Rafael(RFL) - 2025 Q4 - Annual Results

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]