largely due to an $89.9 million R&D expense from the Cornerstone acquisition, partially offset by a $31.3 million receivables recovery. The company increased its stake in Day Three Labs to 84% and began consolidating financial results for both Day Three Labs and Cornerstone Pharmaceuticals.

Rafael Holdings (NYSE: RFL) and Cyclo Therapeutics (Nasdaq: CYTH) have entered into a definitive merger agreement to combine their efforts in developing Trappsol® Cyclo™ for Niemann-Pick Disease Type C1 treatment. The merger involves Rafael Holdings issuing Class B common stock to Cyclo Therapeutics shareholders, valuing Cyclo shares at $0.95 each. Rafael Holdings will fund Cyclo's operations through closing and support the TransportNPC™ clinical trial to its 48-week interim analysis.

The merger, expected to close in late 2024, is subject to shareholder approvals and other conditions. Cyclo Therapeutics recently completed enrollment in its pivotal TransportNPC™ Phase 3 clinical study, with results from the 48-week interim analysis expected in mid-2025. This merger represents a significant step in Rafael Holdings' strategy to invest in and develop clinical-stage assets for high unmet medical needs.

Rafael Holdings (NYSE: RFL) has announced its financial results for the third quarter and first nine months of fiscal 2024, ending April 30, 2024. The company reported a net loss from continuing operations of $32.4 million for the quarter, or $1.36 per diluted share, compared to a net loss of $1.4 million in the same period last year. This loss was primarily driven by an $89.9 million in-process R&D expense, partially offset by a $31.3 million recovery of receivables from Cornerstone. For the nine months ending April 30, 2024, the net loss was $29.9 million, or $1.26 per diluted share, compared to $9.6 million in the previous year. The company highlighted positive developments, including the completion of enrollment in Cyclo Therapeutics' Phase 3 study and revenue generation at Day Three Labs. Cash and cash equivalents stood at $72.4 million as of April 30, 2024. General and administrative expenses decreased to $1.9 million for the quarter, down from $2.3 million last year.

Cyclo Therapeutics has completed enrollment for its Phase 3 TransportNPC™ trial, the largest study of its kind for Niemann-Pick Disease Type C1 (NPC1). The study includes 104 patients and aims to evaluate the efficacy of Trappsol® Cyclo™ in treating systemic and neurological symptoms of NPC1.

Topline data from the 48-week interim analysis is expected in the first half of 2025. Positive results could lead to the submission of a New Drug Application (NDA) to the FDA and a Marketing Authorization Application (MAA) to the EMA in the second half of 2025.

The trial also features a substudy for newborns to 3-year-olds, targeting early-stage interventions. The company has received Orphan Drug Designation in both the U.S. and EU, Fast Track and Rare Pediatric Disease designations in the U.S., which could qualify them for a Priority Review Voucher.

Rafael Holdings, Inc. (NYSE: RFL) reports financial results for Q2 fiscal 2024, showing a net income of $5.9 million and increased ownership in Day Three Labs to 79%. The company aims to enhance shareholder value through strategic investments and portfolio advancement, welcoming Dr. John Goldberg as Chief Medical Officer. Notable progress in Cyclo Therapeutics' Phase 3 trial for Niemann-Pick Disease Type C and Day Three Labs' innovative cannabis products development.

Rafael Holdings, Inc. (NYSE: RFL) reported its Q1 fiscal 2024 results, emphasizing a focus on advancing the portfolio and identifying strategic investments. The company holds $72.1 million in cash, cash equivalents, and marketable securities. It reported a net loss of $3.8 million, down from $5.2 million a year ago. Research and development expenses decreased to $0.5 million from $2.1 million, while general and administrative expenses decreased to $2.0 million from $3.1 million.