Rafael Holdings Q4 net loss widens on Cyclo acquisition-related expenses

Reuters
Oct 30
Rafael Holdings Q4 net loss widens on Cyclo acquisition-related expenses

Overview

  • Rafael Holdings Q4 net loss widens to $12.1 mln due to acquisition-related expenses

  • Company's Q4 revenue was $350,000

  • Research and development expenses rose significantly due to Cyclo acquisition

Outlook

  • Rafael Holdings continues Phase 3 trial for Trappsol® Cyclo™ in Niemann-Pick Disease Type C1

Result Drivers

  • ACQUISITION IMPACT - Consolidation of Cyclo Therapeutics' expenses contributed to increased R&D and administrative costs, widening net loss

  • FINANCIAL POSITION - $25 mln rights offering closed in June bolstered financial position for advancing Trappsol Cyclo program

  • R&D EXPENSES - R&D expenses rose to $7.5 mln in Q4 due to Cyclo acquisition and related activities

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q4 Revenue

$350,000

Q4 Net Income

-$12.05 mln

Q4 Operating Income

-$12.76 mln

Press Release: ID:nGNX6YltrT

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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