Rafael Holdings Reports Second Quarter Fiscal 2025 Financial Results

Core Viewpoint - The planned merger with Cyclo Therapeutics is expected to close in Q3 2025, pending shareholder approvals, with a strategic focus on Cyclo's lead clinical program, Trappsol Cyclo™ [1][2]. Financial Results - For the three months ended January 31, 2025, the company reported a net loss of $4.6 million, or $0.19 per share, compared to a net income of $6.0 million, or $0.25 per share in the same period last year [4]. - For the six months ended January 31, 2025, the net loss was $13.6 million, or $0.57 per share, compared to a net income of $2.4 million, or $0.10 per share in the prior year [6]. - Cash and cash equivalents as of January 31, 2025, were $48.3 million [3]. Expenses - Research and development expenses for the three months ended January 31, 2025, were $0.9 million, up from $0.6 million in the previous year [5]. - For the six months ended January 31, 2025, research and development expenses totaled $2.3 million, compared to $1.1 million in the same period last year [7]. - General and administrative expenses were $2.6 million for the three months ended January 31, 2025, consistent with the previous year, and $5.1 million for the six months, up from $4.6 million [5][7]. Investment and Merger Details - The company has incurred unrealized losses of $1.1 million on its investment in Cyclo equity and convertible notes receivable from Cyclo, compared to unrealized gains of $9.7 million in the prior year [4]. - The merger with Cyclo Therapeutics is aimed at advancing Trappsol Cyclo™, which is currently in a Phase 3 trial for Niemann-Pick Disease Type C1 [2][8].