Rafael(RFL) - 2025 Q1 - Quarterly Results

Financial Performance - For Q4 FY 2024, the company recorded a net loss from continuing operations of $4.5 million, or $0.19 per diluted share, compared to a net gain of $1.3 million, or $0.06 per diluted share, in the same period last year [3]. - For the full fiscal year 2024, the net loss from continuing operations was $34.4 million, or $1.45 per diluted share, compared to a net loss of $8.4 million, or $0.36 per diluted share, in the prior year [6]. - Consolidated net loss from continuing operations was $(4,854), compared to a profit of $1,256 in July 2023, marking a substantial decline [14]. - The net loss attributable to Rafael Holdings, Inc. was $(4,468), compared to a profit of $1,163 in July 2023, showing a significant downturn [14]. Revenue and Expenses - Revenues for July 2024 reached $165,000, compared to $68,000 in July 2023, representing a significant increase of 142.65% year-over-year [14]. - Research and development expenses for Q4 FY 2024 were $1.5 million, up from $1.3 million in the same period last year, attributed to activities at Cornerstone and Day Three Labs [4]. - General and administrative expenses for Q4 FY 2024 were $2.3 million, an increase from $1.4 million in the prior year, primarily due to additional expenses from Cornerstone and Day Three Labs [5]. - Research and Development (R&D) expenses decreased to $1,543 from $1,266, reflecting a reduction of 21.76% year-over-year [14]. - General and Administrative (G&A) expenses increased to $2,330 from $1,395, reflecting a rise of 67.03% year-over-year [14]. Assets and Equity - As of July 31, 2024, Rafael Holdings reported cash, cash equivalents, and marketable securities totaling $65.9 million [3]. - Total assets as of July 31, 2024, were reported at $96.8 million, a decrease from $98.8 million in the previous year [12]. - Total equity attributable to Rafael Holdings decreased to $82.2 million from $100.3 million year-over-year [13]. Investments and Acquisitions - The company incurred an in-process research and development expense of $89.9 million related to the Cornerstone acquisition during FY 2024 [6]. - Rafael Holdings holds a majority interest of 84% in Day Three Labs following an increased investment during FY 2024 [6]. - The merger with Cyclo Therapeutics is expected to close in the coming months, with pivotal Phase 3 study results for Trappsol Cyclo™ anticipated in mid-2025 [2]. Investment Performance - Interest income for the period was $606, down from $2,383 in the previous year, a decrease of 74.6% [14]. - The company reported a realized gain on available-for-sale securities of $251, compared to no gain in the same period last year [14]. - Unrealized gain on investment in equity securities was $1,191, consistent with the previous year, indicating stable investment performance [14].