Rafael Holdings Reports $9.8M Net Loss in Q1, R&D Expenses Rise to $7.5M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 11 2025
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Source: Globenewswire
- Financial Performance: As of October 31, 2025, Rafael Holdings reported a net loss of $9.8 million for Q1, translating to a loss of $0.19 per share, which is an increase from last year's $9.0 million and $0.37 per share, reflecting the impact of consolidating Cyclo Therapeutics' expenses post-acquisition.
- Surge in R&D Expenses: Research and development expenses soared to $7.5 million this quarter, compared to $1.3 million in the same period last year, primarily due to the inclusion of Cyclo's costs, indicating the company's ongoing commitment to drug development.
- Cash Flow Status: As of October 31, 2025, the company had cash and cash equivalents of $45.5 million, down from $52.8 million on July 31, 2025, highlighting liquidity pressures amid ongoing losses.
- Clinical Trial Progress: Rafael Holdings' Trappsol®Cyclo™ received a recommendation to continue from the Data Monitoring Committee in its pivotal Phase 3 trial for Niemann-Pick Disease Type C1, suggesting the drug could become a significant new treatment option for this rare and fatal genetic disorder.
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About RFL
Rafael Holdings, Inc. is a biotechnology company that develops pharmaceuticals and holds interests in clinical and early-stage companies that develop pharmaceuticals and medical devices. The Company's segments include Healthcare, Infusion Technology and Real Estate. The Company’s lead candidate is Trappsol Cyclo, which is being evaluated in clinical trials for the potential treatment of Niemann-Pick Disease Type C1 (NPC1), a rare, fatal and progressive genetic disorder. The Healthcare segment comprises equity interests in LipoMedix Pharmaceuticals Ltd., Barer Institute Inc., Cornerstone Pharmaceuticals, Inc., Cyclo, and Rafael Medical Devices, LLC. The Real Estate segment consists of the Company’s real estate holdings, which comprise a portion of one commercial building in Israel. The Infusion Technology segment comprises equity interests in Day Three Labs, Inc. LipoMedix Pharmaceuticals Ltd. is a clinical-stage pharmaceutical company.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Rafael Holdings Reports $9.8M Net Loss in Q1, R&D Expenses Rise to $7.5M
- Financial Performance: As of October 31, 2025, Rafael Holdings reported a net loss of $9.8 million for Q1, translating to a loss of $0.19 per share, which is an increase from last year's $9.0 million and $0.37 per share, reflecting the impact of consolidating Cyclo Therapeutics' expenses post-acquisition.
- Surge in R&D Expenses: Research and development expenses soared to $7.5 million this quarter, compared to $1.3 million in the same period last year, primarily due to the inclusion of Cyclo's costs, indicating the company's ongoing commitment to drug development.
- Cash Flow Status: As of October 31, 2025, the company had cash and cash equivalents of $45.5 million, down from $52.8 million on July 31, 2025, highlighting liquidity pressures amid ongoing losses.
- Clinical Trial Progress: Rafael Holdings' Trappsol®Cyclo™ received a recommendation to continue from the Data Monitoring Committee in its pivotal Phase 3 trial for Niemann-Pick Disease Type C1, suggesting the drug could become a significant new treatment option for this rare and fatal genetic disorder.
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Rafael Holdings Announces Continuation of its Phase 3 Study for the Treatment of Niemann-Pick Disease Type C1 (NPC1) Following Independent Data Monitoring Committee (DMC) Review of Prespecified 48-Week Interim Data
Continuation of Phase 3 Study: Rafael Holdings' subsidiary, Cyclo Therapeutics, will continue its pivotal phase 3 TransportNPC study for Trappsol® Cyclo™ in treating Niemann-Pick Disease Type C1 (NPC1) after a positive interim analysis by an independent Data Monitoring Committee (DMC).
Trappsol® Cyclo™ Overview: Trappsol® Cyclo™, administered intravenously, aims to address the root cause of NPC1 by mobilizing cholesterol from cells, and has shown a favorable safety profile consistent with earlier studies.
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