PR Newswire
NEWARK, N.J., Dec. 15, 2020
NEWARK, N.J., Dec. 15, 2020 /PRNewswire/ -- Rafael Holdings, Inc., (NYSE: RFL), reported revenue of $1.1 million and a loss per share of $0.09 for the first quarter of its 2021 fiscal year, the three months ended October 31, 2020.
Rafael Pharmaceuticals
At October 31, 2020, the Company and its subsidiaries collectively owned securities representing 51% of the outstanding capital stock of Rafael Pharmaceuticals and approximately 37% on a fully diluted basis. Recent developments announced by Rafael Pharmaceuticals include:
LipoMedix
At October 31, 2020, Rafael Holdings held 68% of the issued and outstanding ordinary shares of LipoMedix, a development-stage Israeli company focused on the development of an innovative, safe and effective cancer therapy based on liposome delivery.
Barer Institute
The Barer Institute has identified and begun to develop new therapeutic compounds, including compounds to regulate cancer metabolism, through internal development and in-licensing. It is working to validate newly discovered biomarkers for resistance and sensitivity within its portfolio compounds and to identify certain novel targetable mechanisms of action.
Remarks by Howard Jonas, Chairman and CEO of Rafael Holdings
"Rafael Holdings'continued to pursue the strategic goal of creating value in the pharmaceutical field including through its investments in Rafael Pharmaceuticals and its wholly owned Barer Institute. In that regard, I am pleased that, among other milestones achieved, Rafael Pharmaceuticals' lead compound, CPI-613® (devimistat), received U.S. Food and Drug Administration granted Fast Track designation for the treatment of metastatic pancreatic cancer and, as Rafael Pharmaceuticals announced earlier today, for acute myeloid leukemia (AML). The Barer Institute continues to make meaningful progress on its drug development programs."
About Rafael Holdings, Inc.:
Rafael Holdings is focused on development of novel cancer therapies. The company is a significant investor in two clinical stage oncology companies, Rafael Pharmaceuticals, Inc. and LipoMedix Pharmaceuticals Ltd. Through its wholly owned Barer Institute subsidiary, the company is developing compounds focused on the regulation of cancer metabolism. The company also holds commercial real estate assets in New Jersey and Jerusalem. For more information, visit our website at rafaelholdings.com.
RAFAEL HOLDINGS, INC. | |||||||
CONSOLIDATED BALANCE SHEETS | |||||||
(unaudited, in thousands, except share and per share data) | |||||||
| |||||||
| October 31, | | | July 31, | | ||
ASSETS | | | | | | ||
CURRENT ASSETS | | | | | | ||
Cash and cash equivalents | $ | 7,231 | | | $ | 6,206 | |
Trade accounts receivable, net of allowance for doubtful accounts of $256 and $218 at October 31, 2020 and July 31, 2020, respectively | | 309 | | | | 267 | |
Due from Rafael Pharmaceuticals | | 240 | | | | 118 | |
Prepaid expenses and other current assets | | 460 | | | | 273 | |
Assets held for sale | | — | | | | 2,968 | |
Total current assets | | 8,240 | | | | 9,832 | |
| | | | | | | |
Property and equipment, net | | 44,141 | | | | 44,433 | |
Equity investment – RP Finance | | 288 | | | | 192 | |
Due from RP Finance LLC | | 1,875 | | | | — | |
Investments – Rafael Pharmaceuticals | | 70,018 | | | | 70,018 | |
Investments – Other Pharmaceuticals | | 477 | | | | 1,201 | |
Investments – Hedge Funds | | 6,454 | | | | 7,510 | |
Deferred income tax assets, net | | — | | | | 6 | |
In-process research and development and patents | | 1,575 | | | | 1,575 | |
Other assets | | 1,550 | | | | 1,580 | |
TOTAL ASSETS | $ | 134,618 | | | $ | 136,347 | |
LIABILITIES AND EQUITY | | | | | | | |
CURRENT LIABILITIES | | | | | | | |
Trade accounts payable | $ | 1,155 | | | $ | 921 | |
Accrued expenses | | 443 | | | | 1,191 | |
Amount due for purchase of membership interest | | 3,500 | | | | 3,500 | |
Other current liabilities | | 141 | | | | 115 | |
Due to related parties | | 30 | | | | — | |
Total current liabilities | | 5,269 | | | | 5,727 | |
| | | | | | | |
Other liabilities | | 33 | | | | 92 | |
TOTAL LIABILITIES | | 5,302 | | | | 5,819 | |
| | | | | | | |
COMMITMENTS AND CONTINGENCIES | | | | | | | |
| | | | | | | |
EQUITY | | | | | | | |
Class A common stock, $0.01 par value; 35,000,000 shares authorized, 787,163 shares issued and outstanding as of October 31, 2020 and July 31, 2020, respectively Werbung Mehr Nachrichten zur Rafael Holdings Aktie kostenlos abonnieren
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