Welcome to our dedicated page for Rafael Holdings SEC filings (Ticker: RFL), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Rafael Holdings, Inc. filings document regulatory disclosures for a biotechnology company with Class B common stock listed on the New York Stock Exchange. The company’s reports include Form 8-K earnings releases, Regulation FD disclosures, clinical and intellectual-property updates tied to Cyclo Therapeutics, and material-event reporting related to its pharmaceutical development activities.
Proxy and meeting filings describe board elections, auditor ratification, equity incentive plan matters, committee governance and shareholder voting results. Securities-related filings cover Rafael’s Class B common stock, warrants to purchase Class B common stock, warrant exchange matters connected to the Cyclo Therapeutics merger, and Form 25 listing and registration notices for the warrant class.
Rafael Holdings, Inc. reported a larger operating loss as it advances its biotech strategy. For the six months ended January 31, 2026, revenue was $451 thousand, up from $205 thousand a year earlier, driven mainly by rental and new product sales, but research and development expense rose to $12.0 million from $2.3 million. Net loss attributable to Rafael Holdings widened to $16.2 million, or $0.32 per share, compared with $13.6 million, or $0.57 per share. Cash and cash equivalents were $37.8 million as of January 31, 2026, down from $52.8 million at prior fiscal year-end, after using $14.3 million in operating cash during the period. Total assets were $99.3 million and equity was $83.3 million, reflecting significant goodwill and in-process R&D tied to its acquisition of Cyclo and lead drug candidate Trappsol® Cyclo™. The company states its cash is expected to cover obligations for at least 12 months while it focuses on completing a pivotal Phase 3 trial in Niemann-Pick Disease Type C1 and managing a portfolio of majority-owned life science businesses.
Rafael Holdings, Inc. reported results for its second quarter of fiscal 2026, ended January 31, 2026, while highlighting progress in its pivotal Phase 3 TransportNPC™ study of Trappsol® Cyclo™ for Niemann-Pick Disease Type C1. An independent Data Monitoring Committee recommended the trial continue after reviewing prespecified safety and efficacy data at 48 weeks, and the company expects to complete the 96-week study and report preliminary top line results in the third quarter of this calendar year.
As of January 31, 2026, cash and cash equivalents were $37.8 million, down from $52.8 million as of July 31, 2025. For the quarter, net loss attributable to Rafael Holdings was $6.4 million, or $0.13 per share, compared with a net loss of $4.6 million, or $0.19 per share, a year earlier. Revenue was $0.2 million, up from $0.1 million in the prior-year quarter, while research and development expenses rose to $4.5 million from $0.9 million, primarily due to consolidating Cyclo Therapeutics’ costs after its March 2025 acquisition. General and administrative expenses decreased to $2.3 million from $2.6 million.
Rafael Holdings director Markus Sieger received a grant of 29,528 shares of Class B common stock on January 28, 2026. The award was structured as restricted stock that, according to the footnotes, vests in full immediately rather than over time.
The grant was valued using an average price of $1.27 per share, based on the issuer’s December 2025 closing prices. Following this equity award, Sieger beneficially owns a total of 219,710 Class B shares, consisting of 29,528 fully vested restricted shares and 190,182 shares held directly.
Rafael Holdings director receives restricted stock grant. Director Michael J. Weiss was awarded 39,370 shares of Rafael Holdings Class B common stock on January 28, 2026, reported as an acquisition transaction.
The grant is in the form of restricted stock that vests in full immediately, meaning the shares are fully earned at the grant date. The filing values the award at an average price of $1.27 per share, based on the issuer’s average December 2025 closing price. Following this grant, Weiss directly beneficially owns 141,861 shares of Class B common stock, consisting entirely of fully vested restricted stock.
Rafael Holdings director Mark N. Stein received a grant of 39,370 shares of Class B common stock as restricted stock that vests in full immediately. The grant was effective on January 28, 2026 at a reference value of $1.27 per share, based on the average closing price during December 2025.
Following this equity award, Stein beneficially owns 50,845 shares of Rafael Holdings Class B common stock in direct ownership, all described as fully vested restricted stock.
Rafael Holdings (RFL) director Alan Grayson reported receiving a grant of 6,562 shares of Class B common stock on January 28, 2026. The filing describes this as restricted stock that vests in full immediately and is now fully vested.
The transaction is coded as an acquisition at a reference price of $1.27 per share, representing the average closing price of the Class B stock during December 2025. Following this grant, Grayson directly holds 6,562 Class B common shares.
Rafael Holdings, Inc. insider filing shows a new equity grant to its top executive. On January 13, 2026, Exec Chairman, CEO & President Howard S. Jonas, who is also a director and 10% owner, received 75,000 shares of Class B common stock as a restricted stock grant at $1.2485 per share. These shares vest in four equal installments of 18,750 shares on each of January 13, 2027, 2028, 2029 and 2030.
Following this grant, Jonas beneficially owns 332,840 Class B shares directly, consisting of 198,542 vested and 134,298 unvested restricted shares with additional vesting dates in 2026 and 2027–2030. The filing also lists substantial indirect holdings in Class B and Class A shares through The Jonas Foundation, several trusts, and limited partnerships, including Rafael A Partners, L.P., where he has sole voting and dispositive power over the Class A shares.
Rafael Holdings, Inc. Chief Financial Officer David Polinsky reported two Class B common stock transactions dated January 13, 2026. The company withheld 4,865 shares at $1.2485 per share to cover taxes upon the vesting of restricted stock. He also received a grant of 50,000 restricted shares at $1.2485 per share, which vest in stages from January 13, 2027 through January 13, 2030. After these transactions, he beneficially owns 303,815 Class B shares, consisting of 76,882 shares held directly, 94,433 fully vested restricted shares, and 132,500 unvested restricted shares scheduled to vest between March 21, 2026 and January 30, 2030.
Rafael Holdings, Inc. reported the results of its Annual Meeting of Stockholders held on January 8, 2026. All nominees for the Board of Directors were elected to one-year terms, each receiving around 5.2 million votes for and support levels above 84% of votes cast.
Stockholders also ratified the appointment of CohnReznick LLP as independent registered public accounting firm for the fiscal year ending July 31, 2026, with 6,064,445 votes for and 99.13% support. In addition, they approved an amendment to the 2021 Equity Incentive Plan to increase the Class B common stock available for awards by 1,000,000 shares, with 5,037,413 votes for and 82.34% support.
Rafael Holdings, Inc. reported an insider equity transaction by its Chief Financial Officer. On 12/21/2025, 1,961 shares of Class B common stock were withheld by the company at a price of $1.285 per share to cover tax obligations arising from the vesting of restricted stock, as indicated by transaction code “F.”
After this tax withholding, the officer beneficially owns 258,680 shares. This consists of 76,882 shares held directly, 86,798 fully vested restricted shares and 95,000 unvested restricted shares. The unvested restricted shares are scheduled to vest in installments from January 13, 2026 through January 13, 2029, including quarterly vesting during 2026 and additional tranches in October of 2026 and 2027.