Can-Fite Reports H1 2025 Financial Results and Clinical Update

Core Viewpoint - Can-Fite BioPharma Ltd. reported financial results and clinical updates for the first half of 2025, highlighting advancements in its drug candidates and financial performance. Clinical & Development Milestones - The Phase 2a study of Namodenoson for advanced pancreatic cancer has achieved over 50% enrollment, focusing on safety, clinical activity, and pharmacokinetics [2] - Namodenoson, an A3 adenosine receptor agonist, has shown a favorable safety profile and anti-tumor activity in preclinical models [3] - The drug has received Orphan Drug Designation from the FDA, providing potential market exclusivity for seven years post-approval [4] - Following FDA Compassionate Use Approval, interest from leading U.S. medical centers has increased for treating pancreatic cancer patients with Namodenoson [5] - Piclidenoson has shown promise in treating vascular dementia, with a study from UCLA demonstrating its ability to restore tissue integrity in a mouse model [6][7] - The global market for vascular dementia is estimated at $6 billion in 2025, with a projected CAGR of 5% through 2035 [7] - Piclidenoson has a strong safety profile and has demonstrated anti-inflammatory activity in previous clinical studies [8] Financial Results - Revenues for H1 2025 were $0.20 million, a decrease of $0.11 million or 36.07% compared to $0.31 million in H1 2024, primarily due to lower advance payments from distribution agreements [10] - Research and development expenses increased to $3.03 million, up $0.15 million or 5.16% from $2.88 million in H1 2024, driven by ongoing studies for Namodenoson and Piclidenoson [11] - General and administrative expenses rose to $2.07 million, an increase of $0.54 million or 35.47% compared to $1.52 million in H1 2024, mainly due to investor relationship expenses [12] - Net loss for H1 2025 was $4.87 million, compared to a net loss of $3.95 million in H1 2024, attributed to increased R&D and administrative expenses [14] - As of June 30, 2025, cash and cash equivalents totaled $6.45 million, down from $7.88 million at the end of 2024, with a public offering completed in July 2025 raising $5 million [15] Company Overview - Can-Fite BioPharma Ltd. is focused on developing drugs for cancer, liver, and inflammatory diseases, with lead candidates Piclidenoson and Namodenoson in advanced clinical trials [23]