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Raphael Pharmaceutical Inc Com (New) (RAPH0.00%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing highlights the company's focus on developing cannabinoid-based therapies, specifically for rheumatoid arthritis (RA) and asthma. Raphael Pharmaceutical has completed a proof-of-concept study for its RA product candidate in the U.S., with plans to further investigate its potential in autoimmune diseases.
The company reported a net loss of $1.519 million for the year, an increase from the $1.344 million loss in the previous year. Research and development expenses rose to $776,000 from $569,000, reflecting increased investment in product development.
General and administrative expenses decreased slightly to $733,000 from $763,000, primarily due to reduced professional services fees.
Raphael Pharmaceutical's cash and cash equivalents stood at $19,000 as of December 31, 2024, down from $230,000 the previous year. The company raised $321,000 through financing activities during the year.
The company acknowledges the need for additional funding to continue its operations and achieve its development goals. It plans to seek further capital to support its research and development efforts.
Raphael Pharmaceutical's product pipeline includes a focus on cannabinoid-based formulations for RA and asthma, with ongoing pre-clinical and clinical studies. The company aims to obtain regulatory approvals from the FDA and other agencies for its product candidates.
The filing also details various agreements, including a research agreement with Rambam Med-Tech Ltd. and an engagement agreement with Way of Life Cannabis Ltd. for the supply of CBD oil.
Raphael Pharmaceutical's management is focused on advancing its product candidates through clinical development and securing necessary regulatory approvals to commercialize its therapies.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Raphael Pharmaceutical Inc Com (New) annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.