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Raphael Pharmaceutical Inc. (RAPH) entered into an Enterprise AI Transformation and Growth Partnership with AIcreatesAI Inc. effective July 30, 2026, under a one-year Annual Managed Services Agreement. AIcreatesAI will act as a managed partner for artificial intelligence transformation, commercialization, communications, product and growth operations.
The annual managed-services fee is $180,000, payable in monthly installments of $15,000, with automatic deferred payment obligations when funds are temporarily unavailable, remaining payable once Raphael receives financing, investment, commercial revenue or other resources. With AIcreatesAI’s written consent, deferred amounts may be satisfied with Raphael common shares, subject to securities laws and OTC Markets requirements. The Agreement also contemplates a Company-branded digital token platform, for which AIcreatesAI would receive 2% of net profits from the platform, separate from the service fee. Either party may terminate the Agreement for a material breach uncured for 15 days after written notice, and the parties remain independent contractors.
Raphael Pharmaceutical Inc. is an early-stage cannabinoid-focused pharmaceutical developer reporting interim results for the six months ended June 30, 2026. The company remains pre-revenue and recorded a net loss of $452 thousand, an improvement from $751 thousand in the prior-year period, driven by lower research and development expenses of $77 thousand (down 64%) and general and administrative expenses of $345 thousand (down 35%). Operating loss fell to $422 thousand from $740 thousand, and net cash used in operating activities declined to $44 thousand from $239 thousand. Shares outstanding were 20,176,418 as of June 30, 2026.
Despite cost reductions, the balance sheet is very weak. Total assets were $7 thousand, including cash and cash equivalents of $1 thousand, against current liabilities of $1,892 thousand and a stockholders’ equity deficit of $1,885 thousand. Payables to related parties totaled $1,310 thousand and short-term credit from a related party was $43 thousand. Management discloses substantial doubt about the company’s ability to continue as a going concern absent significant near-term financing and estimates it will need about $2 million over the next 12 months for R&D, clinical development, commercialization preparation, and operations.
Raphael Pharmaceutical Inc. reports several senior leadership changes. Ajay Kumar Dhadha voluntarily resigned as Chairman of the Board and Director, effective June 30, 2026. The company states his resignation was not due to any disagreement regarding operations, policies, practices, financial reporting, management, or the Board.
Guy Ofir voluntarily resigned as Chief Financial Officer, General Counsel, and Director, effective July 16, 2026, also described as not resulting from any such disagreement. Effective July 16, 2026, Uri Tadelis was appointed as the company’s Chief Financial Officer.
Raphael Pharmaceutical Inc. reports first-quarter 2026 results showing a smaller loss but very limited liquidity and ongoing going-concern risk. The company generated no revenue and recorded a net loss of $229,000, down from $429,000 a year earlier, as research and development and general and administrative costs both fell roughly by half.
As of March 31, 2026, total assets were only $3,000, including $1,000 in cash, against current liabilities of $1,665,000, resulting in a stockholders’ deficit of $1,662,000 and an accumulated deficit of $10,397,000. Management explicitly states substantial doubt about the company’s ability to continue as a going concern and expects existing cash to fund operations only through the third quarter of 2026.
The cannabinoid-focused drug developer remains in the clinical and development stage, with no product revenue and plans to pursue additional U.S. and international clinical work in rheumatoid arthritis, autoimmune diseases, asthma and COVID-19-related indications. Management estimates it will need about $1 million for research and development and another $1 million for capital expenditures over the next 12 months, and plans to seek significant additional financing to support these activities.
Raphael Pharmaceutical Inc. Chief Technology Officer Louria Hayon Igal exercised warrants to acquire 350,000 shares of common stock at an exercise price of $0.01 per share. Following the in-the-money derivative exercise, her direct common stock holdings increased to 1,349,000 shares, with no such warrants remaining outstanding.
Raphael Pharmaceutical Inc. is a Nevada-based drug research company developing cannabinoid-based therapies for rheumatoid arthritis (RA), asthma and COVID-19–related inflammation. Its platform focuses on highly purified, non-psychoactive CBD strains targeting immune pathways.
The company completed a U.S. proof-of-concept RA study in 2024, where its Raphael’s Formula showed a 19.2% reduction in Disease Activity Score (DAS28) among 12 patients over eight weeks, with many reporting lower pain and better sleep. Raphael has since launched RaphaWell, a clinically tested, 100% plant-based RA support dietary supplement in the U.S., while advancing pharmaceutical-grade RA and asthma candidates, supported by long‑running research collaborations and shared IP with Rambam in Israel.
Raphael Pharmaceutical Inc. reported a change in its Board of Directors. On December 31, 2025, the term of service of Dr. Yehuda Eliya as a board member expired, and he ceased to serve as a director as of that date. The company states that Dr. Eliya’s departure was not related to any disagreement with the company regarding its operations, policies, or practices, indicating a routine end-of-term transition rather than a conflict-driven resignation.
Raphael Pharmaceutical Inc. filed its Q3 2025 10‑Q, reporting continued operating losses and limited liquidity. The company recorded a net loss of $255,000 for the quarter and $1,006,000 for the nine months ended September 30, 2025. There was no revenue.
Costs shifted: R&D expenses fell to $73,000 in Q3 (down 55% year over year) and to $286,000 for the nine months (down 49%), while G&A increased to $178,000 in Q3 and $705,000 for the nine months. Cash used in operations improved to $256,000 for the nine months.
Liquidity is strained: cash was $3,000 as of September 30, 2025, with a stockholders’ deficit of $1,264,000. Current liabilities were $1,271,000 against total assets of $7,000. The company raised $240,000 via share and warrant issuances year‑to‑date and received $38,384 in non‑interest loans from the CEO. Management disclosed substantial doubt about the ability to continue as a going concern absent additional funding.
Operationally, the company announced the completion and U.S. launch of its “RaphaWell” dietary supplement for RA support in August 2025. Shares outstanding were 19,626,418 as of November 13, 2025. Management reported disclosure controls and procedures effective at a reasonable assurance level.