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PainReform Ltd. (symbol: PRFX) is a clinical-stage specialty pharmaceutical company dedicated to the development of innovative pain management solutions. The company focuses on the reformulation of established pain therapeutics, leveraging the US FDA 505(b)(2) regulatory pathway to bring enhanced products to market more efficiently.
The company’s flagship product, PRF-110, is designed to address the significant need for localized and extended post-operative pain relief. PRF-110 is a unique, oil-based, viscous solution containing the local anesthetic ropivacaine. This solution is applied directly into the surgical wound bed before closure, providing sustained pain relief and reducing the need for additional analgesics post-surgery.
PainReform applies proprietary technologies to improve the efficacy, reduce the adverse effects, and increase the convenience of pain medications. Their mission is to deliver pain therapeutics that offer clinically meaningful benefits to both physicians and patients.
Recent Achievements: PRF-110 has demonstrated superior formulation properties, particularly in terms of surface-tissue spreading, which is crucial for effective localized pain management. The company remains on track to announce top-line data from their clinical trials by mid-2024, indicating significant progress in their development timeline.
PainReform Ltd. continues to build strategic partnerships and collaborations to advance its product pipeline and bring new pain management solutions to market. By focusing on the reformulation of established drugs, the company aims to enhance patient outcomes and contribute positively to the field of pain management.
PainReform Ltd. (Nasdaq: PRFX) provided a business update for 2021, revealing plans to start a Phase 3 trial of PRF-110 for bunionectomy in H2 2022. The company has $16.6 million in cash, a positive working capital of $18.3 million, and no debt. R&D expenses surged to $2.9 million from $0.4 million in 2020, while the net loss increased to $7.2 million. PainReform's lead product, PRF-110, aims to meet the $35 billion post-operative pain management market, potentially reducing opioid use. Key developments are anticipated in 2022 to enhance shareholder value.
TEL AVIV, Israel, Dec. 14, 2021 – PainReform Ltd. (Nasdaq: PRFX) announced that CEO Ilan Hadar will participate in the Benzinga All Access event on December 16, 2021, at 10:00 A.M. ET. The event features a live interview with Spencer Israel, Executive Producer of Benzinga TV. Investors can watch the event here. PainReform, focused on reformulating established therapeutics, aims to provide extended post-operative pain relief with its product PRF-110.
PainReform (Nasdaq: PRFX) has reported progress towards commencing Phase 3 clinical trials for PRF-110, its lead product aimed at post-operative pain relief, using ropivacaine. The company has selected Pharmaceutics International, Inc. as its U.S. manufacturer for clinical batches. They expect to start the first trial in bunionectomy by late 2022. Despite a net loss of $5.5 million for the first nine months of 2021, PainReform maintains a healthy cash balance of $18.4 million, providing a runway for important milestones ahead.
PainReform Ltd. (Nasdaq: PRFX) announced that CEO Ilan Hadar will present at the Dawson James Securities Small Cap Growth Conference on October 21, 2021, at 3:15 PM ET in Jupiter, Florida. This conference will feature one-on-one meetings with qualified investors. The live webcast and recorded presentation will be accessible on PainReform's investor relations website. PainReform specializes in reformulating therapeutics, focusing on PRF-110, which targets post-operative pain relief through an innovative drug-delivery system.
PainReform Ltd. (NASDAQ: PRFX) announced a shift of manufacturing operations for its lead product, PRF-110, to a U.S.-based Contract Development and Manufacturing Organization to enhance quality and efficiency. This decision aims to resolve previous manufacturing delays, with plans to initiate Phase 3 clinical trials by Q1 2022. As of June 30, 2021, PainReform reported $17.8 million in cash, which increased to over $19 million following recent warrant exercises. The company also reported a net loss of $3.7 million for the first half of 2021, up from $2.0 million a year earlier.
PainReform Ltd. (Nasdaq: PRFX) reported significant advancements towards launching Phase 3 clinical trials for PRF-110, targeting post-operative pain relief in bunionectomy surgery. With a strong cash position of $19.4 million as of March 31, 2021, the company is prepared for ongoing activities and future trials. Recent financial results show a net loss of $2.041 million for Q1 2021, reflecting a 57% increase from the previous year due to rising operational costs linked to clinical trial preparations. The firm remains optimistic about PRF-110's potential to reduce opioid reliance.
PainReform Ltd. (Nasdaq: PRFX) announced significant progress in its Phase 3 clinical trials for PRF-110. The company engaged Lotus Clinical Research for the bunionectomy surgery trial, set to begin mid-2021. Recent achievements include a $6 million private placement, enhancing its cash runway for key milestones. However, the company reported a net loss of $4.1 million for 2020, with substantial increases in R&D and administrative expenses. The cash position as of December 31, 2020, was $15.7 million, expected to fund operations into Q2 2022.
PainReform Ltd. (Nasdaq: PRFX) announced that CEO Ilan Hadar will present at the Inaugural Emerging Growth Virtual Conference from March 17-19, 2021. This presentation will be accessible to registered participants and later posted on PainReform’s website. The company specializes in reformulating established therapeutics, with its lead product, PRF-110, focusing on post-operative pain relief using a local anesthetic, ropivacaine. PRF-110 aims to provide extended analgesia through a unique delivery system, reducing the need for opiates.
PainReform Ltd. (Nasdaq: PRFX) announced a private placement to raise approximately $6.0 million by issuing 1,304,346 ordinary shares and warrants. The purchase price is set at $4.60 per share, with warrants allowing the purchase of an additional 652,173 shares. Closing is expected on March 10, 2021, pending customary conditions. Maxim Group LLC and Joseph Gunnar & Co., LLC are acting as placement agents. The securities will not be registered under the Securities Act and are offered only to accredited investors. This move highlights PainReform's strategy to secure funding for its pain relief product, PRF-110.
PainReform Ltd. (Nasdaq: PRFX), a clinical stage specialty pharmaceutical company, announced participation in the H.C. Wainwright BioConnect 2021 Conference, occurring virtually from January 11-14, 2021. A webcast of the presentation will be available on-demand starting January 11, 2021, at 6:00 a.m. ET, accessible for 90 days. PainReform's lead product, PRF-110, aims to enhance post-operative pain relief using a proprietary extended-release drug-delivery system, targeting the local anesthetic market with reduced opiate needs.
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