Can-Fite BioPharma Ltd. filings document foreign-private-issuer disclosures for a clinical-stage biotechnology company whose American Depositary Shares trade under CANF. Its Form 6-K reports furnish press releases, annual and special meeting materials, proxy statements, voting instruction cards for ADS holders, and shareholder-vote results.
The company’s regulatory record covers clinical and regulatory updates for A3AR drug candidates, Namodenoson and Piclidenoson patent matters, partner-related development disclosures, operating and financial results, capital-structure items, registration-statement incorporation for Form S-8 and Form F-3 filings, governance matters, and risks connected to drug development and public-company financing.
Can-Fite BioPharma Ltd. reports that its veterinary partner Vetbiolix has completed enrollment in a randomized, double-blind, placebo-controlled Phase 2 study of Piclidenoson for osteoarthritis in 118 client-owned dogs. The 90-day, oral twice-daily trial focuses on mobility and pain reduction using validated scoring tools.
Vetbiolix funds all development and regulatory costs for registering Piclidenoson in companion animals and has exercised its option for a full licensing agreement. Can-Fite is eligible for upfront, milestone and royalty payments representing projected revenues of up to $325 million over the next decade, subject to successful development and commercialization. Top-line Phase 2 results are expected in Q3 2026.
Can-Fite BioPharma Ltd. is an advanced clinical-stage biopharmaceutical company developing orally available small molecules targeting the A3 adenosine receptor (A3AR) for cancer, liver and inflammatory diseases. Its ADSs trade on NYSE American under the symbol CANF, each ADS representing two ordinary shares.
The company has no approved products and has incurred recurring losses, with net losses of approximately $9.8 million in 2025, $7.9 million in 2024 and $7.6 million in 2023, leading to an accumulated deficit of about $176.2 million as of December 31, 2025. Cash and cash equivalents were $5.5 million and short-term deposits $3.0 million at that date, which management believes will fund operations for twelve months from the report’s issuance, but additional capital will be needed thereafter.
As of December 31, 2025, 2,618,425 ordinary shares were outstanding. On January 2, 2026, Can-Fite effected a 1‑for‑3,000 reverse split of its ordinary shares on the TASE and concurrently changed its ADS ratio to one ADS for two ordinary shares, effectively a one‑for‑twenty reverse ADS split. The filing details extensive risk factors, including clinical, regulatory, financing, competition, intellectual property and NYSE American continued-listing risks.
Can-Fite BioPharma reported 2025 results showing continued investment in its pipeline and a wider loss. Revenues were $0.41 million, down about 40% from $0.67 million in 2024, reflecting lower recognition of upfront distribution payments.
Research and development expenses rose to $6.69 million and general and administrative expenses to $3.66 million, driving a net loss of $9.83 million versus $7.88 million a year earlier. Cash, cash equivalents and short-term deposits totaled $8.54 million as of December 31, 2025, helped by financing activity, and the company received an additional $4.3 million from warrant exercises and an inducement in March 2026.
Clinically, a Phase 2a pancreatic cancer trial of Namodenoson met its primary safety endpoint, and more than 30% of heavily pretreated patients were alive at the latest cut-off. In hepatocellular carcinoma, one Namodenoson-treated patient has remained cancer-free for over nine years, while a Phase 3 HCC study and a Phase 2b trial in metabolic liver disease are ongoing. The company also highlighted a favorable case in decompensated cirrhosis, expansion into obesity indications, and new patents in several countries.
Can-Fite BioPharma Ltd. director Yoseph Bornstein filed an initial Form 3 reporting his holdings of stock options to purchase the company’s ordinary shares. The filing lists four option grants with different exercise prices, vesting schedules, and expiration dates.
One grant covers 200 underlying shares at an exercise price of $241.47, fully vested and expiring on June 22, 2031. Two additional grants each relate to 2,166 underlying shares, with exercise prices of $25.21 and $26.56 and expirations on April 30, 2033 and May 7, 2034, respectively; portions of these are already vested and the rest vest in specified quarterly installments. A larger grant covers 16,000 underlying shares at an exercise price of $2.18, expiring on January 25, 2030, with all of these options vesting in sixteen equal quarterly installments from April 25, 2026 through January 25, 2030.
The footnotes explain that, to qualify for certain Israeli tax benefits under Section 102, plan securities are held in the name of a trustee, and that the exercise prices were originally denominated in New Israeli Shekels and converted to U.S. dollars using a Bank of Israel exchange rate of 3.106 NIS per USD reported on March 11, 2026.
Can-Fite BioPharma director Abraham Sartani reported existing holdings of stock options to purchase Ordinary Shares. The Form 3 lists multiple option series with different exercise prices and expirations, showing his current derivative position rather than new market trades.
Examples include options over 16 shares at an exercise price of 2826.1400 per share expiring on November 8, 2027, and options over 2,166 shares at 25.2100 per share expiring on April 30, 2033. Another grant covers 16,000 shares at 2.1800 per share expiring on January 25, 2030.
Footnotes state that some grants are fully vested and exercisable, while others vest in scheduled quarterly installments between April 1, 2026 and January 25, 2030, contingent on Sartani’s continued service. Exercise prices were originally set in New Israeli Shekels and are presented here in U.S. dollars using a Bank of Israel exchange rate.
Can-Fite BioPharma Ltd. VP Business Development Sari Fishman filed an initial Form 3 showing holdings of multiple option grants to purchase Ordinary Shares. These options were granted between 2017 and 2025 with exercise prices originally set in New Israeli Shekels and translated into U.S. dollars.
Some option grants are already fully vested and exercisable, while others vest in scheduled quarterly installments between 2026 and 2029, contingent on continued service. To qualify for Israeli Section 102 tax benefits, the options are held in the name of a trustee.
Can-Fite BioPharma Ltd. director and Chief Scientific Officer Pnina Fishman reported her initial holdings on a Form 3. She directly holds several option grants to purchase Ordinary Shares with exercise prices ranging from USD 17.39 to USD 2,264.01, plus 88 Ordinary Shares. Some options are fully vested and exercisable, while others continue vesting in quarterly installments through dates extending to June 30, 2029, subject to her continued service.
Can-Fite BioPharma Ltd. executive Motti Farbstein, who serves as CEO, CFO and COO, files an initial Form 3 disclosing his holdings of stock options on the company’s ordinary shares. The filing lists several direct option grants with exercise prices ranging from $17.47 to $2,439.02 per share and expirations from 2027 through 2035. Some grants are fully vested and exercisable, while others continue to vest in scheduled quarterly installments through 2029, subject to his continued service. The options were issued under Can-Fite’s 2003, 2013 and 2023 share option plans, and for Israeli tax purposes are registered in the name of a trustee.
Can-Fite BioPharma Ltd. reports that the Israeli Patent Office has allowed its patent application covering the use of A3 adenosine receptor agonists, including its lead drug Namodenoson, to induce fat loss and treat obesity and related metabolic disorders. This strengthens the company’s global intellectual property around Namodenoson’s anti-obesity activity, following similar patent advances in the US, Canada and Australia. The company highlights preclinical and clinical data suggesting Namodenoson can reduce fat accumulation and improve metabolic profiles, offering a differentiated mechanism from current GLP-1 obesity drugs. The global obesity treatment market is projected to reach $60.5 billion by 2030, growing at a compound annual rate of about 22%.
Can-Fite BioPharma Ltd. reported that a Special General Meeting of Shareholders held on March 10, 2026 approved all three proposals presented to shareholders. These proposals were previously outlined in the company’s Notice and Proxy Statement dated January 27, 2026, which had been furnished on Form 6-K.