Rafael Holdings Reports First Quarter Fiscal 2026 Financial Results

Core Viewpoint - Rafael Holdings, Inc. reported its financial results for the first quarter of fiscal year 2026, highlighting a net loss and increased expenses due to the acquisition of Cyclo Therapeutics, while also emphasizing progress in its clinical trials for Trappsol® Cyclo™ [1][4][5]. Financial Performance - As of October 31, 2025, the company had cash and cash equivalents of $45.5 million [3]. - For the three months ended October 31, 2025, the net loss attributable to Rafael Holdings was $9.8 million, or $0.19 per share, compared to a net loss of $9.0 million, or $0.37 per share in the same period last year [4][13]. - Research and development expenses increased to $7.5 million from $1.3 million year-over-year, primarily due to the inclusion of Cyclo's expenses following its acquisition [5]. - General and administrative expenses rose to $2.8 million from $2.5 million year-over-year, also reflecting Cyclo's expenses [6]. Clinical Development - The company is advancing its pivotal Phase 3 TransportNPC™ study for Trappsol® Cyclo™, which is aimed at treating Niemann-Pick Disease Type C1. The Data Monitoring Committee recommended continuing the study after reviewing safety and efficacy data at 48 weeks [2]. Company Overview - Rafael Holdings, Inc. is a biotechnology company focused on developing pharmaceuticals and holding interests in clinical and early-stage companies. Its lead candidate, Trappsol® Cyclo™, is currently in a pivotal Phase 3 clinical trial for Niemann-Pick Disease Type C1 [7]. Balance Sheet Highlights - Total assets as of October 31, 2025, were $105.4 million, down from $114.1 million as of July 31, 2025 [10][11]. - Total liabilities were reported at $27.0 million, with current liabilities at $12.1 million [10]. - Total equity attributable to Rafael Holdings, Inc. decreased to $85.2 million from $94.4 million [11]. Income Statement Summary - Revenues for the three months ended October 31, 2025, were $240,000, compared to $128,000 in the prior year [12]. - The operating loss for the period was $10.1 million, compared to a loss of $3.8 million in the same period last year [12]. - The net loss attributable to Rafael Holdings, Inc. was $9.8 million, compared to $9.0 million in the previous year [13].