Revenue and Financial Performance - Rafael Holdings reported a product revenue of approximately $243 thousand for the three and nine months ended April 30, 2025, compared to $0 for the same periods in 2024, primarily due to the inclusion of Cyclo's revenue following the merger[374]. - Infusion Technology segment revenue decreased by 84% to $42,000 for the three months ended April 30, 2025, compared to $262,000 in the same period of 2024[378]. - Real Estate segment rental revenue increased by 4% to $49,000 for the three months ended April 30, 2025, compared to $47,000 in the same period of 2024[382]. - Consolidated loss from operations improved by 94% to $5.9 million for the three months ended April 30, 2025, compared to a loss of $93.2 million in the same period of 2024[383]. - Interest income for the three months ended April 30, 2025, was $0.5 million, consistent with the same period in 2024[384]. - Unrealized loss on investment in Cyclo was $1.4 million for the three months ended April 30, 2025, a decrease of 68% compared to a loss of $4.4 million in the same period of 2024[386]. - Other income, net was $0.2 million for the three months ended April 30, 2025, attributed to gains from asset sales, compared to no other income in the same period of 2024[391]. - Revenue from tenants located in Israel represented 41% of consolidated revenues for the nine months ended April 30, 2025, with the entirety of these revenues in currencies other than the U.S. Dollar[413]. Expenses and Impairments - The company's general and administrative expenses increased by 90% to $3,102 thousand for the three months ended April 30, 2025, compared to $1,636 thousand in the same period of 2024, largely due to legal and professional fees associated with the Cyclo merger[375]. - Research and development expenses rose by 148% to $3,003 thousand for the three months ended April 30, 2025, compared to $1,212 thousand in the same period of 2024, driven by Cyclo's inclusion and ongoing activities at LipoMedix and Cornerstone[376]. - The Infusion Technology segment recorded a goodwill impairment charge of $3.1 million during the nine months ended April 30, 2025, indicating a significant decline in asset value[379]. - The company recorded an impairment charge of $3.1 million related to the Infusion Technology segment's goodwill during the nine months ended April 30, 2025[407]. Cash and Assets - Cash and cash equivalents increased by 1,318% to $37.9 million as of April 30, 2025, compared to $2.7 million on July 31, 2024[393]. - Total assets increased by 12% to $108.1 million as of April 30, 2025, compared to $96.8 million on July 31, 2024[393]. - As of April 30, 2025, the company held cash and cash equivalents of approximately $37.9 million, expected to meet obligations for at least the next 12 months[394]. - Cash used in operating activities increased by $3.6 million, from $4.9 million for the nine months ended April 30, 2024, to $8.5 million for the nine months ended April 30, 2025, primarily due to increased operating activity following the Cyclo Merger[395]. - Cash provided by investing activities for the nine months ended April 30, 2025, included proceeds of $80.7 million from sales and maturities of available-for-sale securities[396]. - Cash used in financing activities for the nine months ended April 30, 2025, included a payment for taxes related to shares withheld for employee taxes of $108 thousand[398]. - Cash provided by financing activities for the nine months ended April 30, 2024, was primarily related to proceeds from the sale of RMD membership units of $0.9 million[399]. Clinical and Product Development - The loss from operations for the Healthcare segment decreased by 94% to $5,884 thousand for the three months ended April 30, 2025, compared to a loss of $92,782 thousand in the same period of 2024[372]. - Rafael Holdings holds a 95% interest in LipoMedix, which has completed various clinical stages of its product candidate, Promitil®, treating a total of 149 patients[364]. - The company intends to fund the TransportNPC Phase 3 clinical trial for Trappsol® Cyclo™ with results expected later this month, which will inform the decision on filing a New Drug Application (NDA)[363]. - Following the merger with Cyclo, Rafael Holdings is focusing on Trappsol Cyclo™ as its lead clinical program, evaluating its operating entities to align resources with core assets[361]. - Rafael Medical Devices received FDA clearance for the VECTR System, which is intended for minimally invasive surgeries, marking a significant milestone for the company[369]. - As of April 30, 2025, Rafael Holdings holds a 67% interest in Cornerstone Pharmaceuticals following a restructuring, which has become a consolidated subsidiary[368]. Inventory and Dividends - The company did not have any inventory as of July 31, 2024, and recognized inventory acquired in the Cyclo Merger at its fair value of $270 thousand[410]. - The company determined no reserve for obsolete inventory was necessary as of April 30, 2025[410]. - The company does not anticipate paying dividends on common stock until achieving sustainable profitability and retaining certain minimum cash reserves[399].

"We are pleased to have completed our merger with Cyclo Therapeutics and look forward to reporting the topline data from the 48- week interim analysis of the pivotal Phase 3 TransportNPC™ study evaluating Trappsol Cyclo™ for the treatment of Niemann-Pick Disease Type C1 anticipated later this month," said Howard Jonas, Chief Executive Officer, Executive Chairman and Chairman of the Board of Rafael Holdings. Mr. Jonas added, "We have enhanced our financial position with the closing of a $25 million rights of ...

NEWARK, N.J., June 11, 2025 (GLOBE NEWSWIRE) -- Rafael Holdings, Inc. (NYSE: RFL; NYSE American: RFL-WT), today reported its financial results for the third quarter and first nine months of fiscal year 2025 ended April 30, 2025. “We are pleased to have completed our merger with Cyclo Therapeutics and look forward to reporting the topline data from the 48-week interim analysis of the pivotal Phase 3 TransportNPC™ study evaluating Trappsol® Cyclo™ for the treatment of Niemann-Pick Disease Type C1 anticipated ...

NEWARK, N.J., June 04, 2025 (GLOBE NEWSWIRE) -- Rafael Holdings, Inc. (NYSE: RFL; NYSE American: RFL-WT) announced today the final results and closing of its $25.0 million rights offering (the “Rights Offering”). The subscription period of the Rights Offering expired at 5:00 P.M. Eastern Time, on May 29, 2025. The Rights Offering resulted in subscriptions for 3,130,480 shares of Class B common stock at an exercise price of $1.28 per share for aggregate gross proceeds of $4,007,014.40.The subscriptions do no ...

Core Points - Rafael Holdings, Inc. announced revised subscription rights for its rights offering, with a Record Date of May 9, 2025 [1][5] - The rights offering will allow holders to purchase shares of Class B Common Stock at a subscription price of $1.28 per share [3][4] - The subscription period will run from May 13, 2025, to May 29, 2025, unless extended or terminated [5][7] Rights Offering Details - Each holder will receive one non-transferable subscription right for each share held as of the Record Date, allowing the purchase of 0.603 of a share of Class B Common Stock [3] - Subscription rights can only be exercised in whole numbers, and fractional shares will not be issued [3] - Howard Jonas, the Executive Chairman, will enter into a Standby Purchase Agreement to buy any unsubscribed shares at the same price [4] Participation Requirements - Former holders of Cyclo Therapeutics, Inc. must submit their letter of transmittal to Equiniti Trust Company to participate in the rights offering [2] - Holders must complete open market purchases by May 8, 2025, to be considered record holders on the Record Date [1][7] Important Dates - May 8, 2025: Ownership Day for shares and/or Public Warrants [7] - May 9, 2025: Record Date [7] - May 13, 2025: Subscription Period Begins [7] - May 29, 2025: Subscription Period Ends at 5:00 PM ET [5][7] Company Overview - Rafael Holdings, Inc. holds interests in clinical and early-stage pharmaceutical companies, including Cyclo Therapeutics, LLC, which is developing Trappsol Cyclo™ for Niemann-Pick Disease Type C1 [10]

NEWARK, N.J., April 29, 2025 (GLOBE NEWSWIRE) -- Rafael Holdings, Inc. (NYSE: RFL; NYSE American: RFL-WT) today announced a rights offering, including key dates and terms. The planned offering is designed to provide existing stockholders and holders of our public warrants (“Holders”) the opportunity to purchase additional shares of Rafael Holdings’ Class B common stock, par value $0.01 per share (“Class B Common Stock”), subject to the terms outlined below for an aggregate offering of $25 million. The funds ...

Cyclo Therapeutics’ TransportNPC™ Phase 3 clinical trial for Trappsol® Cyclo™ for the treatment of Niemann-Pick Disease Type C1, a rare and fatal genetic disease, is fully enrolled and results from the 48-week interim analysis are expected in the middle of 2025 NEWARK, N.J., April 24, 2025 (GLOBE NEWSWIRE) -- Rafael Holdings, Inc. (NYSE: RFL; NYSE American: RFL-WT) today announced that, following the merger with Cyclo Therapeutics, Bill Conkling will be stepping down as CEO and assuming an advisory role wit ...

Financial Performance - As of January 31, 2025, the healthcare segment reported a loss from operations of $3,259,000 for the three months ended January 31, 2025, compared to a loss of $3,148,000 for the same period in 2024, reflecting a 4% increase in losses [378]. - Consolidated loss from operations was $6.6 million for the three months ended January 31, 2025, an increase of 111% compared to a loss of $3.1 million in 2024 [386]. - Net loss attributable to Rafael Holdings, Inc. was $4.6 million for the three months ended January 31, 2025, compared to net income of $6.0 million in 2024, marking a 177% decline [386]. - Cash used in operating activities increased from $4.7 million for the six months ended January 31, 2024, to $5.4 million for the six months ended January 31, 2025, reflecting a shift from net income to net loss [399]. Revenue and Expenses - Research and development expenses for the healthcare segment increased by 40% to $857,000 for the three months ended January 31, 2025, compared to $612,000 for the same period in 2024 [378]. - General and administrative expenses decreased by 4% to $2,402,000 for the three months ended January 31, 2025, compared to $2,514,000 for the same period in 2024 [378][379]. - Infusion Technology segment reported revenue of $51,000 for the six months ended January 31, 2025, a 100% increase compared to no revenue in the same period of 2024 [383]. - Real Estate segment rental revenue from third parties increased by 17% to $48,000 for the three months ended January 31, 2025, compared to $41,000 in 2024 [385]. Cash Flow and Assets - Cash and cash equivalents increased to $48.3 million as of January 31, 2025, a 1,706% increase from $2.7 million in July 2024 [397]. - Total assets decreased by 14% to $83.0 million as of January 31, 2025, down from $96.8 million in July 2024 [397]. - Operating activities generated a cash outflow of $5.4 million for the six months ended January 31, 2025, a 15% increase in outflow compared to $4.7 million in 2024 [398]. - Cash provided by investing activities for the six months ended January 31, 2025, was $80.7 million from sales and maturities of available-for-sale securities, offset by purchases of approximately $16.9 million [400]. Impairments and Losses - The Infusion Technology segment incurred a goodwill impairment charge of $3.1 million during the three months ended January 31, 2025 [384]. - The company recorded a goodwill impairment charge of $3.1 million related to the Infusion Technology segment during the three months ended January 31, 2025 [413]. - The company recognized an unrealized loss of $3.8 million on investment in Cyclo for the six months ended January 31, 2025 [390]. Strategic Focus and Developments - Rafael Holdings plans to focus on Trappsol® Cyclo™ as its lead clinical program following the planned merger with Cyclo Therapeutics, which is expected to close in mid-2025 [365][369]. - The company has entered into a license agreement for one of its technologies that is in the pre-clinical research stage, as part of its strategic focus on core assets [365]. - Day Three, in which Rafael Holdings acquired a controlling interest, is currently evaluating its technology offerings amid reduced operations [376]. - Following the acquisition of Cornerstone in March 2024, Rafael Holdings now holds a 67% interest in Cornerstone, which has become a consolidated subsidiary [373]. Funding and Investments - The company raised $925,000 in August 2023 for Rafael Medical Devices, which is developing the VECTR System for minimally invasive surgeries [374]. - Cash used in financing activities for the six months ended January 31, 2025, included a payment for taxes related to shares withheld for employee taxes of $75 thousand [403]. - The company does not anticipate paying dividends until achieving sustainable profitability and retaining certain minimum cash reserves [404]. Currency and Revenue Sources - Revenue from tenants located in Israel represented 75% of consolidated revenues for the six months ended January 31, 2025, with all revenues in currencies other than the U.S. Dollar [415].

Financial Performance - Rafael Holdings reported a net loss of $4.6 million, or $0.19 per share, for the three months ended January 31, 2025, compared to a net income of $6.0 million, or $0.25 per share, in the same period last year [4]. - For the first six months of fiscal year 2025, the company recorded a net loss of $13.6 million, or $0.57 per share, versus a net income of $2.4 million, or $0.10 per share, in the prior year [7]. - Rafael Holdings experienced unrealized losses of $1.1 million on its investment in Cyclo equity during the quarter, compared to unrealized gains of $9.7 million in the prior year [4]. Cash and Assets - Cash and cash equivalents as of January 31, 2025, were $48.3 million, a significant increase from $2.7 million as of July 31, 2024 [3]. - The company reported a total equity of $69.4 million as of January 31, 2025, down from $82.2 million as of July 31, 2024 [13]. - The company’s total assets decreased to $83.0 million as of January 31, 2025, from $96.8 million as of July 31, 2024 [13]. Expenses - Research and development expenses for the three months ended January 31, 2025, were $0.9 million, up from $0.6 million in the same period last year [5]. - General and administrative expenses remained stable at $2.6 million for both the three months ended January 31, 2025, and 2024 [6]. Future Plans - The planned merger with Cyclo Therapeutics is expected to close in Q3 2025, pending shareholder approvals [1]. - The company anticipates topline data from the interim analysis of 104 enrolled patients in the Phase 3 trial for Trappsol Cyclo™ in mid-2025 [2].

Core Viewpoint - The planned merger with Cyclo Therapeutics is expected to close in Q3 2025, pending shareholder approvals, with a strategic focus on Cyclo's lead clinical program, Trappsol Cyclo™ [1][2]. Financial Results - For the three months ended January 31, 2025, the company reported a net loss of $4.6 million, or $0.19 per share, compared to a net income of $6.0 million, or $0.25 per share in the same period last year [4]. - For the six months ended January 31, 2025, the net loss was $13.6 million, or $0.57 per share, compared to a net income of $2.4 million, or $0.10 per share in the prior year [6]. - Cash and cash equivalents as of January 31, 2025, were $48.3 million [3]. Expenses - Research and development expenses for the three months ended January 31, 2025, were $0.9 million, up from $0.6 million in the previous year [5]. - For the six months ended January 31, 2025, research and development expenses totaled $2.3 million, compared to $1.1 million in the same period last year [7]. - General and administrative expenses were $2.6 million for the three months ended January 31, 2025, consistent with the previous year, and $5.1 million for the six months, up from $4.6 million [5][7]. Investment and Merger Details - The company has incurred unrealized losses of $1.1 million on its investment in Cyclo equity and convertible notes receivable from Cyclo, compared to unrealized gains of $9.7 million in the prior year [4]. - The merger with Cyclo Therapeutics is aimed at advancing Trappsol Cyclo™, which is currently in a Phase 3 trial for Niemann-Pick Disease Type C1 [2][8].