Rafael Holdings Reports First Quarter Fiscal 2025 Financial Results

Core Viewpoint - Rafael Holdings, Inc. is progressing towards a merger with Cyclo Therapeutics, Inc., focusing on its lead clinical program, Trappsol® Cyclo™, for treating Niemann-Pick Disease Type C1, with pivotal Phase 3 study results expected in mid-2025 [2][7]. Financial Results - As of October 31, 2024, the company reported cash, cash equivalents, and marketable securities totaling $54.3 million [3]. - For the first quarter of fiscal year 2025, Rafael Holdings recorded a net loss of $9.0 million, or $0.37 per share, compared to a net loss of $3.6 million, or $0.15 per share in the same period last year [4][12]. - The increase in losses was primarily due to unrealized losses of $6.0 million on investments in Cyclo and convertible notes receivable from Cyclo, compared to $2.1 million in the previous year [4]. - Research and development expenses rose to $1.3 million from $0.5 million year-over-year, attributed to activities at Cornerstone and Day Three [5]. - General and administrative expenses increased to $2.5 million from $2.0 million, driven by additional expenses from Cornerstone and Day Three, as well as professional fees related to the proposed merger with Cyclo [6]. Company Overview - Rafael Holdings, Inc. is a holding company with interests in clinical and early-stage pharmaceutical companies, including a planned merger with Cyclo Therapeutics, which is developing Trappsol® Cyclo™ for Niemann-Pick Disease Type C1 [7]. - The company also holds majority interests in several other pharmaceutical and medical device companies, focusing on expanding its investment portfolio through strategic investments in therapeutics addressing high unmet medical needs [7].