- Rafael Holdings reported a **net loss attributable to Rafael Holdings of $12.1 million, or $0.28 per share**, for the fourth quarter of fiscal year 2025, and a **net loss of $30.5 million, or $1.04 per share**, for the full fiscal year 2025.  **[1713863_0001213900-25-103509_ea026292601ex99-1_rafael.htm:0]** **[1713863_0001213900-25-103509_ea026292601ex99-1_rafael.htm:1]** 
- As of July 31, 2025, the company held **$52.8 million in cash and cash equivalents**, following the closing of a **$25 million rights offering** in June 2025.  **[1713863_0001213900-25-103509_ea026292601ex99-1_rafael.htm:0]** 
- **Research and development expenses significantly increased** to **$7.5 million** for the three months ended July 31, 2025, and **$12.8 million** for the twelve months ended July 31, 2025, primarily due to the consolidation of Cyclo Therapeutics, Cornerstone, and Day Three.  **[1713863_0001213900-25-103509_ea026292601ex99-1_rafael.htm:0]** **[1713863_0001213900-25-103509_ea026292601ex99-1_rafael.htm:1]** 
- The **TransportNPC™ Phase 3 clinical trial** for Trappsol® Cyclo™ is continuing at the recommendation of the Data Monitoring Committee.  **[1713863_0001213900-25-103509_ea026292601ex99-1_rafael.htm:0]** 
- **Joshua Fine was elected Chief Operating Officer** on August 4, 2025, and Alan Grayson was added to the Board of Directors, with Markus Sieger named Chair of the Audit Committee.  **[1713863_0001213900-25-103509_ea026292601ex99-1_rafael.htm:0]**

Rafael Holdings Reports Q4 and Full Year Fiscal 2025 Financial Results

- Rafael Holdings reported a **net loss attributable to Rafael Holdings of $12.1 million, or $0.28 per share**, for the fourth quarter ended July 31, 2025, and a **net loss of $30.5 million, or $1.04 per share**, for the full fiscal year 2025.  **[1713863_7857e872bebb477fa62a8196f8c5d0fb_0]** **[1713863_7857e872bebb477fa62a8196f8c5d0fb_1]** 
- As of July 31, 2025, the company had **$52.8 million** in cash and cash equivalents.  **[1713863_7857e872bebb477fa62a8196f8c5d0fb_0]** 
- The company closed a **$25 million** rights offering in June 2025, which included a **$21.0 million** backstop commitment from the Jonas family.  **[1713863_7857e872bebb477fa62a8196f8c5d0fb_0]** 
- The Cyclo Therapeutics’ TransportNPC™ Phase 3 clinical trial for Trappsol® Cyclo™ is continuing at the recommendation of the Data Monitoring Committee (DMC).  **[1713863_7857e872bebb477fa62a8196f8c5d0fb_0]**

Rafael Holdings Reports Q4 and FY 2025 Financial Results

- The Niemann-Pick disease type C market was valued at **USD 60 million** in 2024 and is projected to grow at a **CAGR of 14.8%** during the forecast period (2025–2034).  **[1713863_501cb75b9f7247c8bb85e322c29c77b1_0]** **[1713863_501cb75b9f7247c8bb85e322c29c77b1_4]** 
- **Rafael Holdings** completed a merger with **Cyclo Therapeutics** in **March 2025**, with Cyclo Therapeutics actively developing **Trappsol Cyclo**, a key emerging therapy for Niemann-Pick disease type C.  **[1713863_501cb75b9f7247c8bb85e322c29c77b1_0]** **[1713863_501cb75b9f7247c8bb85e322c29c77b1_3]** 
- The market's growth is driven by the emergence of novel therapies and rising prevalence, with approximately **1000** diagnosed prevalent cases in the 7MM in 2024.  **[1713863_501cb75b9f7247c8bb85e322c29c77b1_1]** **[1713863_501cb75b9f7247c8bb85e322c29c77b1_0]** 
- Recent regulatory milestones include the **FDA approval of MIPLYFFA** in September 2024 and a positive opinion for marketing authorization for **AQNEURSA** in July 2025 for NPC treatment.  **[1713863_501cb75b9f7247c8bb85e322c29c77b1_1]** **[1713863_501cb75b9f7247c8bb85e322c29c77b1_3]**

Rafael Holdings: Niemann-Pick Disease Type C Market Insights

- Rafael Holdings, Inc. (RFL) announced that an independent Data Monitoring Committee recommended the **continuation of its Trappsol® Cyclo Phase 3 clinical trial** for Niemann-Pick Disease Type C1 (NPC1) following an interim analysis in **June 2025**.  **[1713863_0001213900-25-097965_ea026090801ex99-1_rafael.htm:1]** **[1713863_0001213900-25-097965_ea026090801ex99-1_rafael.htm:2]**  The **final analysis is targeted for the first half of 2026**, with potential regulatory submissions to the FDA and EMA by the **end of 2026**.  **[1713863_0001213900-25-097965_ea026090801ex99-1_rafael.htm:2]** **[1713863_0001213900-25-097965_ea026090801ex99-1_rafael.htm:6]** 
- As of **April 30, 2025**, the company reported a **cash balance of approximately $62.8 million** and stated it has sufficient capital to fund through multiple value-creating milestones.  **[1713863_0001213900-25-097965_ea026090801ex99-1_rafael.htm:6]** 
- The global market for Niemann-Pick Disease is projected to exceed **$920 million by 2033**.  **[1713863_0001213900-25-097965_ea026090801ex99-1_rafael.htm:6]** 
- Rafael Holdings received **FDA approval in December 2024** for an all-in-one Endoscopic Carpal Tunnel Release system.  **[1713863_0001213900-25-097965_ea026090801ex99-1_rafael.htm:6]**

Rafael Holdings (RFL)