Company Overview - Rafael Holdings, Inc. (NYSE:RFL) focuses on the development and commercialization of novel cancer therapies through its subsidiaries, emphasizing oncology drug research and development [1] Financial Performance - RFL's Return on Invested Capital (ROIC) is -34.90%, significantly lower than its Weighted Average Cost of Capital (WACC) of 7.93%, resulting in a ROIC to WACC ratio of -4.40, indicating the company is not generating returns above its cost of capital [2] - Compared to its peers, RFL demonstrates relatively more efficient capital utilization despite the negative ROIC [2] Peer Comparison - Scholar Rock Holding Corporation (SRRK) has a ROIC of -101.98% and a WACC of 6.82%, leading to a ROIC to WACC ratio of -14.96, indicating less efficient capital utilization compared to RFL [3] - Evelo Biosciences, Inc. (EVLO) shows a ROIC of -199.73% and a WACC of 9.04%, resulting in a ROIC to WACC ratio of -22.10, further highlighting its inefficiency [3] - Verrica Pharmaceuticals Inc. (VRCA) is the most efficient among peers with a ROIC to WACC ratio of -4.13, indicating better capital efficiency despite all companies having negative ratios [4] - Replimune Group, Inc. (REPL) has a ROIC of -71.09% and a WACC of 7.47%, resulting in a ROIC to WACC ratio of -9.52, showing less favorable performance [4]

Core Insights - Mt. San Rafael Hospital and Clinics (MSRHC) has selected Oracle Health to enhance its electronic health record (EHR) platform and improve clinical and financial performance [1][2] - The integration of Oracle Health Clinical AI Agent aims to reduce administrative burdens, allowing healthcare providers to focus more on patient care [2][3] - MSRHC's collaboration with Oracle Health is seen as a strategic investment in the future of rural healthcare, enhancing efficiency and patient experience [3][5] Company Overview - MSRHC is a 25-bed critical access hospital located in Trinidad, Colorado, recognized as one of the Top 20 critical access hospitals in the nation [6][7] - The hospital has achieved HIMSS Stage 6 designation, reflecting its commitment to clinical quality, digital maturity, and patient safety [7] - MSRHC is dedicated to expanding access to high-quality healthcare services in southern Colorado and is a leader in rural healthcare innovation [8] Technology Implementation - MSRHC will implement Oracle Health Foundation EHR along with Oracle Health Clinical AI Agent, which automates clinical documentation through voice-driven technology [2][4] - The Oracle Health Seamless Exchange will enable MSRHC to securely aggregate patient data from various sources, enhancing clinical decision-making [4][5] - The AI integration allows physicians to engage in natural conversations with patients while the system automatically drafts clinical notes, reducing manual data entry [3][4] Strategic Goals - The partnership with Oracle Health is aimed at optimizing clinical and financial outcomes for rural healthcare providers [5] - MSRHC's investment in modern technology and facilities is part of its commitment to delivering exceptional care and improving operational sustainability [8]

Revenue Performance - Rafael Holdings reported a 100% increase in product revenue for the Healthcare segment, reaching approximately $0.2 million for the three months ended October 31, 2025, compared to $0 for the same period in 2024[268]. - The Infusion Technology segment reported a 100% decrease in revenue, falling to $0 for the three months ended October 31, 2025, compared to $51,000 in the same period in 2024[271]. - The Real Estate segment generated rental income of $56,000 from third parties, reflecting a 12% increase compared to $50,000 in the prior year[273]. - Revenue from tenants located in Israel represented 36% of consolidated revenues for the three months ended October 31, 2025, down from 60% in 2024[293]. Expenses - Research and development expenses surged by 545% to $7.5 million for the Healthcare segment in the three months ended October 31, 2025, primarily due to the consolidation of Cyclo's expenses[267]. - General and administrative expenses for the Healthcare segment increased by 20% to $2.8 million, largely due to the inclusion of Cyclo's expenses[269]. - General and administrative expenses in the Real Estate segment decreased by 53% to $57,000, primarily due to reduced real estate taxes[273]. - Consolidated net loss for the three months ended October 31, 2025, was $9.8 million, a 6% increase from the net loss of $9.2 million in the same period of 2024[274]. - Loss from operations increased by 164% to $10.1 million for the three months ended October 31, 2025, compared to a loss of $3.8 million in 2024[274]. - Interest income decreased by 30% to $0.4 million for the three months ended October 31, 2025, compared to $0.6 million in 2024[274]. Cash Flow and Working Capital - Cash and cash equivalents decreased by 14% to $45.5 million as of October 31, 2025, down from $52.8 million on July 31, 2025[282]. - Working capital decreased by 20% to $36.2 million as of October 31, 2025, compared to $45.1 million on July 31, 2025[282]. - Cash used in operating activities was $6.8 million for the three months ended October 31, 2025, a 124% increase from $3.0 million used in the same period of 2024[284]. - Cash flows from investing activities for the three months ended October 31, 2025, included a purchase of preferred shares for $0.5 million[286]. Assets and Holdings - Total assets decreased by 8% to $105.4 million as of October 31, 2025, from $114.1 million on July 31, 2025[282]. - Rafael Holdings holds a 95% interest in LipoMedix and a 67% interest in Cornerstone, with ongoing evaluations of these holdings to focus resources on core assets[260][262]. Strategic Developments - The FDA granted substantial equivalence determination for the VECTR System, which is designed for minimally invasive surgeries, marking a significant milestone for Rafael Medical Devices[263]. - The merger with Cyclo was completed on March 25, 2025, making Cyclo a wholly-owned subsidiary and enhancing the company's product pipeline[259]. - The company is strategically focusing on the development of Trappsol® Cyclo™ for Niemann-Pick Disease Type C1, with ongoing Phase 3 clinical trials[257].

Financial Performance - Rafael Holdings reported a net loss of $9.8 million, or $0.19 per share, for the first quarter of fiscal 2026, compared to a net loss of $9.0 million, or $0.37 per share, in the same period last year[5]. - Total revenues for the quarter were $240,000, up from $128,000 in the same quarter of the previous year[15]. - Operating loss for the quarter was $10.1 million, compared to an operating loss of $3.8 million in the prior year[15]. - General and administrative expenses rose to $2.8 million for the quarter, compared to $2.5 million in the same period last year[7]. Research and Development - Research and development expenses increased to $7.5 million for the three months ended October 31, 2025, from $1.3 million in the prior year, primarily due to the consolidation of Cyclo Therapeutics' expenses following its acquisition[6]. - The company is progressing in its pivotal Phase 3 TransportNPC™ study for Trappsol Cyclo™, which is aimed at treating Niemann-Pick Disease Type C1[3]. Cash and Assets - Cash and cash equivalents as of October 31, 2025, were $45.5 million, down from $52.8 million as of July 31, 2025[4]. - Total current assets decreased to $48.3 million as of October 31, 2025, from $56.7 million as of July 31, 2025[12]. - The accumulated deficit increased to $242.1 million as of October 31, 2025, from $232.3 million as of July 31, 2025[12]. - Total equity attributable to Rafael Holdings decreased to $85.2 million as of October 31, 2025, from $94.4 million as of July 31, 2025[12].

NEWARK, N.J., Dec. 11, 2025 (GLOBE NEWSWIRE) -- Rafael Holdings, Inc. (NYSE: RFL) today reported its financial results for the first quarter fiscal year 2026 ended October 31, 2025. “We remain pleased with the progress of our pivotal Phase 3 TransportNPC™ study evaluating Trappsol® Cyclo™ for the treatment of Niemann-Pick Disease Type C1, which the Data Monitoring Committee (DMC) recommended continuing after their review of prespecified safety and efficacy data at 48 weeks. We believe that Trappsol® Cyclo™ ...

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]