Can-Fite BioPharma Ltd. - CANF STOCK NEWS

Can-Fite BioPharma Ltd. (NYSE American: CANF) announced significant executive appointments aimed at advancing its commercialization efforts in psoriasis and liver cancer. Dr. Pnina Fishman has been appointed as Executive Chairman of the Board, maintaining her role as Chief Scientific Officer. Motti Farbstein, who has been with the company for 20 years, will take over as Chief Executive Officer while continuing his duties as Chief Financial Officer. These changes will be effective from June 30, 2023. The company is pushing forward with two pivotal Phase III trials for its drug candidates, Piclidenoson for psoriasis and Namodenoson for liver cancer. Can-Fite's prospects in the market are substantial, with ongoing evaluations and regulatory designations for its drugs, aimed at addressing major health conditions and tapping into multi-billion dollar markets.

Can-Fite BioPharma (NYSE American: CANF) has received a positive opinion from the European Medicines Agency's Committee for Medicinal Products for Human Use regarding its registration plan for a pivotal Phase III clinical trial targeting moderate to severe psoriasis. The trial will evaluate the safety and efficacy of Piclidenoson, the company's lead drug candidate. This follows the recent successful topline results from the Phase III COMFORT™ study, which demonstrated significant improvement over placebo. Can-Fite is also preparing a comparable data package for the US FDA. The CEO emphasized the drug's oral dosage, safety profile, and potential in a large market for effective psoriasis treatments.

Can-Fite BioPharma Ltd. (NYSE American: CANF) announced its financial results for the year ended December 31, 2022, reporting revenues of $0.81 million, a 4.7% decrease from $0.85 million in 2021. Research and development expenses decreased by 21.2% to $7.76 million, while general and administrative expenses fell 18.2% to $3.14 million. The net loss was reduced to $10.17 million from $12.61 million in 2021. Can-Fite highlighted significant clinical achievements, including a successful Phase III trial for Piclidenoson in psoriasis and promising preclinical results for Namodenoson against pancreatic cancer. The company also secured a patent for liver fibrosis treatment.

Can-Fite BioPharma (NYSE American: CANF) announced regional deals that include upfront payments, regulatory and sales milestones, and double-digit royalties. The company's VP of Business Development, Dr. Sari Fishman, will participate in the BIO-Europe Spring conference in Basel, Switzerland from March 20 to 22, 2023, aiming to establish licensing and distribution agreements for its advanced drug candidates, Piclidenoson and Namodenoson. Both drugs have shown promising results in clinical trials, with Piclidenoson moving into a Phase III trial. Can-Fite aims to accelerate drug distribution, enhancing partnership agreements in Europe, Asia, and Canada.

Can-Fite BioPharma (NYSE American: CANF) announced compassionate use of its drug Namodenoson for patients with decompensated cirrhosis at Soroka Medical Center in Israel. This condition currently has no approved therapeutic options aside from liver transplants. Namodenoson, undergoing pivotal Phase III studies for liver cancer, has shown potential benefits in clinical trials for cirrhosis and NASH, highlighting the urgent need for effective treatments as the liver cirrhosis market is projected to reach $15 billion in the U.S. by 2030.

Can-Fite BioPharma (NYSE American: CANF) announced progress on its drug Namodenoson, currently undergoing a pivotal Phase III study approved by the FDA and EMA. Namodenoson, an orally bioavailable drug, targets liver cancer cells while sparing normal liver cells, demonstrating improved survival rates in advanced liver cancer patients. The drug holds Orphan Drug and Fast Track designations in both the U.S. and Europe. Published research indicates a very favorable safety profile and its potential effectiveness based on Phase II trial outcomes. The study aims to enroll 450 patients across Israel, Europe, and the U.S., with an interim data analysis planned.