New lifecycle-wide audit platform provides complete data coverage, advanced diagnostics, and rapid turnaround, supporting investors, operators, insurers and lenders across commissioning, underperformance, warranty expiry, and asset transactionsTEL AVIV, Israel, Jan. 05, 2026 (GLOBE NEWSWIRE) -- PainReform Ltd. (Nasdaq: PRFX) today announced that its DeepSolar business unit has launched Smart TDD, an advanced solar Technical Due Diligence (“TDD”) service designed to provide faster, more accurate, and more co ...

Core Insights - PainReform Ltd. has completed an R&D assessment of LayerBio's drop-less, sustained-release ocular drug-delivery platform, confirming its potential to reduce or eliminate reliance on medicated eye drops for cataract patients [1][4] - The platform has successfully incorporated corticosteroids and NSAIDs, indicating its technical feasibility for multi-drug delivery [2] - The OcuRing, a pre-fabricated device, allows for sustained-release drug delivery during cataract surgery, improving patient comfort and compliance, particularly among elderly patients [3] Company Overview - PainReform Ltd. focuses on reformulating established therapeutics and developing AI-driven energy optimization technologies through its DeepSolar platform, reflecting a strategic commitment to healthcare and sustainable energy [5] - The company's pharmaceutical programs utilize a proprietary extended-release drug-delivery system aimed at providing prolonged post-surgical pain relief while minimizing the need for repeated dosing and reducing reliance on opioids [5]

Core Viewpoint - PainReform Ltd. has initiated a development plan for OcuRing™-K, a patented sustained-release ocular therapy aimed at improving postoperative care in cataract surgery, targeting a significant market opportunity in the multi-billion-dollar global cataract surgery market [1][5]. Company Overview - PainReform Ltd. focuses on reformulating established therapeutics and developing AI-driven energy optimization technologies through its DeepSolar platform, reflecting a strategic commitment to applying precision technology across healthcare and sustainable energy sectors [10]. Product Development - OcuRing-K is designed as an erodible, intraoperatively administered device that provides sustained-release of ketorolac, addressing the limitations of traditional eye-drop regimens that often deliver less than 5% of the drug to the target site [2][3]. - The development plan for OcuRing-K includes progressing towards a Phase II clinical trial, with a focus on post-cataract pain and inflammation as the initial target indication [1][7]. Clinical and Market Context - Cataract surgery is a prevalent procedure, with approximately 4.5 million surgeries performed annually in the U.S. and a global surgical procedure volume exceeding $9 billion [5]. - Current postoperative management relies heavily on multi-week corticosteroid and NSAID eye-drop regimens, which are burdensome for elderly patients and often inconsistently delivered [5]. Technological Advantages - OcuRing-K's in-situ depot formulation allows for direct, localized delivery to target tissues, providing controlled and stable therapeutic coverage while reducing systemic exposure and contamination risks associated with traditional drops [3][4]. - Preclinical studies and Phase I evaluations have shown that OcuRing-K can reduce post-surgical pain and inflammation with lower total drug exposure compared to standard regimens, enhancing patient compliance [4]. Future Plans - PainReform and LayerBio plan to advance OcuRing-K through its next stage of clinical development in the U.S., which could unlock a high-volume reimbursable market and enable expansion into additional ophthalmic indications [7].

Core Insights - PainReform Ltd. has announced advancements in its solar energy business unit, DeepSolar, focusing on the development of an automated reporting engine that enhances solar asset performance analysis and communication [1][3]. Company Overview - PainReform Ltd. operates in two main sectors: reformulating established therapeutics and developing AI-driven energy optimization technologies through its DeepSolar platform [5]. - DeepSolar specializes in advanced digital asset management technologies for utility-scale solar plants, utilizing AI algorithms to convert complex operational data into actionable insights [4][5]. Product Development - The new AI-powered reporting engine aims to automate the process of generating performance reports, which currently requires manual data aggregation from various systems [2][3]. - This engine will consolidate and interpret data from multiple sources, providing customized reports in minutes, tailored to user-defined analysis depth, visualization style, and reporting frequency [3]. Strategic Vision - The automated reporting system is seen as a significant step towards making DeepSolar's AI capabilities more practical and accessible, facilitating a quicker transition from analysis to actionable insights [4].

Core Insights - PainReform Ltd.'s solar energy business unit, DeepSolar, is gaining attention for its AI-driven solar analytics, particularly through its participation in the NVIDIA Connect program [1][2] - DeepSolar Predict, an AI-based forecasting module, aims to enhance energy production forecasts and operational decision-making for solar asset managers [2][4] - The increasing operational complexity in utility-scale solar necessitates advanced data interpretation and management strategies to maintain profitability in a volatile market [3] Company Overview - DeepSolar develops advanced digital asset management technologies specifically for utility-scale solar plants, utilizing AI algorithms to transform operational data into actionable insights [6] - The company is focused on commercial deployment and is progressing towards its first pilot projects with prospective customers, indicating potential long-term value creation [5][6] - PainReform Ltd. operates with a dual business model, combining pharmaceutical programs with AI-driven energy optimization technologies through DeepSolar, reflecting a strategic commitment to high-impact sectors [7]

Financial Performance - The company reported a net loss of $2,316,000 for the six months ended June 30, 2025, a significant reduction compared to a loss of $12,818,000 for the same period in 2024, indicating an improvement of approximately 82%[4] - The Company reported a total operating loss of $2,368,000 for the six months ended June 30, 2025, with the clinical development segment contributing a loss of $1,687,000 and the solar segment contributing a loss of $681,000[55] - The Company reported a loss before taxes on income of $2,316,000 for the reporting period[55] Assets and Liabilities - As of June 30, 2025, total assets increased to $11,162,000 from $4,525,000 as of December 31, 2024, representing a growth of 146%[3] - The accumulated deficit increased to $58,767,000 as of June 30, 2025, compared to $56,451,000 as of December 31, 2024, showing an increase of 4%[3] - Cash and cash equivalents decreased to $3,479,000 as of June 30, 2025, down from $4,261,000 at the end of 2024, reflecting a decline of 18%[3] - The total accrued expenses as of June 30, 2025, were $1,831,000, slightly down from $1,904,000 as of December 31, 2024, indicating a decrease of approximately 3.8%[25] Capital and Financing - The company raised $1,338,000 from the issuance of shares, warrants, and prefunded warrants during the six months ended June 30, 2025[9] - Management plans to continue capital raising through the sale of additional equity securities and strategic partnerships to fund operations[16] - Between June 30, 2025, and the date of issuance of the financial statements, the Company raised approximately $2.7 million by issuing 1,062,199 ordinary shares under its At-the-Market offering program[58] - The company generated gross proceeds of approximately $1.34 million from the issuance of 362,960 ordinary shares through an At-the-Market (ATM) offering between January 1, 2025, and June 30, 2025[28] Acquisitions and Investments - The company completed an asset acquisition of AI-driven solar analytics technology, DeepSolar, in March 2025, enhancing its technology portfolio[11] - In August 2025, the company acquired a majority equity interest in LayerBio, Inc., which is advancing sustained-release drug delivery technologies in ophthalmology[12] - The Company has entered into a Preferred Stock Purchase Agreement to acquire 51% of LayerBio for $600, with potential additional investment of up to $2.4 million contingent on specific milestones[58] - The company completed an asset acquisition of Bladeranger Ltd. for a total consideration valued at $7,292,000, which included the issuance of various warrants and shares[44] - The fair value of the acquired intangible asset from the acquisition was determined using a discounted cash flow approach, resulting in a net carrying amount of $7,119,000 after accumulated amortization of $173,000[45] Operational Insights - The company expects to continue incurring losses until its products reach commercial profitability, with no assurance of achieving this[15] - As of June 30, 2025, no revenue was recognized in either the clinical development or the solar segment[54] - Consulting expenses for the clinical development segment totaled $740,000, while the solar segment incurred $285,000 in consulting expenses[55] Shareholder and Management Actions - The company approved an increase in its authorized share capital by an additional 7,500,000 ordinary shares, pending shareholder approval[29] - As of June 30, 2025, the company had 220,320 options outstanding under the 2019 Share Option Plan, with a weighted average exercise price of $10.26[33] - The company’s management does not expect the ongoing military conflict in Israel to have a material impact on its operations or business results[23] - The company’s lease agreement for its principal offices was extended until July 31, 2026, with an annual rent reduction of approximately $12,000[26] - The Company extended its lease agreement for its principal offices in Tel Aviv, Israel, to July 2026, with monthly rent of $5, linked to the CPI, and total lease expenses of $30,000 in 2025[50] - The weighted average remaining lease term for the Company's office space is 1 year, with a discount rate of 8.5%[50] Financial Income - For the six months ended June 30, 2025, the total financial income, net was $52,000, a decrease of 43.5% compared to $92,000 for the same period in 2024[52] - The company recognized share-based compensation expenses of $389,000 for the year ended June 30, 2025, compared to $146,000 for the year ended June 30, 2024, reflecting an increase of 166%[36]

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]