Can-Fite Biopharma Ltd.: Can-Fite: up to $15.0M offering

Can-Fite Biopharma Ltd.: Can-Fite: up to $15.0M offering

July 02, 2025 — Can-Fite BioPharma Ltd. (NYSE American: CANF) has announced a public offering to raise up to $15.0 million in gross proceeds. The offering includes 8,333,333 American Depositary Shares (ADSs) at $0.60 per ADS, along with short-term warrants to purchase up to 16,666,666 ADSs [1]. The initial gross proceeds are expected to be $5.0 million, with potential additional proceeds of $10.0 million if all warrants are exercised. The warrants have an exercise price of $0.60 per ADS and will expire in 24 months. The offering is expected to close around July 29, 2025, with H.C. Wainwright & Co. acting as the exclusive placement agent [1].

Can-Fite BioPharma, a clinical-stage biotechnology company developing small molecule drugs for cancer and inflammatory diseases, plans to use the net proceeds for funding research and development, clinical trials, and other general corporate purposes [1]. The company's lead drug candidate, Piclidenoson, recently reported topline results in a Phase 3 trial for psoriasis and is currently in a pivotal Phase 3 trial. Additionally, Namodenoson, a liver drug, is being evaluated in several clinical trials, including a Phase III trial for hepatocellular carcinoma (HCC) [1].

The recent analyst ratings on Can-Fite BioPharma stock indicate a mixed outlook. While some analysts maintain a Buy rating with a $18.00 price target, others have expressed concerns about the company's financial challenges, negative profitability, and reliance on external financing [2]. Despite these challenges, Can-Fite BioPharma continues to focus on advancing its product pipeline and securing strategic partnerships.

References:
[1] https://www.stocktitan.net/news/CANF/can-fite-announces-up-to-15-0-million-public-8l4b4s6g4csn.html
[2] https://www.tipranks.com/news/company-announcements/can-fite-biopharma-announces-15-million-public-offering