Core Insights - The pivotal Phase 3 clinical trial for Trappsol Cyclo™ is ongoing, with positive recommendations from the Data Monitoring Committee [1][2] - The company successfully closed a $25 million rights offering, enhancing its financial position to support the Trappsol Cyclo™ program and other opportunities [2] - Rafael Holdings reported a net loss of $12.1 million for Q4 FY 2025, an increase from a net loss of $4.5 million in the same period last year, primarily due to the consolidation of Cyclo Therapeutics' expenses [4][5] Financial Performance - As of July 31, 2025, the company had cash and cash equivalents of $52.8 million, following the $25 million rights offering closed in June 2025 [3] - For the three months ended July 31, 2025, research and development expenses rose to $7.5 million from $1.5 million year-over-year, reflecting increased spending at Cyclo Therapeutics [5] - General and administrative expenses for the same period were $5.5 million, up from $2.3 million in the prior year, also due to the inclusion of Cyclo's expenses [6] Yearly Overview - For the full fiscal year 2025, Rafael Holdings recorded a net loss of $30.5 million, an improvement from a net loss of $34.4 million in the previous year [7] - Research and development expenses for the full year were $12.8 million, compared to $4.2 million in the prior year, driven by the acquisition of Cyclo Therapeutics [8] - General and administrative expenses for the full year increased to $13.8 million from $8.9 million, attributed to the consolidation of Cyclo and other entities [9][10] Company Background - Rafael Holdings, Inc. is a biotechnology company focused on developing pharmaceuticals, with its lead candidate Trappsol® Cyclo™ aimed at treating Niemann-Pick Disease Type C1 [11]

Core Insights - Cyclo Therapeutics' TransportNPC™ Phase 3 clinical trial for Trappsol Cyclo™ targeting Niemann-Pick Disease Type C1 is fully enrolled, with interim analysis results expected in mid-2025 [1] - Rafael Holdings has successfully merged with Cyclo Therapeutics, positioning itself as a late-stage clinical development company focused on bringing new treatments to market [2][4] - Bill Conkling will transition from CEO to an advisory role, with Howard Jonas taking over as CEO, ensuring continuity in leadership during the critical phase of the clinical trial [3][4] Company Overview - Rafael Holdings, Inc. is involved in clinical and early-stage pharmaceutical ventures, including its subsidiary Cyclo Therapeutics, which is developing Trappsol Cyclo™ for Niemann-Pick Disease Type C1 [5] - The company also holds majority interests in several other pharmaceutical and medical device companies, indicating a diversified portfolio in the healthcare sector [5]