Rafael Holdings Q4 net loss narrows on lower costs
RFL•Rafael Holdings' fiscal fourth-quarter net loss narrowed year over year as administrative expenses fell, while revenue declined. Net loss attributable to the company was $9.20 million and operating income was negative $9.73 million.
1. Quarterly results
Rafael Holdings' fiscal fourth-quarter net loss narrowed year over year, helped by lower administrative expenses, while revenue declined. Research and development expenses were flat year over year. Net loss attributable to the company was $9.20 million, and operating income was negative $9.73 million.
2. Expense drivers
The company cited lower payroll, stock-based compensation and professional fees as factors in reduced administrative expenses. Gains from settlements of accounts payable and convertible notes payable contributed to a lower annual net loss.
3. Voucher request
The company has requested a rare pediatric disease priority review voucher with its new drug application submission.
