Can-Fite Announces $3.0 Million Registered Direct Offering of American Depositary Shares

Core Viewpoint - Can-Fite BioPharma Ltd. has announced a registered direct offering of 2,500,000 American Depositary Shares (ADSs) at a price of $1.20 per ADS, aiming to raise approximately $3.0 million for research, development, and general corporate purposes [1][2]. Group 1: Offering Details - The offering is expected to close on or about April 15, 2025, pending customary closing conditions [1]. - H.C. Wainwright & Co. is acting as the exclusive placement agent for this offering [2]. - The gross proceeds from the offering, before deducting fees and expenses, are anticipated to be $3.0 million [2]. Group 2: Company Overview - Can-Fite BioPharma is focused on developing small-molecule drugs for oncological and inflammatory diseases, targeting multi-billion dollar markets [5]. - The lead drug candidate, Piclidenoson, has recently reported topline results in a Phase III trial for psoriasis and is commencing another pivotal Phase III trial [5]. - Namodenoson, another key drug, is being evaluated in multiple trials for hepatocellular carcinoma (HCC) and has received Orphan Drug Designation and Fast Track Designation from the FDA [5]. - The company has a strong safety profile with over 1,600 patients involved in clinical studies to date [5].