Can-Fite BioPharma (CANF) Q2 2025 earnings summary

Executive summary

• Achieved over 50% enrollment in Phase 2a study of Namodenoson for advanced pancreatic cancer, with favorable safety profile and FDA Orphan Drug Designation.

• FDA approved first single-patient compassionate use of Namodenoson for pancreatic carcinoma, generating interest from leading U.S. medical centers.

• Breakthrough UCLA study demonstrated Piclidenoson restored tissue integrity and behavioral function in a vascular dementia model.

Financial highlights

• Revenues for H1 2025 were $0.20 million, down 36.07% year-over-year from $0.31 million in H1 2024, mainly due to lower recognition of advance payments from distribution agreements.

• Research and development expenses rose 5.16% to $3.03 million, driven by ongoing clinical studies for Piclidenoson and Namodenoson.

• General and administrative expenses increased 35.47% to $2.07 million, primarily due to a one-time investor relations project.

• Net loss for H1 2025 was $4.87 million, compared to $3.95 million in H1 2024, reflecting higher R&D and administrative costs.

• Cash and cash equivalents plus short-term deposits totaled $6.45 million as of June 30, 2025, down from $7.88 million at year-end 2024.

Outlook and guidance

• General and administrative expenses are expected to remain at current levels through 2025.

• Forward-looking statements highlight risks related to funding, clinical progress, regulatory approvals, and market acceptance.