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.”

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