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]

Financial Performance - The company reported net losses of approximately $5,981,000 and $10,324,000 for the three and six months ended June 30, 2024, compared to net losses of approximately $4,636,000 and $9,644,000 for the same periods in 2023[85]. - Total revenues for the three-month period ended June 30, 2024 increased by 5% to approximately $123,000, while revenues for the six-month period increased by 21% to approximately $326,000 compared to the same periods in 2023[86]. - Sales of Trappsol® HPB decreased by 63% for the three-month period ended June 30, 2024 to approximately $21,000, but increased by 54% for the six-month period to approximately $220,000 compared to the same periods in 2023[86]. - Sales of other Trappsol® products increased by 68% for the three-month period ended June 30, 2024 to approximately $101,000, but decreased by 10% for the six-month period to approximately $104,000 compared to the same periods in 2023[86]. - The three largest customers accounted for 89% of sales during the six months ended June 30, 2024, with the largest customer accounting for 33% of sales[88]. Expenses - Cost of products sold for the three-month period ended June 30, 2024 decreased by 35% to approximately $13,000, and for the six-month period decreased by 17% to approximately $25,000 compared to the same periods in 2023[89]. - Personnel expenses increased by 17% to approximately $916,000 for the three months ended June 30, 2024, and increased by 3% to approximately $1,738,000 for the six months ended June 30, 2024 compared to the same periods in 2023[92]. - Research and development expenses increased by 10% to approximately $3,492,000 for the three months ended June 30, 2024, but decreased by 4% to approximately $6,337,000 for the six months ended June 30, 2024 compared to the same periods in 2023[93]. - Office and other expenses increased by 204% to approximately $829,000 for the three months ended June 30, 2024, and increased by 210% to approximately $1,721,000 for the six months ended June 30, 2024 compared to the same periods in 2023[94]. Cash Flow and Capital - Cash decreased to approximately $1,122,000 as of June 30, 2024, compared to approximately $9,247,000 as of December 31, 2023[96]. - Negative working capital was approximately $5,378,000 as of June 30, 2024, compared to positive working capital of approximately $3,850,000 at December 31, 2023[96]. - Net cash used in operating activities was approximately $10,030,000 for the six months ended June 30, 2024, compared to approximately $7,849,000 for the same period in 2023, reflecting increased clinical trial activities[100]. - Net cash provided by financing activities was approximately $1,905,000 for the six months ended June 30, 2024, down from approximately $7,147,000 for the same period in 2023[100]. - The company will need to raise additional capital to support ongoing operations and clinical trials, with no guarantee of success[97]. Tax and Valuation - The company has approximately $49,807,000 in net state and federal operating loss carryforwards expiring from 2024 through 2037[99]. - A 100% valuation allowance was provided on the deferred tax asset based on expected future expenses related to clinical trials and development initiatives[99]. Internal Controls and Compliance - Disclosure controls and procedures were not effective as of June 30, 2024, indicating potential issues in financial reporting[103]. - A material weakness in internal controls over the accounting of complex equity instruments was identified, necessitating remediation efforts[103]. - The company had no off-balance sheet arrangements as of June 30, 2024[99]. Research and Development - The company is exploring the use of cyclodextrins in the treatment of Alzheimer's disease, with a Phase II study initiated in 2023 following IND clearance from the FDA[83].

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 ...