Can-Fite BioPharma reports 1H revenue $390K vs. $410K for 1H last year

Revenues for the six months ended June 30 were $0.39M compared to revenues of $0.41M during the six months ended June 30, 2022. Net loss for the six months ended June 30, 2023 was $4.22M compared with a net loss of $4.62M for the six months ended June 30, 2022. The decrease in net loss for the six months ended June 30, 2023 was primarily attributable to the Revenues for the six months ended June 30, 2023 and June 30, 2022 comprised of recognition of a portion of advance payments received under distribution agreements with Gebro, CKD, Cipher and Ewopharma. “With two ongoing studies and two more about to commence in large treatment markets with unmet needs, we continue to advance our late-stage development pipeline to bring our potentially game-changing drugs to market,” stated Can-Fite CEO & CFO Motti Farbstein. Dr. Pnina Fishman, Can-Fite’s CSO and Executive Chairman added, “We are particularly excited about our entry into the rare genetic disease field with the discovery of Piclidenoson’s efficacy in Lowe Syndrome in pre-clinical studies. Given Piclidenoson’s very favorable safety profile, we believe it will be a good candidate for directly entering advanced stage trials in children and adolescents living with Lowe Syndrome. Rare genetic diseases can have a more direct rapid path to regulatory approval with smaller trial sizes due to the pressing need in a small, unserved patient population. ” As of June 30, 2023, Can-Fite had cash and cash equivalents and short term deposits of $9.60M as compared to $7.98 M at December 31, 2022. The decrease in cash during the six months ended June 30 is due to the ongoing operations of the Company..