Can-Fite BioPharma Ltd. (CANF) is a novel biotechnology company. The company produces drugs used in cancer, and liver, treatment. The pipeline candidate of the company is Piclidenoson, in Phase 3 trials for treating psoriasis. Another pipeline candidate is Namodenoson, in Phase 3 clinical trials for treating liver cancer.
The price of CANF stock in the regular trading session of March 7, 2022, was $1.11 with a significant decline of 0.89%. Its stock nose-dived further by 8.87%, at the last check of the pre-market on March 8, 2022.
CANF: Events and Happenings
On March 8, 2022, CANF reported its top-line data from Phase 3 trials of Piclidenoson is planned to be released in the second quarter of 2022 as a result of unexpected interruption in the data collection. The trials registered approximately 400 patients across different sites.
On January 31, 2022, CANF updated on the preliminary patient enrollment in Phase 2 trials Namodenoson for the treatment of NASH. The chief efficacy objective of the study is an assessment of its efficacy in comparison to placebo in 140 patients with NASH, as demonstrated by a histological endpoint. On January 13, 2022, CANF announced that pre-clinical trials of Piclidenoson in human skin cells, modeling psoriasis showed the destruction of the pathological skin cells.
CANF: Key Financials
On November 26, 2021, CANF released its consolidated financial statement for the third quarter and nine months of 2021 ended September 30, 2021. Some of the key highlights are mentioned below.
Revenue
Total revenue in the first nine months of 2021 was $0.65 million against $0.61 million for the comparable period in 2020. The company recorded an improvement of $0.04 million in its revenue YoY.
EPS
Basic and diluted net loss per share in the first nine months of 2021 was $8.4 million or $0.02 comparable to $10.8 million or $0.04 in the corresponding period of 2020. The company observed a considerable decline in its net loss YoY.
Conclusion
CANF stock is 39% and 23% declined over the past year and year-to-date respectively. The continuous drop of the stock is caused as a result of the pandemic. The current premarket stock drop is likely due to delayed results of Phase 3 trials of Piclidenoson. For the upcoming quarter, the analysts estimate the revenue of $266.6 thousand versus -$0.18 EPS.
