Can-Fite BioPharma Ltd. - CANF STOCK NEWS

Can-Fite BioPharma Ltd (NYSE American: CANF) will present at Benzinga’s Global SmallCap Conference on May 13, 2021. CEO Dr. Pnina Fishman will discuss the company’s advancements in treating psoriasis, liver cancer, and NASH. Can-Fite's drug candidates are in Phase II and Phase III trials, showcasing clinical proof of concept. The company’s lead drug, Piclidenoson, targets moderate COVID-19, while Namodenoson is set for Phase III for hepatocellular carcinoma and has received Orphan Drug and Fast Track Designation from the FDA.

Can-Fite BioPharma Ltd (NYSE American: CANF) reported that 75% of patients have been enrolled in its Phase III Comfort™ study for Piclidenoson, targeting moderate to severe plaque psoriasis. The study aims to establish the drug's superiority over placebo and non-inferiority to Apremilast, with enrollment expected to finalize in Q3 2021 and topline results anticipated in Q4 2021. The company has received over $20 million from distribution agreements for Piclidenoson, which is out-licensed in several countries. The psoriasis therapeutic market is projected to hit $11.3 billion by 2025.

Can-Fite BioPharma Ltd (NYSE American: CANF) expands its Phase II COVID-19 study of Piclidenoson to Romania and Bulgaria. The randomized, double-blind study evaluates Piclidenoson with standard care versus placebo in hospitalized patients. The treatment duration is up to 28 days, with assessments at Day 29 focusing on respiratory status and safety. Piclidenoson shows promise due to its anti-inflammatory effects and potential to combat COVID-19's severity. The CEO emphasizes the drug's safety and efficacy as recruitment accelerates in Europe.

Can-Fite BioPharma (NYSE American: CANF) announced the initiation of preclinical studies for its drug candidates Piclidenoson and Namodenoson, in preparation for future NDA and MAA submissions to the FDA and EMA. Piclidenoson is currently in the COMFORT Phase III study for psoriasis, while Namodenoson, which has Orphan Drug and Fast Track Status, will begin a Phase III study for hepatocellular cancer by Q4 2021. The company aims to obtain marketing approvals for both drugs, addressing significant market needs.

Can-Fite BioPharma Ltd (NYSE American: CANF) announced successful pre-clinical studies showing that a CBD-rich T3/C15 cannabis fraction inhibits liver cancer cell growth. This mechanism targets the A3 adenosine receptor (A3AR), crucial in liver cancer treatment. The company’s drug candidate Namodenoson is set to enter a Phase III study for advanced liver cancer in Q4 2021. The global medical cannabis market is projected to grow to $56.7 billion by 2026, highlighting significant market opportunities for Can-Fite’s cannabinoid-based therapies.

Can-Fite BioPharma Ltd. (NYSE American: CANF) has announced that its six distribution agreements for drug candidates Piclidenoson and Namodenoson could yield up to $130 million in milestone payments, alongside double-digit royalties on net sales. The company has already secured over $20 million in non-dilutive upfront and milestone payments. Territories covered include Canada, Spain, Switzerland, and more, with further discussions targeting larger markets like the U.S. and Japan. CEO Dr. Pnina Fishman emphasized the strategic growth potential in untapped markets.

Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE: CFBI) reported a net loss of $14.44 million for the year ended December 31, 2020, an increase from $12.62 million in 2019. Revenues decreased to $0.76 million, down 63% from $2.03 million. Their cash position improved to $8.26 million from $2.69 million due to $17.68 million in financing activities. Can-Fite announced a $42.7 million out-licensing deal with Ewopharma and is progressing with clinical trials for drugs targeting COVID-19, psoriasis, and liver cancer.

Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE: CFBI) announced an upcoming interview with CEO Dr. Pnina Fishman on The RedChip Money Report®, airing on March 20th at 7 p.m. ET. In the interview, Dr. Fishman will discuss significant milestones and the company’s proprietary drug pipeline targeting inflammatory, cancer, and liver diseases. Notably, Can-Fite's lead candidates include Piclidenoson and Namodenoson, both in advanced clinical studies. This interview aims to reach a large audience, potentially impacting investor interest.

Can-Fite BioPharma Ltd (NYSE American: CANF, TASE: CFBI) announced positive results from a preclinical study on its drug candidate CF602 for treating erectile dysfunction (ED) in diabetic rats. The study showed that CF602, particularly at a 500 nM dose, led to significant improvements in ED compared to placebo groups (p<0.001). The market for ED therapies is projected to reach $3.2 billion by 2022, and the company sees CF602 as a valuable candidate due to its safety profile as a topical treatment. Can-Fite also has other drugs in development targeting common and severe conditions.