NEWARK, N.J. and GAINESVILLE, Fla., March 26, 2025 (GLOBE NEWSWIRE) -- Rafael Holdings, Inc. (NYSE:RFL), and Cyclo Therapeutics, Inc. (NASDAQ:CYTH) today announced the closing of their business combination following approval by shareholders of both companies. Rafael Holdings issued shares of its Class B common stock to Cyclo Therapeutics' shareholders representing approximately 22% of the combined company, based on the exchange ratio in the merger agreement between the parties determined to be 0.3525. Rafae ...

Dublin, Nov. 21, 2024 (GLOBE NEWSWIRE) -- The "Niemann-Pick disease - Pipeline Insight, 2024" clinical trials has been added to ResearchAndMarkets.com's offering.This "Niemann-Pick disease - Pipeline Insight, 2024," report provides comprehensive insights about 10+ companies and 12+ pipeline drugs in Niemann-Pick disease pipeline landscape. It covers the pipeline drug profiles, including clinical and nonclinical stage products. It also covers the therapeutics assessment by product type, stage, route of admi ...

分组1 - Cyclo Therapeutics reported a quarterly loss of $0.26 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.17, and compared to a loss of $0.29 per share a year ago, indicating a surprise of -52.94% [1] - The company posted revenues of $0.23 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 24.52%, and down from $0.5 million in the same quarter last year [2] - Cyclo Therapeutics shares have declined approximately 54.7% since the beginning of the year, contrasting with the S&P 500's gain of 25.5% [3] 分组2 - The earnings outlook for Cyclo Therapeutics is uncertain, with current consensus EPS estimates at -$0.19 on $0.21 million in revenues for the upcoming quarter and -$0.72 on $0.89 million in revenues for the current fiscal year [7] - The Zacks Industry Rank for Medical - Biomedical and Genetics is in the top 29% of over 250 Zacks industries, suggesting that the industry outlook can significantly impact stock performance [8] - The estimate revisions trend for Cyclo Therapeutics is mixed, resulting in a Zacks Rank 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6]

Financial Performance - Product sales for the three months ended September 30, 2024, were $233,772, down from $495,477 in the same period in 2023, representing a decrease of 52.8%[10] - Gross profit for the nine months ended September 30, 2024, was $517,324, compared to $696,134 for the same period in 2023, a decline of 25.7%[10] - Total revenues for the three months ended September 30, 2024, were $233,772, a decrease of 52.8% compared to $495,477 for the same period in 2023[69] - For the nine months ended September 30, 2024, total revenues were $559,326, down 26.9% from $765,006 in the prior year[69] - The product mix for revenues consisted of 99% basic natural and chemically modified cyclodextrins for the nine months ended September 30, 2024[73] Expenses and Losses - Total expenses increased to $19,563,520 for the nine months ended September 30, 2024, from $15,103,668 in the same period in 2023, an increase of 29.8%[10] - The net loss for the nine months ended September 30, 2024, was $(19,157,261), compared to $(14,414,893) for the same period in 2023, reflecting an increase in loss of 32.5%[10] - For the three months ended September 30, 2024, Cyclo Therapeutics reported a net loss of $8,832,944, compared to a net loss of $4,771,353 for the same period in 2023, reflecting an increase of 85% in losses year-over-year[11] - For the nine months ended September 30, 2024, the net loss was $19,157,261, compared to $14,414,893 for the same period in 2023, representing a 33% increase in losses[13] Cash Flow and Assets - Cash and cash equivalents decreased significantly from $9,246,592 in December 2023 to $928,010 in September 2024, a drop of approximately 90%[8] - Cyclo Therapeutics experienced a cash outflow of $18,222,671 from operating activities for the nine months ended September 30, 2024, compared to $11,890,144 for the same period in 2023, indicating a 53% increase in cash used[13] - As of September 30, 2024, cash and cash equivalents were $928,010, a decrease from $1,801,809 at the end of September 30, 2023[13] - The Company had negative working capital of $15,463,491 as of September 30, 2024, compared to positive working capital of $3,850,000 at December 31, 2023[133] Shareholder Equity - The accumulated deficit increased from $(83,856,681) in December 2023 to $(103,013,942) in September 2024, an increase of approximately 22.9%[8] - The total stockholders' equity deficit as of September 30, 2024, was $(13,473,340), a decrease from $(1,052,670) as of September 30, 2023, indicating a significant deterioration in equity position[11] Research and Development - Research and development expenses for the three months ended September 30, 2024, were $5,492,844, compared to $3,469,067 in the same period in 2023, an increase of 58.3%[10] - Research and development costs are expensed as incurred, primarily consisting of materials for clinical trials and personnel-related expenses[49] - The Company’s prepaid clinical expenses include active pharmaceutical ingredients and other raw materials for the Trappsol® Cyclo™ drug, expected to be utilized in clinical trials[41] Mergers and Acquisitions - The Company completed a strategic merger with Applied Molecular Transport Inc. on December 27, 2023, with AMTI becoming a wholly-owned subsidiary[17] - The proposed merger with Rafael Holdings is expected to close in late December 2024, subject to customary conditions and stockholder approvals[28] - The company entered into a merger agreement with Rafael Holdings, which will result in the company becoming a wholly-owned subsidiary of Rafael[115] Compliance and Regulatory - The company received a Nasdaq delisting notice on October 4, 2024, due to non-compliance with four listing rules, including a closing bid price below $1.00 per share for 30 consecutive trading days[101] - The company has 180 days from October 4, 2024, to regain compliance with Nasdaq listing rules, with the possibility of an additional 180 days under certain conditions[102] Internal Controls and Accounting - The company identified a material weakness in internal controls related to the accounting of complex equity instruments, which is being addressed through updated internal procedures[146] - The financial statements were prepared on a going concern basis, with substantial doubt about the company's ability to continue as a going concern due to reliance on future capital raising efforts[136] Capital Raising - Cyclo Therapeutics raised $10,000,000 from the issuance of a convertible note during the nine months ended September 30, 2024[13] - The company has entered into multiple convertible promissory notes with Rafael Holdings, totaling $10,000,000, with a maturity date of December 21, 2024[83] Inventory and Assets - The Company has recorded no reserve for obsolete inventory as of September 30, 2024, and December 31, 2023[39] - The Company’s inventory consists of cyclodextrin products and chemical complexes recorded at the lower of cost or net realizable value[39]

MILWAUKEE, Aug. 23, 2024 /PRNewswire/ -- Ademi LLP is investigating Cyclo Therapeutics (Nasdaq: CYTH) for possible breaches of fiduciary duty and other violations of law in its transaction with Rafael Holdings. Click here to learn how to join our investigation https://www.ademilaw.com/case/cyclo-therapeutics-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you. Cyclo Therapeutics stockholders will receive only a certain number of shares of Class B common stock of Rafael Ho ...

NEW YORK, Aug. 22, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Cyclo Therapeutics, Inc. (Nasdaq: CYTH), relating to its proposed merger with Rafael Holdings, Inc. Under the terms of the agreement, Cyclo common stock will automatically be converted into t ...

Group 1 - Cyclo Therapeutics, Inc. reported a quarterly loss of $0.21 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.14, representing an earnings surprise of -50% [1] - The company posted revenues of $0.12 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 69.25%, with no year-over-year revenue growth [2] - Cyclo Therapeutics shares have declined approximately 26.4% since the beginning of the year, contrasting with the S&P 500's gain of 13.9% [3] Group 2 - The earnings outlook for Cyclo Therapeutics is mixed, with the current consensus EPS estimate for the coming quarter at -$0.15 on revenues of $0.4 million, and -$0.62 on revenues of $1.5 million for the current fiscal year [7] - The Zacks Industry Rank for Medical - Biomedical and Genetics is in the top 29% of over 250 Zacks industries, indicating a favorable industry outlook [8]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended: June 30, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ____ to ____ Commission file number: 0-25466 CYCLO THERAPEUTICS, INC. (Exact name of registrant as specified in its charter) | --- | --- | |----------------------------- ...

NEWARK, N.J., June 14, 2024 (GLOBE NEWSWIRE) -- Rafael Holdings, Inc. (NYSE: RFL), today reported its financial results for the third quarter and the first nine months of fiscal 2024 ended April 30, 2024. "During fiscal 2024, we have continued to develop our existing portfolio while actively evaluating opportunities for strategic investment," said Bill Conkling, CEO of Rafael Holdings. Bill added, "We are particularly pleased that Cyclo Therapeutics (Nasdaq:CYTH) announced the completion of enrollment in it ...

FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended: March 31, 2024 or ☐Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ____ to ____ Commission file number: 0-25466 CYCLO THERAPEUTICS, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the ...