Rafael Holdings Reports Q2 FY26 Financial Results: Net Loss of $6.4mln, Cash & Cash Equivalents of $37.8mln.

Rafael Holdings reported a Q2 FY26 net loss of $6.4 million, up from $4.6 million YoY, due to the consolidation of Cyclo Therapeutic's expenses after the March 2025 acquisition. The company had cash and cash equivalents of $37.8 million as of January 31, 2026. Research and development expenses increased to $4.5 million, and general and administrative expenses decreased to $2.3 million. Rafael Holdings is on track to complete a Phase 3 clinical trial for Trappsol Cyclo for Niemann-Pick Disease Type C1, with preliminary top-line results expected in Q3 2026.