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Rafael (RFL) investor relations material
Rafael Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Advanced pivotal Phase 3 TransportNPC™ trial for Trappsol® Cyclo™ in Niemann-Pick Disease Type C1, with continued enrollment following positive DMC review.
Strengthened leadership with appointment of new COO, board member, and audit committee chair.
Closed a $25 million rights offering in June 2025, enhancing liquidity for ongoing and future programs.
Financial highlights
Cash and cash equivalents stood at $52.8 million as of July 31, 2025.
Net loss for Q4 2025 was $12.1 million ($0.28/share), up from $4.5 million ($0.19/share) year-over-year, mainly due to consolidation of Cyclo and other entities.
Full-year net loss was $30.5 million ($1.04/share), an improvement from $34.4 million ($1.45/share) in the prior year.
Research and development expenses rose to $7.5 million in Q4 and $12.8 million for the year, reflecting new acquisitions.
General and administrative expenses increased to $5.5 million in Q4 and $13.8 million for the year.
Outlook and guidance
Management remains optimistic about advancing Trappsol® Cyclo™ and investing in additional opportunities, supported by improved financial position.
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