Financial Performance - The Company reported a loss from operations of $92.8 million for the three months ended April 30, 2024, compared to a loss of $3.0 million for the same period in 2023, representing an increase of 2,943%[336] - Loss from operations for the nine months ended April 30, 2024, was $98.8 million, a significant increase of $86.4 million compared to the same period in 2023[350] - The Company has not generated any revenues from its Healthcare segment to date, with all expenses related to its investment companies[336] Research and Development - Research and development expenses for the three months ended April 30, 2024, were $1.2 million, a 64% increase from $740,000 in the same period in 2023[336] - Research and development expenses increased by $314 thousand for the nine months ended April 30, 2024, also due to the acquisition of Day Three[347] Acquisitions and Investments - The Company acquired 70 million ordinary shares of LipoMedix for approximately $2.1 million, increasing its ownership to 95%[327] - The Company raised $925,000 from third parties for a 31.62% ownership stake in Rafael Medical Devices as of August 2023[333] - The Company invested approximately $133.7 million in available-for-sale securities during the nine months ended April 30, 2024[363] - The total aggregate fair value of the investment in Cyclo Therapeutics Inc. was $15.2 million as of April 30, 2024[371] Revenue and Expenses - The Company recorded an IPR&D expense of $89.9 million for the three months ended April 30, 2024, compared to no such expense in the same period in 2023, marking a 100% increase[342] - Infusion Technology Revenue increased by $262 thousand for the nine months ended April 30, 2024, compared to the same period in 2023, attributed to the acquisition of Day Three[344] - Cost of Infusion Technology revenue rose by $85 thousand during the nine months ended April 30, 2024, due to the acquisition of Day Three, primarily related to supplies and production labor[345] - General and administrative expenses increased by $225 thousand for the nine months ended April 30, 2024, mainly due to the acquisition of Day Three[346] Cash Flow and Liquidity - As of April 30, 2024, the company held cash and cash equivalents of approximately $7.4 million, a decrease of 65% from $21.5 million as of July 31, 2023[360] - Working capital decreased by 18% from $80.8 million to $66.3 million during the same period[360] - Cash used in operating activities decreased by 44%, from $8.8 million for the nine months ended April 30, 2023, to $4.9 million for the same period in 2024[362] - Cash used in investing activities for the nine months ended April 30, 2024, was approximately $8.9 million, significantly lower than $34.4 million in the prior year, representing a 74% decrease[363] - The company does not anticipate paying dividends until achieving sustainable profitability and retaining certain minimum cash reserves[366] - The company expects its cash and available-for-sale securities to be sufficient to meet obligations for at least the next 12 months[361] Other Financial Metrics - Interest income decreased to $1.8 million for the nine months ended April 30, 2024, down from $2.3 million in the same period in 2023, primarily due to changes in market rates[350] - Recovery of receivables from Cornerstone Pharmaceuticals increased by approximately $31.3 million for the nine months ended April 30, 2024[355] - The company recorded a realized gain of approximately $1.5 million on available-for-sale securities for the nine months ended April 30, 2024, compared to $0.2 million in the same period in 2023[352] - The company recognized a loss of approximately $422 thousand from its ownership interest in Day Three for the nine months ended April 30, 2024[357] - The benefit from income taxes included approximately $2.6 million received from the sale of unused net operating loss carryforwards for the nine months ended April 30, 2024[356] Corporate Actions - The Company terminated its merger agreement with Cornerstone on February 2, 2022, following the failure of clinical trials for its lead product candidate[322]

Rafael Holdings Reports Third Quarter Fiscal 2024 Financial Results Strategically focused on generating shareholder value by advancing our portfolio and identifying attractive investment opportunities with substantive upside potential NEWARK, NJ – June 14, 2024 (GLOBE NEWSWIRE) - Rafael Holdings, Inc. (NYSE: RFL), today reported its financial results for the third quarter and the first nine months of fiscal 2024 ended April 30, 2024. "During fiscal 2024, we have continued to develop our existing portfolio w ...

Core Viewpoint - Rafael Holdings continues to develop its portfolio while exploring strategic investment opportunities, with a focus on advancements in biotechnology and cannabis products [1][17]. Financial Performance - For the three months ended April 30, 2024, the company reported a net loss from continuing operations of $32.4 million, or $1.36 per diluted share, compared to a net loss of $1.4 million, or $0.06 per diluted share, in the same period last year [13]. - For the nine months ended April 30, 2024, the net loss from continuing operations was $29.9 million, or $1.26 per diluted share, compared to a net loss of $9.6 million, or $0.42 per diluted share, in the prior year [15]. - Research and development expenses for the three months ended April 30, 2024, were $1.5 million, up from $0.7 million in the previous year, primarily due to new activities at Cornerstone and Day Three Labs [2]. - For the nine months ended April 30, 2024, research and development expenses totaled $2.6 million, down from $5.0 million in the prior year, reflecting the winding down of early-stage programs [4]. Investments and Assets - As of April 30, 2024, the company had cash, cash equivalents, and marketable securities amounting to $72.4 million [1]. - The total assets of Rafael Holdings were reported at $101.6 million as of April 30, 2024, compared to $98.8 million as of July 31, 2023 [8][20]. - The company holds significant investments in Cyclo Therapeutics, with an investment value of $15.2 million as of April 30, 2024, compared to $4.8 million in the previous year [8]. Strategic Developments - Cyclo Therapeutics has completed enrollment in its pivotal Phase 3 study for Trappsol® Cyclo™ aimed at treating Niemann-Pick Disease Type C1, a rare genetic disorder [1]. - Day Three Labs has begun generating revenue by innovating cannabis products with pharmaceutical-grade technology, enhancing product quality and predictability [1][17]. - The company has increased its investment in Day Three Labs, now holding a majority interest of 79% [13][15].

☒ Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended January 31, 2024. or ☐ Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934. Commission File Number: 000-55863 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Address of principal executive offices, zip code) | (212) 658-1450 | | --- | (Registrant's telephone number, including area code) Securities registered pursuant ...

Financial Performance - Rafael Holdings reported a net income from continuing operations of $5.9 million, or $0.25 per fully diluted share for the three months ended January 31, 2024, compared to a net loss of $3.3 million, or $0.13 per share in the same period last year [5]. - The company recorded a net income of $2.1 million, or $0.10 per fully diluted share for the six months ended January 31, 2024, versus a net loss of $8.5 million, or $0.36 per share in the prior year [8]. - The net income attributable to Rafael Holdings, Inc. for the six months ended January 31, 2024, was $2,409,000, compared to a loss of $1,658,000 in the same period last year [17]. - Basic earnings per share from continuing operations for the three months ended January 31, 2024, was $0.26, compared to a loss of $0.13 in Q1 2023 [17]. - Consolidated net income from continuing operations for the three months ended January 31, 2024, was $5,904,000, compared to a loss of $3,252,000 in Q1 2023 [17]. Cash and Assets - Cash, cash equivalents, and marketable securities totaled $71.7 million as of January 31, 2024 [4]. - Total assets increased to $106.149 million as of January 31, 2024, compared to $98.829 million as of July 31, 2023 [15]. Expenses - Research and development expenses decreased to $0.6 million for the three months ended January 31, 2024, down from $2.2 million in the prior year, due to the winding down of early-stage programs [6]. - General and administrative expenses increased to $2.6 million for the three months ended January 31, 2024, compared to $2.1 million in the same period last year, primarily due to higher non-cash stock-based compensation [7]. - General and Administrative (G&A) expenses increased to $2,561,000 for the three months ended January 31, 2024, from $2,085,000 in the prior year, an increase of 22.8% [17]. - Research and Development (R&D) expenses decreased significantly to $612,000 in Q1 2024 from $2,225,000 in Q1 2023, a reduction of 72.5% [17]. - The operating loss for the three months ended January 31, 2024, was $3,143,000, an improvement from a loss of $4,259,000 in the same period last year [17]. Investments and Strategic Focus - The company increased its ownership in Day Three Labs to a majority interest of 79% and began consolidating its financial results in the second quarter of 2024 [5]. - An unrealized gain of $9.7 million on investments in Cyclo Therapeutics contributed to the net income reported during the second quarter [5]. - The company aims to leverage its strong balance sheet for selective strategic investments in companies with potential value generation for stockholders [3]. - Rafael Holdings is focused on expanding its investment portfolio through strategic investments in therapeutics addressing high unmet medical needs [11]. - The company reported a loss on initial investment in Day Three upon acquisition of $1,633,000 for the three months ended January 31, 2024 [17]. Revenue - Revenues for the three months ended January 31, 2024, were $68,000, compared to $70,000 for the same period in 2023, representing a decrease of 2.86% [17]. - Unrealized gains on investments from Cyclo Therapeutics Inc. amounted to $9,718,000 for the three months ended January 31, 2024 [17].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended October 31, 2023. or ☐ Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934. Commission File Number: 000-55863 | | | Name of each exchange on which | | --- | --- | --- | | Title of each class | Trading Symbol | registered | | Class B common stock, par value $0.01 per | RFL ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 for the year ended July 31, 2023. or ☐ Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934. Commission File Number: 000-55863 RAFAEL HOLDINGS, INC. (Exact name of registrant as specified in its charter) | Delaware | 82-2296593 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorp ...

for the quarterly period ended April 30, 2023. or ☐ Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934. Commission File Number: 000-55863 RAFAEL HOLDINGS, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 (Exact name of registrant as specified in its charter) | Delaware | 82-2296593 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Emp ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended January 31, 2023. or ☐ Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934. Commission File Number: 000-55863 RAFAEL HOLDINGS, INC. (Exact name of registrant as specified in its charter) | Delaware | 82-2296593 | | --- | --- | | (State or other jurisdiction of | (I.R.S. E ...

FORM 10-Q ☒ Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended October 31, 2022. or ☐ Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934. Commission File Number: 000-55863 RAFAEL HOLDINGS, INC. (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | Delaware | 82-2296593 | | --- | --- | | (State or other jurisdiction of | (I.R.S. E ...