Rafael (RFL) Study result summary
Event summary combining transcript, slides, and related documents.
Study result summary
30 Sep, 2026Study design and patient population
Phase III double-blind, placebo-controlled study conducted in 13 countries at 27 sites with 94 patients randomized 2:1 to Trappsol Cyclo or placebo, ages 3 to 70 years.
Patients received Trappsol Cyclo 2,000 mg/kg IV every two weeks plus standard of care for 96 weeks.
Primary endpoint was change from baseline in the four-domain NPC Clinical Severity Scale (4D) at week 96.
Efficacy results
Trappsol Cyclo did not reach statistical significance on the primary endpoint but showed a directionally favorable effect versus placebo in slowing disease progression at week 96.
In a pre-specified subgroup (83% of patients) on background miglustat and/or leucine, Trappsol Cyclo achieved a statistically significant mean difference of -1.105 (P=0.046), slowing progression by 71%.
Improvements were most notable in the swallowing domain, a key factor in morbidity and mortality.
Safety and tolerability
Trappsol Cyclo was well-tolerated; most adverse events were mild to moderate and consistent with underlying disease, with no new safety signals.
Serious adverse events occurred more frequently in the Trappsol Cyclo group (35.9%) than placebo (16.7%), but treatment-related serious events were similar between groups.
Hearing-related adverse events were mostly mild to moderate; only one severe case required hearing aids or resulted in bilateral deafness.
No deaths were reported; one withdrawal due to adverse event.
Latest events from Rafael
- Trappsol® Cyclo™ nears NDA submission as a potential foundational NPC therapy in a $920M+ market.RFL
Investor presentation - Net loss widened to $20.5M on $630K revenue; NDA submission expected in H2 2026.RFL
Q3 2026 - Net loss widened on higher R&D, cash at $37.8M, pivotal trial results due Q3.RFL
Q2 2026 - $25M shelf offering to fund rare disease drug development and strategic initiatives.RFL
Registration Filing - Shelf registration allows flexible capital raising with robust governance and indemnification.RFL
Registration Filing - Net loss rose to $9.8M on higher R&D costs, with $45.5M in cash and Phase 3 trial ongoing.RFL
Q1 2026 - Annual meeting to elect directors, ratify auditor, and expand equity plan by 750,000 shares.RFL
Proxy Filing - Annual meeting to elect directors, ratify auditor, and expand equity plan share pool.RFL
Proxy Filing - Phase 3 trial progress and $25M rights offering drive improved financial outlook.RFL
Q4 2025