Can-Fite BioPharma Ltd ( (CANF) ) has released its Q4 earnings. Here is a breakdown of the information Can-Fite BioPharma Ltd presented to its investors.
Can-Fite BioPharma Ltd. is a biotechnology company focused on developing small molecule drugs targeting oncological and inflammatory diseases. The company operates in the biotechnology sector and is known for its innovative approach in drug development.
In its latest earnings report, Can-Fite BioPharma Ltd. announced financial results and clinical updates for the year ending December 31, 2024. The company highlighted significant clinical milestones, including advancements in its drug candidates Namodenoson and Piclidenoson.
Key financial metrics included a revenue of $0.67 million, marking a 9.3% decrease from the previous year. Research and development expenses saw a slight reduction to $5.75 million, while general and administrative expenses increased marginally to $3.04 million. The net loss for the year was reported at $7.88 million, a slight increase from the previous year. On the clinical front, Namodenoson showed promising results in liver cancer treatment and received Orphan Drug Designation for pancreatic cancer. Piclidenoson progressed in its phase 3 psoriasis study and entered new clinical areas, including Lowe Syndrome and canine osteoarthritis.
Looking ahead, Can-Fite BioPharma Ltd. remains focused on advancing its clinical trials and exploring new therapeutic applications for its drug candidates. The management is optimistic about the potential of its pipeline to address significant unmet medical needs in oncology and inflammatory diseases.