Can-Fite BioPharma Ltd.

Can-Fite BioPharma Ltd. reported $405K in revenue for FY 2025, down 40% from $674K in FY 2024. The company incurred a net loss of $9.8M, widening from $7.9M in FY 2024. Research and development expenses rose 16.3% to $6.7M, while general and administrative expenses increased 20.2% to $3.7M. Operating loss was $9.9M, with total operating expenses at $10.4M. Net cash used in operating activities was $8.9M, partially offset by $9.6M in financing inflows — primarily from ATM and registered direct offerings. As of December 31, 2025, the company held $5.5M in cash and cash equivalents and $3.0M in short-term deposits, totaling $8.5M in liquid assets. Total shareholders’ equity stood at $5.6M. Management stated its existing resources are sufficient to meet liquidity needs for at least twelve months from the filing date. The company remains pre-commercial, with no product approvals or sales-based royalties recognized. Its pipeline includes Piclidenoson (psoriasis), Namodenoson (HCC/MASH), and CF602 (erectile dysfunction), all in clinical development.

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