Core Insights - PainReform Ltd. has made significant advancements in both specialty pharmaceuticals and renewable energy technologies during the first half of 2025, focusing on non-opioid solutions for pain management and AI-driven solar analytics [3][12] Pharmaceutical Programs - The company acquired a majority interest in LayerBio, enhancing its pipeline with the OcuRing™-K platform, a novel therapy targeting a global market of approximately $9 billion for post-surgical pain management [6][7] - Continued development of PRF-110 is underway, which showed significant efficacy in the early postoperative period despite not meeting primary endpoints in a Phase 3 trial [7] DeepSolar Division - The DeepSolar division has shown strong momentum, highlighted by the completion of the MyDeepSolar consumer app and acceptance into NVIDIA's Connect Program, which will aid in developing the DeepSolar Predict forecasting solution [3][14] - A successful 92MW pilot project with Econergy in Romania has transitioned into the company's first commercial customer agreement, marking a significant step in commercial deployment [3][14] Financial Performance - The company reduced its net loss to approximately $2.3 million for the six months ended June 30, 2025, down from $12.8 million in the same period the previous year [11] - Research and development expenses significantly decreased to approximately $0.3 million compared to $11.4 million in the prior year, primarily due to the completion of the Phase 3 clinical trial for PRF-110 [9] - As of June 30, 2025, PainReform maintained cash and cash equivalents of approximately $3.5 million and positive working capital of approximately $1.5 million [11]

Core Insights - Shares of PainReform surged nearly 130% after its renewable energy arm, DeepSolar, was accepted into the Nvidia Connect Program, trading at $3.06, although the stock is still down over 20% year-to-date [1] Group 1: Nvidia Partnership and Technology - Through the Nvidia program, DeepSolar will access advanced AI frameworks and tools to enhance its solar forecasting solution, DeepSolar Predict, which aims to improve weather forecast accuracy by up to 50% [2] - The integration of NVIDIA's AI capabilities with DeepSolar's expertise is expected to redefine photovoltaic energy forecasting and optimization [3] Group 2: Financial Performance and Challenges - Despite the recent stock surge, PainReform shares have lost over 80% in the past year, indicating ongoing struggles for the company [4] - The company is diversifying into biotechnology with a majority stake acquisition in LayerBio, which supports the development of OcuRing-K, a drug delivery system for post-surgical pain management [4][5] - The investment in OcuRing-K could total $3 million, with $600,000 already committed [5]

Core Insights - DeepSolar, a solar energy business unit of PainReform Ltd., has been accepted into the NVIDIA Connect Program, which provides access to advanced AI tools and support for developing its solar forecasting platform [1][2][6] - The DeepSolar Predict solution aims to enhance weather prediction accuracy by up to 50%, improving the reliability of solar energy output predictions [2][3] - The software platform has already shown the ability to increase energy production and reduce operational and maintenance costs by up to 30% [4] Company Developments - Participation in the NVIDIA Connect Program allows DeepSolar to leverage NVIDIA's AI frameworks and engineering support, which will aid in the development of its solar forecasting solution [2][6] - Initial engagements with photovoltaic (PV) developers and utility-scale operators are underway to test DeepSolar Predict in real-world scenarios [4] - The advancements in solar forecasting align with growing demands for intelligent asset management solutions in the solar industry, particularly as alternative energy needs increase [3][5] Industry Context - The need for accurate weather forecasting is critical for solar asset owners to balance supply predictions with market conditions [3] - Enhanced predictive capabilities from DeepSolar Predict are expected to provide advantages such as reducing imbalance penalties from inaccurate forecasts and maximizing revenue through improved energy sale timing [8] - The global solar industry is experiencing accelerated deployment, necessitating performance optimization and cost control solutions [3][5]

Core Insights - PainReform Ltd. has acquired a majority equity interest in LayerBio, a biotechnology company focused on sustained-release drug delivery technologies in ophthalmology, particularly targeting the cataract surgery market [1][2][8] - The global cataract surgery market is valued at over $3 billion in the U.S., with an estimated 4.5 million surgeries performed annually, driven by an aging population and improved surgical access [2][3] - LayerBio's lead product, OcuRing™-K, is a sustained-release intraocular ring designed to deliver Ketoralac, addressing the need for "dropless" postoperative solutions in cataract surgery [4][5] Company Overview - PainReform focuses on reformulating established therapeutics and developing AI-driven energy optimization technologies, with a commitment to applying precision technology in healthcare and sustainable energy [9] - LayerBio's technology allows for extended drug release from a single application, minimizing the need for patient-administered drops and maximizing local therapeutic effects [6] - Dr. Ken Mandell, a recognized leader in sustained-release drug delivery, will continue to lead LayerBio, guiding its operations and product development efforts [7] Market Opportunity - The acquisition positions PainReform to address a significant clinical need in the cataract surgery market, with plans to advance OcuRing™-K through clinical development in the U.S. [8] - The companies aim to explore broader ophthalmic applications beyond cataract surgery, including glaucoma and corneal transplants [8] - OcuRing™-K offers a transformative alternative to traditional postoperative regimens, which often involve complex eye drop schedules that can lead to poor patient compliance [3][5]

Core Insights - PainReform Ltd. has signed a strategic investment agreement with LayerBio Inc. to expand into the ophthalmology market, targeting the high-volume cataract surgery segment with a new drug delivery platform [1][2][5] - LayerBio's lead product, OcuRing™-K, is a sustained-release intraocular ring designed to deliver anti-inflammatory and analgesic agents post-cataract surgery, potentially replacing traditional eye drops [3][4] - The investment agreement includes an initial investment of $600,000, with a total commitment of $3 million contingent on achieving specific milestones [4][5] Company Overview - PainReform focuses on reformulating established therapeutics and developing AI-driven energy optimization technologies through its DeepSolar platform [7][8] - The company aims to provide prolonged post-surgical pain relief while minimizing opioid reliance through its proprietary extended-release drug-delivery system [8] Market Opportunity - Approximately 3 million cataract surgeries are performed annually in the United States, presenting a significant clinical and commercial opportunity for OcuRing-K [3] - The strategic investment aligns with PainReform's mission to broaden its non-opiate pain management pipeline in high-need surgical markets [5][6] Leadership and Management - Dr. Ken Mandell, a recognized leader in sustained-release drug delivery and founder of LayerBio, will continue to lead the company [5][6] - Dr. Mandell has a strong background in ophthalmology and biotechnology, holding over 15 U.S. patents and contributing to numerous clinical trials [5]

Group 1 - Blade Ranger Ltd. achieved a first milestone in the sale of its DeepSolar operations to PainReform, resulting in the maturation of zero-exercise-price warrants [1][2] - The agreement completed in March 2025 included common shares of PainReform representing approximately 9.9% of the company's equity and about 3.08 million warrants convertible into common shares [2] - Following the milestone achievement, Blade Ranger received 685,004 warrants exercisable at an exercise price of $0.01 per share, with PainReform's shares trading at approximately $1.91, valuing the warrants at around $2 million [3] Group 2 - The CEO of Blade Ranger stated that the success of PainReform's software sales has improved the company's financial flexibility and supports accelerated business development [4] - The market value of the shares from the matured warrants is approximately NIS 4.5 million based on the current share price [4]

Core Insights - PainReform Ltd. has launched a strategic pilot program with Econergy Renewable Energy Ltd. to utilize its DeepSolar™ platform for optimizing operational efficiency and energy yield at a 92-megawatt photovoltaic plant in Romania [1][2][5] - The pilot aims to demonstrate the performance enhancements that DeepSolar™ can provide for large-scale renewable energy assets by analyzing real-time and historical data [2][6] - Successful completion of the pilot could lead to broader deployment of DeepSolar™ across Econergy's portfolio, potentially reaching a total capacity of 1 Gigawatt [3][6] Company Overview - PainReform Ltd. focuses on reformulating established therapeutics and developing AI-driven energy optimization technologies through its DeepSolar platform [7] - The company aims to apply advanced technologies to improve clean energy operations and has a dual business model that includes both healthcare and sustainable energy sectors [7] Industry Context - Econergy Renewable Energy Ltd. is a leading independent power producer in Europe, with approximately 1 Gigawatt of photovoltaic capacity either operational or under construction [4] - The partnership reflects a shared vision for innovation and sustainability in the renewable energy sector, emphasizing the importance of advanced technologies in optimizing energy production [4][6]

Company Overview - PainReform Ltd. is a clinical-stage specialty pharmaceutical company that has expanded into the Smart Energy Management (SEM) sector following the acquisition of DeepSolar, which provides AI-driven software solutions for optimizing solar energy usage [1][2][7] - The company aims to leverage its AI expertise to address new verticals, focusing on data-centric platforms that drive recurring revenue and operational scalability [6] Strategic Expansion - The expansion into the SEM sector is part of PainReform's long-term diversification strategy to tap into high-growth, tech-enabled markets [2][5] - This move aligns with global energy trends, particularly the increasing demand for decentralized and sustainable energy solutions, as well as the growing global solar capacity [2][5] DeepSolar Product Offering - DeepSolar's MyDeepSolar application utilizes machine learning and predictive analytics for real-time monitoring, yield forecasting, and performance optimization of solar systems [3][4] - The application provides homeowners with insights into their solar system's performance, maximizing returns on solar investments and optimizing energy efficiency [4] Market Context - The entry into the SEM market occurs amid significant M&A activity and institutional investments in solar and smart energy technologies, with governments increasing support for residential optimization through various incentives [5] - The optimization software is seen as a foundational tool in the transition to sustainable energy, providing both economic and environmental value [2]

Core Insights - PainReform Ltd. is expanding into the Smart Energy Management (SEM) sector following the acquisition of DeepSolar, which specializes in AI-driven software for optimizing solar energy usage [1][2][5] - This strategic move is part of PainReform's long-term diversification strategy aimed at entering high-growth, tech-enabled markets, particularly in response to the increasing global demand for decentralized and sustainable energy solutions [2][6] Company Overview - PainReform is a clinical-stage specialty pharmaceutical company that focuses on reformulating established therapeutics and developing AI-driven energy optimization technologies through its DeepSolar platform [7] - The company aims to leverage its expertise in AI to create data-centric platforms that drive recurring revenue and operational scalability in the SEM sector [6][7] Product Details - DeepSolar's MyDeepSolar application utilizes machine learning and predictive analytics for real-time monitoring, yield forecasting, and performance optimization of solar energy systems [3][4] - The application provides homeowners with insights into their solar system's performance, maximizing returns on solar investments and enhancing energy efficiency [4] Market Context - The expansion into SEM aligns with global energy trends and capitalizes on a technology platform with significant commercial scalability [5] - There is a growing trend of mergers and acquisitions in the solar and smart energy technology sectors, supported by government incentives for residential optimization [5]

[Business Update and Strategic Overview](index=1&type=section&id=Business%20Update%20and%20Strategic%20Overview) PainReform provided a 2024 year-end business update, detailing a strategic shift towards high-margin technology sectors via the DeepSolar acquisition, continued PRF-110 drug development, and Nasdaq compliance efforts [Introduction and Key Strategic Shifts](index=1&type=section&id=Introduction%20and%20Key%20Strategic%20Shifts) PainReform provided a year-end business update for 2024, highlighting a strategic shift towards investing in high-margin, technology-driven sectors, exemplified by the DeepSolar acquisition, while continuing to advance its lead drug candidate, PRF-110 - PainReform is expanding its strategy to include high-margin, technology-driven sectors[3](index=3&type=chunk) - The company provided a business update for the year ended December 31, 2024[2](index=2&type=chunk) [PRF-110 Clinical Development Update](index=1&type=section&id=PRF-110%20Clinical%20Development%20Update) The company remains committed to advancing PRF-110 for post-operative pain relief despite a temporary setback in its Phase 3 bunionectomy trial, focusing on addressing a 24-hour data gap and refining the drug's pharmacokinetics and pharmacodynamics - PainReform is committed to advancing PRF-110 for extended post-operative pain relief[3](index=3&type=chunk) - Encountered a temporary setback in Phase 3 clinical trial for PRF-110 in bunionectomy patients[3](index=3&type=chunk) - Launched R&D activities to refine PRF-110's pharmacokinetics and pharmacodynamics based on trial data[3](index=3&type=chunk) [DeepSolar Acquisition and Clean Energy Expansion](index=1&type=section&id=DeepSolar%20Acquisition%20and%20Clean%20Energy%20Expansion) PainReform acquired DeepSolar, an AI-driven solar analytics platform, marking its expansion into the high-growth clean energy sector with expectations for scalable SaaS platform revenue growth and strategic partnerships - Acquired DeepSolar, an AI-driven solar analytics platform, expanding into the clean energy sector[3](index=3&type=chunk) - Expects DeepSolar's scalable SaaS platform to drive revenue growth[3](index=3&type=chunk) - Intends to explore strategic partnerships with utility companies, solar technology providers, and smart grid operators[3](index=3&type=chunk) [Nasdaq Listing Compliance](index=1&type=section&id=Nasdaq%20Listing%20Compliance) Following a notice of non-compliance with Nasdaq's minimum shareholders' equity requirement, PainReform believes it has regained compliance after a $0.9 million ATM raise and the DeepSolar acquisition, and is committed to maintaining its listing standards - Received Nasdaq notice for non-compliance with **$2.5 million** minimum shareholders' equity[4](index=4&type=chunk) - Believes shareholders' equity now exceeds the required threshold after a **$0.9 million** ATM raise and DeepSolar acquisition[4](index=4&type=chunk) [Financial Results for the Year Ended December 31, 2024](index=1&type=section&id=Financial%20Results%20for%20the%20Year%20Ended%20December%2031%2C%202024) The company reported increased R&D expenses and a higher net loss in 2024, while general and administrative expenses decreased, maintaining a positive working capital position [Research and Development Expenses](index=1&type=section&id=Research%20and%20Development%20Expenses) R&D expenses significantly increased in 2024, primarily due to higher clinical trial and manufacturing costs, partially offset by reduced subcontractor and consultant expenses Research and Development Expenses | Year | Amount (approx.) | Change (YoY) | Primary Reason for Change | | :--- | :--- | :--- | :--- | | 2024 | $11.7 million | +$5.7 million | Increase in clinical trial costs and manufacturing expenses, offset by decrease in subcontractors and consultants' expenses | | 2023 | $6.0 million | | | [General and Administrative Expenses](index=1&type=section&id=General%20and%20Administrative%20Expenses) General and administrative expenses decreased in 2024, mainly attributable to lower insurance costs and share-based compensation expenses General and Administrative Expenses | Year | Amount (approx.) | Change (YoY) | Primary Reason for Change | | :--- | :--- | :--- | :--- | | 2024 | $3.0 million | -$0.6 million | Decrease due to insurance costs and share-based compensation expenses | | 2023 | $3.6 million | | | [Financial Income, Net](index=1&type=section&id=Financial%20Income%2C%20Net) Net financial income decreased in 2024 compared to 2023, primarily due to a reduction in cash holdings Financial Income, Net | Year | Amount (approx.) | Change (YoY) | Primary Reason for Change | | :--- | :--- | :--- | :--- | | 2024 | $93,000 | -$155,000 | Decrease due to lower cash in 2024 | | 2023 | $248,000 | | | [Net Loss and Working Capital](index=1&type=section&id=Net%20Loss%20and%20Working%20Capital) PainReform reported a higher net loss in 2024 compared to 2023, but maintained a positive working capital of approximately $2.0 million as of year-end Net Loss | Year | Amount (approx.) | Change (YoY) | | :--- | :--- | :--- | | 2024 | $14.6 million | +$5.3 million | | 2023 | $9.3 million | | - Company had a positive working capital of approximately **$2.0 million** as of December 31, 2024[8](index=8&type=chunk) [Company Information and Disclosures](index=1&type=section&id=Company%20Information%20and%20Disclosures) This section details the filing of the 2024 annual report, provides an overview of PainReform's business, includes forward-looking statements, and lists contact information [Annual Report Filing](index=1&type=section&id=Annual%20Report%20Filing) PainReform filed its annual report on Form 20-F for the year ended December 31, 2024, with the SEC and made it available on its investor relations website, offering hard copies to shareholders upon request - Annual report on Form 20-F for 2024 filed with SEC and available on investor relations website[9](index=9&type=chunk) - Hard copies of the annual report are available to shareholders upon request[9](index=9&type=chunk) [About PainReform](index=2&type=section&id=About%20PainReform) PainReform is a specialty pharmaceutical company focused on reformulating established therapeutics, utilizing a proprietary extended-release drug-delivery system for post-surgical pain relief, and recently expanded into AI-driven solar analytics with the DeepSolar acquisition - PainReform is a specialty pharmaceutical company focused on reformulating established therapeutics[10](index=10&type=chunk) - Develops a proprietary extended-release drug-delivery system for post-surgical pain relief[10](index=10&type=chunk) - Acquired DeepSolar, an AI-driven solar analytics technology, in March 2025[10](index=10&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Forward-Looking%20Statements) The press release includes forward-looking statements regarding PainReform's expectations, beliefs, and intentions, particularly concerning the DeepSolar acquisition's benefits and market opportunities, and cautions readers about inherent risks and uncertainties - Press release contains forward-looking statements about PainReform's expectations, beliefs, and intentions, including anticipated benefits of DeepSolar acquisition[11](index=11&type=chunk) - Forward-looking statements are subject to risks and uncertainties, and actual results may differ materially[11](index=11&type=chunk) [Contact Information](index=2&type=section&id=Contact%20Information) Contact details for investor relations (Crescendo Communications) and PainReform's Chairman and interim CEO, Dr. Ehud Geller, are provided for inquiries - Contact information for investor relations and company management is provided[12](index=12&type=chunk)