Welcome to our dedicated page for Can-Fite BioPharma Ltd. news (Ticker: CANF), a resource for investors and traders seeking the latest updates and insights on Can-Fite BioPharma Ltd. stock.
Can-Fite BioPharma Ltd. (CANF) is a clinical-stage biotechnology company whose news flow centers on the development of orally administered small-molecule drugs targeting the A3 adenosine receptor. On this page, readers can follow company announcements on clinical trial progress, regulatory designations, patent developments, financing events, and corporate actions related to its oncology, liver disease, inflammatory, and sexual dysfunction programs.
Recent news has highlighted pivotal and mid-stage clinical studies, including a Phase III trial of Namodenoson in advanced hepatocellular carcinoma, a Phase IIb trial in MASH, and a Phase IIa study in pancreatic cancer. The company has also reported compassionate use cases in advanced liver disease and cirrhosis, as well as long-term survival outcomes in liver cancer patients treated with Namodenoson. For Piclidenoson, updates include Phase III psoriasis development and protocol preparation for rare diseases such as Lowe Syndrome, along with preclinical findings in vascular dementia models.
News items also cover CF602, an A3AR allosteric modulator in development for erectile dysfunction, including patent allowances and grants in markets such as Brazil, the United States, and Europe. Can-Fite regularly reports on its intellectual property strategy, out-licensing and distribution agreements for human and veterinary indications, participation in industry conferences, and capital markets activities such as public offerings, warrant amendments, and share structure changes like reverse splits and ADS ratio adjustments.
Investors and observers can use this CANF news feed to monitor key milestones that may affect the company’s clinical pipeline, regulatory interactions, partnering discussions, and financial position over time.
Can-Fite BioPharma (NYSE American: CANF) has received patent allowance in Australia for its drug Namodenoson for anti-obesity treatment, valid until 2040. The patent covers methods of treating obese patients using oral Namodenoson, which has shown promising results in reducing fat levels by increasing adiponectin hormone. In a Phase IIa study for MASH patients, the drug demonstrated a 2.3% weight loss after 3 months with significant increases in adiponectin levels. The drug is currently in Phase IIb trials for MASH treatment, where most patients are obese. The global obesity treatment market was valued at USD 12 billion in 2023, with Australia alone expecting approximately 1.85 Million MASH patients.
Can-Fite BioPharma (NYSE American: CANF) announced positive final results from a multicenter clinical study on dogs with osteoarthritis treated with Piclidenoson. The study, conducted by Can-Fite's veterinary partner Vetbiolix, met its primary and secondary endpoints, showing significant improvement in clinical status and pain reduction at the 500 µg/kg dose.
Vetbiolix has already exercised its option for a full license deal worth $325 million to Can-Fite over the next 10 years. The canine osteoarthritis market is projected to reach $3 billion by 2028. The study results demonstrate Piclidenoson's potential as a safe and effective treatment for canine osteoarthritis, addressing a clear market need.
Can-Fite BioPharma (NYSE American: CANF) (TASE: CANF) is hosting an exclusive live investor webinar and Q&A session on October 29, 2024, at 4:15 p.m. ET. The event, hosted by RedChip Companies, will feature CEO Motti Farbstein and Executive Chairperson and CSO Dr. Pnina Fishman, who will discuss the company's development pipeline and upcoming milestones.
Can-Fite has multiple out-licensing deals with potential milestone payments exceeding $450 million, having already received $20 million in upfront and milestone payments. The company's advanced-stage assets target unmet medical needs in markets valued at over $70 billion. Investors can register for the free webinar and submit questions in advance or during the live event.
Can-Fite BioPharma (NYSE American: CANF) has announced that its veterinary partner Vetbiolix has exercised its option and signed a development and commercialization agreement for Piclidenoson, targeting osteoarthritis treatment in companion animals. This follows a successful clinical study in dogs. The arthritis market for companion animals is projected to grow from $3.8 Billion in 2023 to $6.3 Billion by 2030.
Can-Fite anticipates potential peak worldwide sales of $445 Million by 2034, capturing up to 6% of the market. The agreement entitles Can-Fite to a 15% royalty on worldwide sales, with projected earnings of $325 million over the next decade, assuming a 2027 launch. Piclidenoson offers a potentially safe and effective oral treatment for canine osteoarthritis, addressing limitations of current treatments.
Can-Fite BioPharma (NYSE American: CANF) has received approval from the Israeli Ministry of Health to conduct a Phase IIa clinical trial for Namodenoson in treating pancreatic carcinoma. The multicenter, open-label trial will enroll approximately 20 evaluable patients with advanced pancreatic adenocarcinoma whose disease has progressed on at least 1st-line therapy. Patients will receive 25 mg of oral Namodenoson twice daily in 28-day cycles.
The study aims to establish safety and clinical efficacy. Primary objectives include characterizing Namodenoson's safety profile, while secondary objectives involve evaluating clinical activity through metrics such as Objective Response Rate, Progression-Free Survival, and Overall Survival. The trial will be conducted at the Rabin Medical Center in Israel and UT Southwestern Medical Center in the US.
Can-Fite BioPharma (NYSE American: CANF) reported financial results and clinical updates for H1 2024. Key highlights include:
1. Exercise of warrants for $5.0 million in gross proceeds
2. Positive results from Piclidenoson's osteoarthritis study in dogs
3. Namodenoson's Phase 3 liver cancer study now has 31 recruiting centers
4. FDA granted IND clearance for Namodenoson in MASH treatment
Financial results: Revenues were $0.32 million, down from $0.39 million in H1 2023. Net loss decreased to $3.95 million from $4.22 million. Cash and equivalents stood at $4.72 million as of June 30, 2024.
RedChip Companies will air interviews with OS Therapies Inc. (NYSE American:OSTX) and Can-Fite BioPharma on Bloomberg TV on August 10, 2024, at 7 p.m. ET. Paul Romness, Chairman and CEO of OS Therapies, will provide a corporate update on the company's novel treatments for Osteosarcoma and other solid tumors. OS Therapies' product candidates, OST-HER2 and OST-tADC, aim to address gaps in pediatric and young adult cancer care. The company is approaching significant clinical milestones and potential revenue streams, including out-licensing deals and a priority review voucher valued at $100-110M.
Can-Fite BioPharma (NYSE American: CANF) has announced a definitive agreement for the immediate exercise of certain outstanding warrants, expected to generate approximately $5.0 million in gross proceeds. The warrants, issued in January and November 2023, allow for the purchase of up to 2,857,143 American Depositary Shares (ADSs) at an exercise price of $1.75 per ADS.
In exchange for this immediate cash exercise, Can-Fite will issue new unregistered warrants to purchase up to 5,714,286 ADSs at $2.25 per ADS. These new warrants will have varying expiration dates. The transaction is expected to close around August 12, 2024. H.C. Wainwright & Co. is acting as the exclusive placement agent for this offering.
Can-Fite plans to use the net proceeds for research and development, clinical trials, and general corporate purposes. The company has agreed to file a registration statement with the SEC for the resale of ADSs issuable upon exercise of the new warrants.
Can-Fite BioPharma (NYSE American: CANF) has announced an update on the intellectual property status of its lead drug candidate Namodenoson. The company expects broad protection for Namodenoson until at least 2044. Patents and patent applications cover methods of treating liver cancer, pancreatic cancer, and MASH using oral Namodenoson. A recent patent application protects the drug's manufacturing process.
Can-Fite has multiple approved patents and applications in various territories, including Europe and the US. The company is currently conducting a pivotal Phase III study in advanced liver cancer and a Phase IIb study in MASH, both in agreement with the FDA and EMA.
Can-Fite BioPharma (NYSE American: CANF) is hosting an exclusive live investor webinar and Q&A session on August 8, 2024, at 4:15 p.m. ET. The event will feature CEO Motti Farbstein and Executive Chairperson/CSO Dr. Pnina Fishman, who will discuss the company's development pipeline and upcoming milestones. Can-Fite, a biotechnology company focusing on oncological and inflammatory diseases, has secured multiple out-licensing deals with potential milestone payments exceeding $130 million. The company has already received $20 million in upfront and milestone payments, highlighting the potential of its therapies. Can-Fite's advanced-stage assets target unmet medical needs in markets valued at over $70 billion. Investors can register for the free webinar and submit questions in advance or during the live event.