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PainReform Provides Business Update for the Six Months Ended June 30, 2025
Globenewswire· 2025-10-01 13:27
Core Insights - PainReform Ltd. has made significant advancements in both specialty pharmaceuticals and renewable energy technologies during the first half of 2025, focusing on non-opioid solutions for pain management and AI-driven solar analytics [3][12] Pharmaceutical Programs - The company acquired a majority interest in LayerBio, enhancing its pipeline with the OcuRing™-K platform, a novel therapy targeting a global market of approximately $9 billion for post-surgical pain management [6][7] - Continued development of PRF-110 is underway, which showed significant efficacy in the early postoperative period despite not meeting primary endpoints in a Phase 3 trial [7] DeepSolar Division - The DeepSolar division has shown strong momentum, highlighted by the completion of the MyDeepSolar consumer app and acceptance into NVIDIA's Connect Program, which will aid in developing the DeepSolar Predict forecasting solution [3][14] - A successful 92MW pilot project with Econergy in Romania has transitioned into the company's first commercial customer agreement, marking a significant step in commercial deployment [3][14] Financial Performance - The company reduced its net loss to approximately $2.3 million for the six months ended June 30, 2025, down from $12.8 million in the same period the previous year [11] - Research and development expenses significantly decreased to approximately $0.3 million compared to $11.4 million in the prior year, primarily due to the completion of the Phase 3 clinical trial for PRF-110 [9] - As of June 30, 2025, PainReform maintained cash and cash equivalents of approximately $3.5 million and positive working capital of approximately $1.5 million [11]
PainReform Expands into Home Energy Management Sector, Leveraging DeepSolar's AI-Driven Platform to Address the Growing Solar Optimization Market
GlobeNewswire News Room· 2025-04-10 12:30
Company Overview - PainReform Ltd. is a clinical-stage specialty pharmaceutical company that has expanded into the Smart Energy Management (SEM) sector following the acquisition of DeepSolar, which provides AI-driven software solutions for optimizing solar energy usage [1][2][7] - The company aims to leverage its AI expertise to address new verticals, focusing on data-centric platforms that drive recurring revenue and operational scalability [6] Strategic Expansion - The expansion into the SEM sector is part of PainReform's long-term diversification strategy to tap into high-growth, tech-enabled markets [2][5] - This move aligns with global energy trends, particularly the increasing demand for decentralized and sustainable energy solutions, as well as the growing global solar capacity [2][5] DeepSolar Product Offering - DeepSolar's MyDeepSolar application utilizes machine learning and predictive analytics for real-time monitoring, yield forecasting, and performance optimization of solar systems [3][4] - The application provides homeowners with insights into their solar system's performance, maximizing returns on solar investments and optimizing energy efficiency [4] Market Context - The entry into the SEM market occurs amid significant M&A activity and institutional investments in solar and smart energy technologies, with governments increasing support for residential optimization through various incentives [5] - The optimization software is seen as a foundational tool in the transition to sustainable energy, providing both economic and environmental value [2]
PainReform Expands into Home Energy Management Sector, Leveraging DeepSolar's AI-Driven Platform to Address the Growing Solar Optimization Market
Newsfilter· 2025-04-10 12:30
Core Insights - PainReform Ltd. is expanding into the Smart Energy Management (SEM) sector following the acquisition of DeepSolar, which specializes in AI-driven software for optimizing solar energy usage [1][2][5] - This strategic move is part of PainReform's long-term diversification strategy aimed at entering high-growth, tech-enabled markets, particularly in response to the increasing global demand for decentralized and sustainable energy solutions [2][6] Company Overview - PainReform is a clinical-stage specialty pharmaceutical company that focuses on reformulating established therapeutics and developing AI-driven energy optimization technologies through its DeepSolar platform [7] - The company aims to leverage its expertise in AI to create data-centric platforms that drive recurring revenue and operational scalability in the SEM sector [6][7] Product Details - DeepSolar's MyDeepSolar application utilizes machine learning and predictive analytics for real-time monitoring, yield forecasting, and performance optimization of solar energy systems [3][4] - The application provides homeowners with insights into their solar system's performance, maximizing returns on solar investments and enhancing energy efficiency [4] Market Context - The expansion into SEM aligns with global energy trends and capitalizes on a technology platform with significant commercial scalability [5] - There is a growing trend of mergers and acquisitions in the solar and smart energy technology sectors, supported by government incentives for residential optimization [5]