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CAN-FITE BIOPHARMA GAINS ANALYST "BUY" DISTINCTION AND SIGNS NEW DISTRIBUTION AGREEMENTS FOR ITS LEAD DRUG CANDIDATES

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CAN-FITE BIOPHARMA GAINS ANALYST "BUY" DISTINCTION AND SIGNS NEW DISTRIBUTION AGREEMENTS FOR ITS LEAD DRUG CANDIDATES

Can-Fite BioPharma Ltd. (NYSE: CANF) (TASE: CFBI), a biotechnology company advancing a pipeline of proprietary small molecule drugs that address inflammatory, cancer and liver diseases, announced the company's CEO Dr. Pnina Fishman will present at Benzinga's Global Small Cap Conference on May 13, 2021. Investors interested in viewing Can-Fite's presentation may register with free access for the two-day conference that takes place virtually May 13- 14, 2021 here: https://www.benzinga.com/events/small-cap/global/.

Can-Fite BioPharma Ltd. (NYSE: CANF) (TASE: CFBI), an advanced clinical-stage drug development company, has received a very positive "Buy" rating from the H.C. Wainwright & Co. rating system as it continues to sign new distribution agreements important to the long-term outlook of the company.

Among the observations made by H.C. Wainwright & Co., which employs a three-tier rating system for evaluating both the potential return and risks associated with owning common equity shares of rated firms were:

Can-Fite enrolled its first patient on March 5, in a randomized, double-blind, placebo-controlled Phase 2 study to evaluate twice-daily 2mg piclidenoson as a potential adjunct treatment to standard supportive care (SSC) versus placebo in patients hospitalized with moderate-to-severe COVID-19. We do not include applications of piclidenoson in this indication in our models but do believe positive results in COVID-19 have high-value potential.

Can-Fite has shown significant progress advancing piclidenoson and namodenoson, the company's novel, first-in-class, small molecule A3 adenosine receptor (A3AR) agonists, on multiple fronts. We look for top-line results 4Q 2021 from an ongoing Phase 3 study with piclidenoson, and the advancement of namodenoson into Phase 3 studies by year-end 2021, to be positive catalysts. We reiterate our Buy rating and $5 PT.

Can-Fite also announced that it has signed an exclusive distribution agreement with Switzerland-based Ewopharma for its lead drug candidate, piclidenoson and namodenoson. Piclidenoson, is currently in a Phase 3 trial for psoriasis and a Phase 2 study in the treatment of moderate COVID-19. Can-Fite's liver drug, namodenoson, is headed into a Phase 3 trial for hepatocellular carcinoma (HCC), the most common form of liver cancer, and successfully achieved its primary endpoint in a Phase 2 trial for the treatment of nonalcoholic steatohepatitis (NASH). directed as a treatment for liver diseases, such as hepatocellular carcinoma (HCC), the most common form of liver cancer, and non-alcoholic steatohepatitis (NASH).

Can-Fite has signed six distribution agreements for Piclidenoson and Namodenoson and has remaining potential milestone payments of up to approximately $130 million, in addition to double-digit royalties on net sales following regulatory approval. The company has collected over $20 million in non-dilutive upfront and milestone payments.

For more information visit: www.can-fite.com.

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