Welcome to our dedicated page for Rafael Holdings news (Ticker: RFL), a resource for investors and traders seeking the latest updates and insights on Rafael Holdings stock.
Rafael Holdings, Inc. (RFL) news coverage centers on its activities as a biotechnology company developing pharmaceuticals and managing a portfolio of clinical and early-stage life science and technology businesses. Company press releases highlight progress in its lead program, Trappsol® Cyclo™, an investigational therapy for Niemann-Pick Disease Type C1 (NPC1), as well as updates from its wholly owned subsidiary Cyclo Therapeutics, LLC.
Investors following RFL news can expect regular updates on the pivotal Phase 3 TransportNPC™ clinical trial and related sub-studies of Trappsol® Cyclo™, including interim analyses, Data Monitoring Committee recommendations and presentations of clinical data at scientific meetings. News items also describe regulatory interactions, such as acceptance of statistical analysis plans, and design details of the NPC1 and Alzheimer’s disease trials conducted by Cyclo Therapeutics.
Rafael Holdings’ releases further cover financial results for its fiscal quarters and year, including net loss figures, research and development spending, and the impact of consolidating subsidiaries such as Cyclo Therapeutics, Cornerstone and Day Three Labs. Capital markets activity is another recurring theme, with announcements about a $25 million rights offering of Class B common stock, the associated standby purchase agreement and the issuance and exchange of warrants in connection with the merger with Cyclo Therapeutics, Inc.
Governance and corporate developments also appear in the RFL news flow. Examples include board and management changes, such as the election of new directors, committee appointments, the passing of a lead independent director, and executive transitions including the appointment of a Chief Operating Officer. For readers tracking RFL, this news page provides a consolidated view of clinical, financial, governance and capital structure developments disclosed by Rafael Holdings.
Rafael Holdings, Inc. (NYSE: RFL), a pharmaceutical holding company, has appointed Ashok Marin as Chief Legal Officer. The appointment comes as the company anticipates top-line data from Phase 3 trials for CPI-613, a key drug for metastatic pancreatic cancer. Marin, with over 20 years of experience, previously held senior legal roles at Immunomedics, contributing to its $21 billion acquisition by Gilead. Rafael granted Marin options to purchase 34,066 shares at $37.61, vesting over four years, as part of his employment inducement.
On September 17, 2021, Rafael Holdings, Inc. (NYSE: RFL) announced an inducement grant to Patrick Fabbio to purchase 105,602 shares of Class B common stock at an exercise price of $36.32. The options will vest 25% on the first anniversary and monthly thereafter until fully vested by September 17, 2025. This grant is part of Rafael's 2018 Equity Incentive Plan and was approved by the Compensation Committee, aimed at facilitating Fabbio's hiring as Chief Financial Officer on September 13, 2021. This strategic move underscores Rafael's commitment to strengthening its leadership team amid a focus on cancer therapeutics.
On September 14, 2021, Rafael Holdings, Inc. (NYSE: RFL) announced the appointment of Patrick Fabbio as Chief Financial Officer. With over 25 years of extensive experience in financial and operational roles within the life sciences sector, Fabbio aims to enhance the company’s financial strategy as it approaches pivotal clinical trial data for CPI-613®, targeting metastatic pancreatic cancer. CEO Ameet Mallik expressed confidence in Fabbio’s ability to drive growth in oncology therapeutics. Rafael Holdings continues to invest in its pipeline and aims for commercialization of its cancer metabolism therapies.
On August 26, 2021, Rafael Pharmaceuticals announced that CEO Sanjeev Luther will present at the World Orphan Drug Congress. His presentation, titled 'Leveraging Relationships in Ultra-rare Cancers,' will focus on the development of CPI-613® (devimistat) for ultra-rare cancers. Devimistat targets cancer cell metabolism, enhancing the effectiveness of chemotherapy while reducing side effects. The FDA has approved pivotal Phase 3 trials for devimistat in pancreatic cancer and acute myeloid leukemia and granted it orphan drug status for several cancers. More details will be available on Rafael’s website post-congress.
Rafael Pharmaceuticals has successfully completed a Phase 1b clinical trial of CPI-613® (devimistat) combined with gemcitabine and cisplatin for biliary tract cancer. This multicenter study, in collaboration with Michigan Medicine, showed promising results and identified the recommended Phase 2 dose. Phase 2 trials are currently enrolling patients to evaluate the efficacy of devimistat at maximum tolerated doses. Devimistat targets energy metabolism in cancer cells, aiming to improve treatment outcomes for patients with significant unmet medical needs.
Rafael Holdings (NYSE: RFL) has successfully closed a private investment in public equity (PIPE) financing, raising approximately $104.2 million. This financing involved the purchase of 2,833,425 shares of Class B common stock at $35.00 per share, with additional shares purchased at $44.42 by an investor linked to Howard Jonas. The transaction was orchestrated by SVB Leerink and Raymond James. The funds are expected to support Rafael Holdings' oncology initiatives, particularly through its partnerships in cancer therapy development.
Rafael Holdings, Inc. (NYSE: RFL) announced a private placement expected to generate gross proceeds of $104.2 million. The company will sell 2,833,426 shares of Class B common stock at $35.00 per share, plus 112,561 shares to an accredited investor at $44.42 per share, the closing price on August 19, 2021. The offering, not registered under the Securities Act, is subject to conditions and is set to close on August 24, 2021. A registration statement will be filed for resales of the securities.
Rafael Holdings, Inc. (NYSE: RFL) announced the addition of three senior executives: Gus Kodersha as Chief Technical Operations Officer, Melissa Lozner as Chief Compliance & Ethics Officer, and Brandi Robinson as Chief Corporate Affairs Officer. This strategic move aims to strengthen the company's leadership as it advances critical Phase 3 clinical trials, particularly for CPI-613® targeting metastatic pancreatic cancer. CEO Ameet Mallik emphasized the new leaders' extensive experience, which is expected to enhance the company’s potential in developing cancer metabolism therapeutics.
Rafael Pharmaceuticals announced positive results from the interim futility analysis of its Phase 3 trial (ARMADA 2000) for CPI-613® (devimistat) in treating relapsed or refractory acute myeloid leukemia (AML). Conducted by an independent Data Monitoring Committee on June 25, 2021, the trial was deemed non-futile, allowing it to continue. The interim analysis involved 142 patients and indicated a predefined response rate threshold was met. Devimistat targets cancer cell energy metabolism, potentially enhancing treatment efficacy while reducing side effects for various cancers.
Rafael Pharmaceuticals announced that data regarding its lead compound, devimistat, will be presented at the 2021 ESMO World Gastrointestinal Congress from June 30 to July 3. This presentation will focus on ongoing trials for devimistat in treating pancreatic and biliary tract cancer. Both cancers have low survival rates, with biliary cancer at 9% and pancreatic cancer at 10.8% over five years. Devimistat targets cancer cell metabolism and may improve treatment outcomes, with pivotal Phase 3 trials already approved by the FDA.
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