Can-Fite ended 2025 with revenues of $0.41 million, a 40% decline from 2024, research and development expenses up 16.3% to $6.69 million and general and administrative expenses up 20.2% to $3.66 million. Net loss widened to $9.83 million, while cash, equivalents and short-term deposits rose to $8.54 million following $4.3 million in warrant exercises.

The Phase 2a trial in heavily pretreated pancreatic cancer patients met its primary safety endpoint, with more than 30% of participants alive at the most recent data cut-off. The study continues to monitor overall survival as data mature, supporting Namodenoson’s safety profile in this indication.

A patient with advanced hepatocellular carcinoma treated under compassionate use has achieved a complete response and remains cancer-free after more than nine years of Namodenoson therapy. Namodenoson is advancing to Phase 3 in HCC with FDA Orphan Drug and Fast Track designations, underscoring its potential as a novel liver oncology therapy.

Can-Fite observed complete resolution of esophageal varices in a decompensated cirrhosis patient, suggesting disease-modifying potential and support as a bridge to liver transplant. The company is also exploring Namodenoson in metabolic and obesity indications and has secured multiple patent allowances in Israel, Canada and Brazil.