RFL Overview

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.

Real Estate Sector Performance: Real estate shares have shown relative strength, increasing by approximately 1% overall, with Rafael Holdings rising by about 10.7% and Jones Lang LaSalle up by around 2.3% on Thursday.

Market Commentary Disclaimer: The views expressed in the article are those of the author and do not necessarily represent the opinions of Nasdaq, Inc.

Rights Offering Results: Rafael Holdings, Inc. successfully closed a $25 million rights offering, resulting in subscriptions for 3,130,480 shares of Class B common stock, generating gross proceeds of approximately $4 million. CEO Howard Jonas and affiliates will purchase unsubscribed shares through a backstop private placement totaling about $21 million.

Use of Proceeds: The funds raised from the rights offering and backstop private placement are intended to support regulatory approval efforts and potential launch of Trappsol® Cyclo™ for treating Niemann-Pick Disease Type C1, pending positive results from ongoing clinical trials.

Rights Offering Announcement: Rafael Holdings, Inc. has announced a rights offering for holders of Class A and B Common Stock, allowing them to purchase shares at a subscription price of $1.28 each, with the subscription period running from May 13 to May 29, 2025.

Eligibility and Participation Details: To participate, holders must be recorded as of May 9, 2025, and former Cyclo Therapeutics shareholders need to exchange their shares for Class B common stock before this date; Howard Jonas will also purchase any unsubscribed shares under a Standby Purchase Agreement.