Can-Fite Revenue FY22 Revenue Declines 4.7%, Here Is What You Need To Know

Can-Fite BioPharma Ltd. CANF CANF revenues for the year ended December 31, 2022 were $810,000, a decrease of $43,000, or 4.7%, compared to revenues of $853,000 during the twelve months ended December 31, 2021.

2022 Financial Highlights

  • Research and development expenses for the year ended December 31, 2022 were $7.76 million, a decrease of $2.09 million, or 21.2%, compared to $9.85 million for the year ended December 31, 2021.

  • General and administrative expenses were $3.14 million for the year ended December 31, 2022, a decrease of $0.70 million, or 18.2%, compared to $3.84 million for the same period in 2021.

  • Can-Fite's net loss for the year ended December 31, 2022 was $10.17 million compared with a net loss of $12.61 million for the same period in 2021. The decrease in net loss was primarily attributable to a decrease in research and development expenses and a decrease in general and administrative expenses.

  • As of December 31, 2022, Can-Fite had cash, cash equivalents, and short-term deposits of $7.97 million as compared to $18.90 million at December 31, 2021.

“With two phase III indications advancing through our pipeline, we look ahead to the potential commercialization of our small molecule drugs, Piclidenoson and Namodenoson,” stated Can-Fite CEO Dr. Pnina Fishman. “Namodenoson in particular is showing the potential for efficacy across several indications from liver disease to pancreatic cancer. We remain focused and committed to bringing our safe, oral drugs to patients with unmet needs.”

Benzinga's Cannabis Capital Conference Is Back

The most successful cannabis business event in the world, the Benzinga Cannabis Capital Conference, returns to Miami for its 16th edition. This is the place where DEALS GET DONE, where money is raised, M&A starts, and companies meet investors and key partners. Join us at the Fontainebleau Miami Beach Hotel in Florida on April 11-12. Don’t miss out. Secure your tickets now. Prices will surge very soon.

Photo by Louis Reed on Unsplash

Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: CannabisEarningsNewsMarketsPnina Fishmanpremium
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

The Top Cannabis Event In New Jersey

Join the Benzinga Cannabis Market Spotlight in New Jersey on June 17th! Grow your business, raise money and capitalize on the booming NJ recreational market. Don’t miss this must-attend event in New Brunswick. Secure your tickets now. Very few spots are left. Use the code "JAVIER20" for 20% off!