PR Newswire
NEWARK, N.J., June 9, 2020
NEWARK, N.J., June 9, 2020 /PRNewswire/ -- Rafael Holdings, Inc., (NYSE: RFL), reported revenue of $1.2 million and a loss per share of $0.14 for the fiscal quarter ended April 30, 2020.
Rafael Pharmaceuticals
LipoMedix
At April 30, 2020, Rafael Holdings held 57.9% 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
Rafael Holdings increased its investment in pharmaceutical development through its Barer Institute subsidiary. The Barer Institute is currently testing indications for lead compounds targeting cancer metabolism and has initiated a preclinical in-licensing effort on selected compounds that target the unique mechanisms of cancer.
Remarks by Howard Jonas, Chairman and CEO of Rafael Holdings
"Rafael Holdings' key pharmaceutical investments, Rafael Pharma and LipoMedix and our wholly owned Barer Institute, continue to execute on their development and clinical programs despite the challenges posed by the worldwide Covid-19 pandemic. I am especially gratified that Rafael Pharma has surpassed the 80% enrollment milestone in its pivotal Phase 3 Avenger 500 study of patients with pancreatic cancer. The Barer Institute is evaluating promising candidates for potential clinical development programs. And finally, we continue to work to monetize our New Jersey real estate assets, while our asset in Israel is now fully leased."
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 a pipeline of 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 www.rafaelholdings.com.
RAFAEL HOLDINGS, INC. CONSOLIDATED BALANCE SHEETS (unaudited, in thousands, except share data) | ||||||||
| ||||||||
| | April 30, | | | July 31, | | ||
| | 2020 | | | 2019 | | ||
| | | | | | | ||
ASSETS | | | | | | | ||
| | | | | | | ||
CURRENT ASSETS | | | | | | | ||
Cash and cash equivalents | | $ | 8,430 | | | $ | 12,024 | |
Trade accounts receivable, net of allowance for doubtful accounts of $143 | | | 261 | | | | 450 | |
Due from Rafael Pharmaceuticals | | | 135 | | | | 280 | |
Prepaid expenses and other current assets | | | 336 | | | | 507 | |
Total current assets | | | 9,162 | | | | 13,261 | |
| | | | | | | | |
Property and equipment, net | | | 47,811 | | | | 48,733 | |
Investments – Rafael Pharmaceuticals | | | 70,018 | | | | 70,018 | |
Investments – Other Pharmaceuticals | | | 1,705 | | | | 2,000 | |
Investments – Hedge Funds | | | 5,617 | | | | 5,125 | |
Equity investment – RP Finance | | | 53 | | | | — | |
Deferred income tax assets, net | | | 6 | | | | 19 | |
In-process research and development and patents | | | 1,575 | | | | 1,575 | |
Other assets | | | 1,484 | | | | 1,412 | |
| | | | | | | | |
TOTAL ASSETS | | $ | 137,431 | | | $ | 142,143 | |
| | | | | | | | |
LIABILITIES AND EQUITY | | | | | | | | |
| | | | | | | | |
CURRENT LIABILITIES | | | | | | | | |
Trade accounts payable | | $ | 700 | | | $ | 795 | |
Accrued expenses | | | 728 | | | | 605 | |
Other current liabilities | | | 57 | | | | 27 | |
Total current liabilities | | | 1,485 | | | | 1,427 | |
| | | | | | | | |
Due to Related Party | | | 27 | | | | 65 | |
Convertible note, net of discount of $0 and $54 – Related Party | | | — | | | | 14,946 | |
Other liabilities | | | 92 | | | | 292 | |
Accrued interest on convertible note – Related Party | | | — | | | | 649 | |
TOTAL LIABILITIES | | | 1,604 Werbung Mehr Nachrichten zur Rafael Holdings Aktie kostenlos abonnieren
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