Rafael Holdings - RFL STOCK NEWS

Rafael Holdings, Inc. reported its financial results for Q4 and full year fiscal 2023. They curtailed expenses and increased liquidity by selling their real estate. They invested in Cyclo Therapeutics and Day Three Laboratories. They had cash and marketable securities of $79.2 million as of July 31, 2023. Net income from continuing operations for Q4 was $1.3 million, compared to a net loss of $4.6 million in the same period last year. R&D expenses decreased from $1.8 million to $1.3 million. General and administrative expenses decreased from $3.0 million to $1.4 million.

Cyclo Therapeutics reports strong enrollment progress in pivotal Phase 3 study for Niemann-Pick Disease Type C1

Cyclo Therapeutics closes private placement with Rafael Holdings for $5,000,000, to be used for working capital and Trappsol® Cyclo™ development programs.

Cyclo Therapeutics closes private placement with Rafael Holdings for the purchase of common stock and warrants. The gross proceeds of the private placement were $2.1 million. William Conkling, Rafael's CEO, will join the Board of Directors of Cyclo Therapeutics. The net proceeds will be used for working capital and general corporate purposes.

Rafael Holdings (NYSE: RFL) announced a $5 million buyback of its Class B common stock to enhance shareholder value. CEO Bill Conkling emphasized the company's strong balance sheet and strategic opportunities in the current macroeconomic environment. The repurchase signals confidence in the company's long-term value creation strategy. The buyback will occur through open market purchases and other means, contingent upon market conditions and regulatory factors. Rafael Holdings aims to expand investments beyond biopharma, leveraging Executive Chairman Howard Jonas's expertise in identifying lucrative opportunities.

Rafael Holdings, Inc. (NYSE: RFL) reported its fiscal Q2 2023 results, highlighting a net loss of $3.3 million, or $0.13 per share, compared to a loss of $2.1 million, or $0.09 per share, in Q2 2022. As of January 31, 2023, the company had $88.9 million in cash, cash equivalents, and marketable securities. For the first half of fiscal 2023, Rafael recorded a net loss of $8.5 million, significantly reduced from $130.9 million in the prior year, which included substantial write-offs and impairments. R&D expenses decreased to $4.3 million from $5.5 million year-over-year, reflecting winding down programs at Barer Institute. General and administrative costs also declined. CEO Bill Conkling emphasized the strong balance sheet for funding pipeline assets.