Rafael Holdings Strengthens its Focus on the Development of Trappsol® Cyclo™ and Announces Chief Executive Officer Bill Conkling Will Be Stepping Down from His Role
Leadership Changes at Rafael Holdings: Bill Conkling will step down as CEO of Rafael Holdings following its merger with Cyclo Therapeutics, with Howard Jonas taking over the role. Conkling will remain in an advisory position to assist during the transition.
Clinical Trial Update: The Phase 3 clinical trial for Trappsol® Cyclo™ aimed at treating Niemann-Pick Disease Type C1 is fully enrolled, and interim results are expected by mid-2025, highlighting the company's commitment to developing new treatments for this rare genetic disorder.
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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.
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.
