Can-Fite BioPharma (CANF) Registration Filing summary

Company overview and business model

• Advanced clinical-stage biopharmaceutical company developing orally bioavailable small molecule therapeutics targeting the A3 adenosine receptor (A3AR) for cancer, liver, and inflammatory diseases, as well as erectile dysfunction.

• Pipeline includes CF101 (Piclidenoson) for psoriasis, CF102 (Namodenoson) for hepatocellular carcinoma (HCC) and MASH, and CF602 for erectile dysfunction.

• Out-licensing agreements for key product candidates in multiple global territories; focus on global partnerships and out-licensing for commercialization.

• Strategy centers on advancing clinical pipeline, in-licensing synergistic technologies, and targeting major global markets.

Financial performance and metrics

• Recent direct offering in April 2025 raised approximately $3.0 million in gross proceeds.

• Pro forma as adjusted net tangible book value after the offering would be approximately $13.31 million, or $0.73 per ADS.

• Immediate and substantial dilution of approximately $0.29 per ADS for new investors at the assumed offering price.

• Existing cash and offering proceeds expected to fund operations through the end of February 2027 if maximum proceeds are raised.

Use of proceeds and capital allocation

• Net proceeds (estimated at $4.20 million if fully subscribed) intended for research and development, clinical trials, and general corporate purposes.

• Management retains broad discretion over allocation of proceeds; actual use will depend on liquidity needs and market conditions.