Rafael(RFL) - 2026 Q2 - Quarterly Results

Financial Performance - Rafael Holdings reported a net loss of $6.4 million, or $0.13 per share, for the three months ended January 31, 2026, compared to a net loss of $4.6 million, or $0.19 per share, in the same period last year [6]. - For the six months ended January 31, 2026, the net loss attributable to Rafael Holdings was $16.2 million, or $0.32 per share, compared to a net loss of $13.6 million, or $0.57 per share, in the prior year [9]. - The company reported a loss from operations of $6.7 million for the three months ended January 31, 2026, compared to a loss of $6.6 million in the same period last year [18]. Revenue and Expenses - Total revenue for the three months ended January 31, 2026, was $211,000, up from $77,000 in the same period last year, driven by product revenue of $125,000 [18]. - Research and development expenses increased to $4.5 million for the three months ended January 31, 2026, from $0.9 million in the prior year, primarily due to the consolidation of Cyclo Therapeutic's expenses following its acquisition [7]. - General and administrative expenses decreased to $2.3 million for the three months ended January 31, 2026, from $2.6 million in the prior year [8]. Cash and Assets - Cash and cash equivalents as of January 31, 2026, were $37.8 million, down from $52.8 million as of July 31, 2025 [5]. - The total assets of Rafael Holdings as of January 31, 2026, were $99.3 million, down from $114.1 million as of July 31, 2025 [16]. Clinical Trials and Pipeline - The company is on track to complete a 96-week Phase 3 clinical trial for Trappsol Cyclo™ and expects to report preliminary top-line results in the third quarter of 2026 [4]. - Rafael Holdings continues to evaluate the potential of its pipeline, including ongoing clinical trials for its lead candidate, Trappsol Cyclo™ [13].