Group 1 - The Raytheon-Rafael Protection Systems (R2S) joint venture has secured a $1.25 billion contract to supply Israel with Tamir surface-to-air missiles, marking a significant milestone for both companies [1][3] - A new facility in East Camden, Arkansas, was established with a $33 million investment to support the production of Iron Dome interceptors, specifically the Tamir missiles for both the Iron Dome and its U.S. variant, SkyHunter [2][3] - The Iron Dome system, operational since 2011, has demonstrated a success rate exceeding 95% in intercepting threats, showcasing its effectiveness in combat [3] Group 2 - Raytheon, as part of RTX, is a leading provider of defense solutions, focusing on integrated air and missile defense, smart weapons, and advanced sensors [5][6] - Rafael Advanced Defense Systems Ltd. is one of Israel's largest defense companies, providing a wide range of high-tech defense systems for various applications [4] - RTX, the world's largest aerospace and defense company, reported sales exceeding $80 billion for 2024 and employs over 185,000 people globally [6]

Financial Performance - Rafael Holdings reported a 100% increase in product revenue for the Healthcare segment, reaching approximately $515 thousand for the year ended July 31, 2025, compared to $0 in the previous year[466]. - General and administrative expenses rose by 58% to $13.165 million in 2025, primarily due to the consolidation of Cyclo's expenses following the merger[467]. - Research and development expenses surged by 243% to $12.568 million, largely driven by the inclusion of Cyclo's R&D costs post-merger[468]. - The Infusion Technology segment experienced a 74% decline in revenue, dropping to $93 thousand from $355 thousand in 2024[470]. - An impairment charge of $3.1 million was recorded for the Infusion Technology segment's goodwill due to a decline in estimated fair value[471]. - Consolidated loss from operations improved by 72% to $(29.2) million in 2025 from $(102.6) million in 2024[474]. - Net loss attributable to Rafael Holdings, Inc. decreased by 11% to $(30.5) million in 2025 from $(34.4) million in 2024[474]. Cash Flow and Assets - Cash and cash equivalents surged by 1,873% to $52.8 million as of July 31, 2025, up from $2.7 million in 2024[484]. - Cash used in operating activities increased by 143% to $(18.9) million in 2025, compared to $(7.8) million in 2024[486]. - Cash provided by investing activities rose significantly to $44.0 million in 2025, compared to cash used of $(10.8) million in 2024[488]. - Financing activities generated $24.8 million in 2025, a substantial increase from $(0.2) million in 2024[490]. - Total assets grew by 18% to $114.1 million in 2025, up from $96.8 million in 2024[484]. Investments and Subsidiaries - Rafael Holdings holds a 67% interest in Cornerstone Pharmaceuticals following a restructuring, which has become a consolidated subsidiary[460]. - The company invested approximately $582,000 in Rafael Medical Devices in February 2025, maintaining a 73% equity interest[461]. - The merger with Cyclo was completed on March 25, 2025, allowing for the consolidation of Cyclo's financial results[456]. - Rafael Holdings aims to expand its investment portfolio through strategic investments addressing high unmet medical needs[454]. Revenue Sources - Real Estate segment rental revenue increased by 13% to $197,000 for the year ended July 31, 2025, compared to $174,000 in 2024[473]. - Revenue from tenants located in Israel accounted for 34% of consolidated revenues for the year ended July 31, 2025, down from 44% in 2024, with all revenues in currencies other than the U.S. Dollar[503]. Impairment and Goodwill - The company recorded a goodwill impairment charge of $3.1 million for the Infusion Technology segment, representing a full write-off of the goodwill balance associated with this operating segment[499]. - Unrealized loss on investment in Cyclo was $(5.1) million for the year ended July 31, 2025, compared to a gain of $37,000 in 2024[477]. - The company assesses goodwill for impairment annually or more frequently if triggering events occur, using both qualitative and quantitative assessments[498]. Regulatory and Clinical Developments - The FDA granted substantial equivalence determination for the VECTR System, a product of Rafael Medical Devices, for use in minimally invasive surgeries[461]. - Clinical trial accruals are estimated based on the progress of specific tasks and unbilled patient visits related to third-party vendor services[501]. - The company does not have any off-balance sheet arrangements that could materially affect its financial condition or results of operations[502].

Financial Performance - For the fourth quarter ended July 31, 2025, Rafael Holdings reported a net loss of $12.1 million, or $0.28 per share, compared to a net loss of $4.5 million, or $0.19 per share in the same period last year, reflecting an increase in net loss due to the consolidation of Cyclo Therapeutics' expenses[4] - For the full fiscal year 2025, Rafael Holdings recorded a net loss of $30.5 million, or $1.04 per share, an improvement from a net loss of $34.4 million, or $1.45 per share in the previous year[7] - The operating loss for the three months ended July 31, 2025, was $(12,763,000), compared to $(3,845,000) in the same period of 2024, reflecting a deterioration of 231.5%[19] - Consolidated net loss attributable to Rafael Holdings, Inc. was $(12,094,000) for the three months ended July 31, 2025, compared to $(4,468,000) in Q3 2024, an increase of 170.5%[19] - The loss before income taxes for the year ended July 31, 2025, was $(33,196,000), compared to $(67,261,000) in 2024, showing an improvement of 50.7%[19] Expenses - Research and development expenses for the fourth quarter were $7.5 million, up from $1.5 million in the prior year, primarily due to the inclusion of Cyclo's spending following its acquisition[5] - General and administrative expenses increased to $5.5 million for the fourth quarter, compared to $2.3 million in the same period last year, attributed to expenses from Cyclo and the consolidation of Cornerstone and Day Three[6] - Full year research and development expenses totaled $12.8 million, compared to $4.2 million in the prior year, reflecting increased spending at Cyclo following its acquisition[8] - General and administrative expenses for the full year were $13.8 million, up from $8.9 million in the previous year, driven by the acquisition-related expenses[9] - General and Administrative (G&A) expenses rose significantly to $5,497,000 in Q3 2025 from $2,330,000 in Q3 2024, an increase of 136.7%[19] - Research and Development (R&D) expenses surged to $7,547,000 in Q3 2025 compared to $1,543,000 in Q3 2024, marking a substantial increase of 388.5%[19] Revenue - Revenues for the three months ended July 31, 2025, increased to $350,000 from $165,000 in the same period of 2024, representing a growth of 112.1%[19] - Total revenues for the year ended July 31, 2025, were $917,000, up from $637,000 in 2024, representing a year-over-year increase of 43.9%[19] Cash Position - As of July 31, 2025, Rafael Holdings had cash and cash equivalents of $52.8 million, bolstered by a $25 million rights offering completed in June 2025[3] Strategic Initiatives - The company is advancing its pivotal Phase 3 TransportNPC™ study for Trappsol Cyclo™, aimed at treating Niemann-Pick Disease Type C1, which is a rare genetic disorder[2] - The acquisition of Cyclo Therapeutics in March 2025 has led to the consolidation of its expenses and activities, impacting the financial results significantly[4] - The company is positioned to explore additional opportunities following the enhancement of its financial position through the rights offering[2] Share Information - Basic and diluted loss per share increased to $(0.28) in Q3 2025 from $(0.19) in Q3 2024, indicating a decline of 47.4%[19] - The weighted average number of shares used in the calculation of loss per share increased to 43,011,360 in Q3 2025 from 23,916,839 in Q3 2024, an increase of 79.8%[19] Interest Income - The company reported a significant increase in interest income, reaching $1,996,000 for the year ended July 31, 2025, compared to $2,383,000 in 2024, a decrease of 16.1%[19]

Core Insights - The pivotal Phase 3 clinical trial for Trappsol Cyclo™ is ongoing, with positive recommendations from the Data Monitoring Committee [1][2] - The company successfully closed a $25 million rights offering, enhancing its financial position to support the Trappsol Cyclo™ program and other opportunities [2] - Rafael Holdings reported a net loss of $12.1 million for Q4 FY 2025, an increase from a net loss of $4.5 million in the same period last year, primarily due to the consolidation of Cyclo Therapeutics' expenses [4][5] Financial Performance - As of July 31, 2025, the company had cash and cash equivalents of $52.8 million, following the $25 million rights offering closed in June 2025 [3] - For the three months ended July 31, 2025, research and development expenses rose to $7.5 million from $1.5 million year-over-year, reflecting increased spending at Cyclo Therapeutics [5] - General and administrative expenses for the same period were $5.5 million, up from $2.3 million in the prior year, also due to the inclusion of Cyclo's expenses [6] Yearly Overview - For the full fiscal year 2025, Rafael Holdings recorded a net loss of $30.5 million, an improvement from a net loss of $34.4 million in the previous year [7] - Research and development expenses for the full year were $12.8 million, compared to $4.2 million in the prior year, driven by the acquisition of Cyclo Therapeutics [8] - General and administrative expenses for the full year increased to $13.8 million from $8.9 million, attributed to the consolidation of Cyclo and other entities [9][10] Company Background - Rafael Holdings, Inc. is a biotechnology company focused on developing pharmaceuticals, with its lead candidate Trappsol® Cyclo™ aimed at treating Niemann-Pick Disease Type C1 [11]

Core Points - Rafael Holdings, Inc. announced the passing of Lead Independent Director Stephen Greenberg and appointed Alan Grayson to the Board of Directors [1][3] - Markus Sieger, an existing Board member, has been elected as Lead Independent Director and will chair the Audit Committee [1][4] Company Overview - Rafael Holdings, Inc. is a biotechnology company focused on developing pharmaceuticals and holding interests in clinical and early-stage companies [5] - The company's lead candidate, Trappsol® Cyclo™, is currently undergoing a pivotal Phase 3 clinical trial for the treatment of Niemann-Pick Disease Type C1 [5]

Core Viewpoint - Terra Clean Energy Corp has entered into definitive agreements to acquire up to a 100% interest in the Wheel Anne Claims and the Green Vein Mesa Claims located in Emery County, Utah, demonstrating the company's commitment to expanding its portfolio of uranium assets [1][2]. Acquisition Details - The agreements require cash payments, share issuances, and exploration expenditures to earn interests in the claims [2]. - For the Wheal Anne Claims, to earn a 20% interest, the company must pay USD$20,000 and issue 500,000 common shares, along with incurring USD$100,000 in exploration expenditures within the first year [3]. - The structure for earning interests in the Wheal Anne Claims includes additional payments and share issuances over a five-year period, culminating in a total cash payment of USD$233,333 and issuance of 2,500,000 common shares for a 100% interest [3]. - The Green Vein Mesa Claims require a similar structure, starting with a USD$10,000 cash payment and 250,000 common shares for a 20% interest, with total payments and share issuances reaching USD$116,667 and 1,250,000 common shares for a 100% interest over four years [4][5]. Regulatory and Compliance - The definitive agreements are subject to regulatory approvals, including from the Canadian Securities Exchange, with the "Effective Date" being the date all approvals are received [6]. - All securities issued in connection with these agreements will be subject to a four-month plus one day hold period from the date of issuance [7]. Marketing Agreements - Terra Clean has engaged Green Crescent Capital for marketing services, with a one-time fee of USD$5,000 for a one-month term [8]. - The company has also contracted OTCWagon for a 38-day market awareness program, with a fee of C$7,500 [9]. Company Overview - Terra Clean Energy is a Canadian-based uranium exploration and development company, currently developing the South Falcon East uranium project in Saskatchewan and past producing uranium mines in Emery County, Utah [10].

Core Viewpoint - Terra Clean Energy Corp has entered into definitive agreements to acquire up to a 100% interest in the Wheel Anne Claims and the Green Vein Mesa Claims located in Emery County, Utah, demonstrating the company's commitment to expanding its portfolio of low-risk uranium assets [1][2]. Acquisition Details - For the Wheal Anne Claims, the company will make cash payments totaling USD$233,333, issue 2,500,000 common shares, and incur exploration expenditures of USD$300,000 over five years to earn a 100% interest [3]. - For the Green Vein Mesa Claims, the company will make cash payments totaling USD$116,667, issue 1,250,000 common shares, and incur exploration expenditures of USD$66,667 over five years to earn a 100% interest [4][5]. - Both claims are subject to a 2% net royalty retained by the vendors, with options for Terra Clean to purchase 50% of the royalties for USD$666,666 and USD$333,334 respectively [3][5]. Regulatory and Compliance - The agreements are subject to regulatory approvals, including the approval of the Canadian Securities Exchange, with the "Effective Date" being the date all such approvals are received [6]. - All securities issued in connection with these agreements will be subject to a four-month plus one day hold period from the date of issuance [7]. Marketing Initiatives - Terra Clean has engaged Green Crescent Capital for marketing services, with a one-time fee of USD$5,000 for a one-month term to enhance investment community awareness [8]. - The company has also contracted OTCWagon for a 38-day market awareness program, with a fee of C$7,500, to comply with CSE policies [9]. Company Overview - Terra Clean Energy is a Canadian-based uranium exploration and development company, currently developing the South Falcon East uranium project in Saskatchewan and past producing uranium mines in Emery County, Utah [10].

Core Viewpoint - Rafael Holdings, Inc. announced promising preliminary data from the Phase 3 TransportNPC™ study evaluating Trappsol® Cyclo™ for Niemann-Pick Disease Type C1 (NPC1), presented at the 15th International Congress of Inborn Errors of Metabolism (ICIEM) [1][2]. Group 1: Study Overview - The ongoing TransportNPC™ study is a randomized, double-blind, placebo-controlled trial designed to evaluate the safety, tolerability, and efficacy of Trappsol® Cyclo™ at a dose of 2,000 mg/kg administered intravenously [2]. - The study has a total duration of 96 weeks, with a comparative interim analysis conducted at 48 weeks [2][11]. - Enrollment for the study was completed in May 2024, with 94 patients recruited across over 25 sites in 13 countries [11]. Group 2: Sub-Study Results - In the sub-study involving patients under the age of 3, 7 out of 9 patients showed stabilization or improvement in their Clinical Global Impression – Severity (CGI-S) score after 48 weeks [1][7]. - The adverse event profile was consistent with previous studies, with 146 adverse events reported, the majority being mild (69%) or moderate (29%) [7]. Group 3: Clinical Significance and Future Directions - Dr. Orna Staretz-Chacham highlighted the potential of Trappsol® Cyclo™ to address significant unmet medical needs in NPC1 treatment, with encouraging clinical improvements observed [6]. - The full clinical significance of the preliminary data will be evaluated based on the complete results of the ongoing sub-study [5]. Group 4: Drug Information - Trappsol® Cyclo™ is an investigational drug designed to mobilize lysosomal cholesterol, directly targeting the root cause of NPC1 [10]. - The drug has received Orphan Drug Designation in both the U.S. and EU, along with Fast Track and Rare Pediatric Disease Designations in the U.S. [9].

Core Viewpoint - Rafael Holdings, Inc. announced that its subsidiary Cyclo Therapeutics will present two abstracts on Trappsol Cyclo™ for Niemann-Pick Disease Type C1 at the upcoming ICIEM conference in Kyoto, Japan [1] Group 1: Presentation Details - The first presentation will be an oral session titled "Hydroxypropyl-beta-cyclodextrin for the Long-Term Treatment of Niemann Pick Type C1: Efficacy and Safety Data from 4 Clinical Studies and the Ongoing Expanded Access Program" by Dr. Caroline Hastings on September 3, 2025 [1] - The second presentation will be a poster session titled "Trappsol Cyclo Open Label Treatment in the TransportNPC Sub-Study in Patients Under the Age of 3 Diagnosed with Niemann Pick Disease Type C1" by Dr. Orna Staretz Chacham on the same day [1] Group 2: About Trappsol Cyclo™ - Trappsol Cyclo™ is a first-in-class proprietary cyclodextrin formulation administered intravenously that mobilizes lysosomal cholesterol, targeting the root cause of Niemann-Pick Disease Type C1 [2] - It has been shown to cross the blood-brain barrier, suggesting therapeutic concentrations in the central nervous system [2] Group 3: Study Program - The Phase 3 TransportNPC study is a randomized, double-blind, placebo-controlled trial evaluating the safety and efficacy of Trappsol Cyclo™ in patients aged 3 years and older, with a total enrollment of 94 patients across 25 sites in 13 countries [3] - The study duration is 96 weeks, with an interim analysis recommending continuation after 48 weeks [3] Group 4: Disease Overview - Niemann-Pick Disease Type C1 is a rare genetic disorder affecting approximately 1 in 100,000 live births, characterized by cholesterol accumulation leading to organ damage and life-limiting symptoms [8] - About 95% of individuals with NPC have mutations in the NPC1 gene, while 5% have mutations in the NPC2 gene [8] Group 5: Company Overview - Rafael Holdings, Inc. is a biotechnology company with a focus on developing treatments for rare and neurodegenerative diseases, including a 100% interest in Cyclo Therapeutics [9] - Cyclo Therapeutics is dedicated to developing Trappsol Cyclo™ for Niemann-Pick Disease Type C1 and is conducting multiple clinical trials for this indication [10]

Company Overview - Texas Instruments Incorporated (TI) is a global semiconductor company that designs, manufactures, and sells analog and embedded processing chips for various markets including industrial, automotive, personal electronics, enterprise systems, and communications equipment [3]. Upcoming Event - Rafael Lizardi, Senior Vice President and Chief Financial Officer of TI, will speak at the Citi 2025 Global TMT Conference in New York City on September 4, 2025, at 8:10 a.m. Eastern time [1]. - The conference will include a Q&A session where Lizardi will address questions from analysts and investors, discussing TI's business outlook and strategies for key markets [1]. Business Strategy - TI aims to address key markets for its analog and embedded processing technologies, positioning the company for growth through innovation and affordability in semiconductor technology [1].