Can-Fite Raises $4M Through Warrant Exercise, Namodenoson Hits Phase 2a Endpoint
Can-Fite raised $4.0 million as warrant holders exercised 795,869 ADS at a reduced $5.00 strike and received new warrants for 1,591,738 ADS exercisable over 24 months. Its drug Namodenoson met the primary endpoint in a Phase 2a pancreatic cancer trial, showing significant overall survival gains with a well-tolerated safety profile.
1. $4M Warrant Exercise and New Warrants
Can-Fite entered into a definitive agreement enabling warrant holders to immediately exercise 795,869 ADS at a reduced price of $5.00 per share, generating approximately $4.0 million gross proceeds. The company also issued unregistered warrants for 1,591,738 ADS at the same $5.00 strike, exercisable for 24 months under its resale registration statement.
2. Namodenoson Pancreatic Cancer Trial Success
Namodenoson met the primary endpoint in a Phase 2a trial for pretreated pancreatic cancer patients, demonstrating significant overall survival improvements and a well-tolerated safety profile. One third of patients remained alive at data cut-off, and survival follow-up will be presented at upcoming scientific meetings.
3. Funding Allocation and Pipeline Outlook
Can-Fite plans to allocate net proceeds to advance research and development, fund ongoing clinical trials, and support general corporate purposes. The company is also progressing Phase III trials in psoriasis and liver cancer, with topline efficacy data for the pancreatic study expected in Q3 2026 and additional indications under exploration.