Can-Fite prices $15 million public offering with institutional investor

Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE: CANF) announced the pricing of a public offering with a single institutional investor for $5 million upfront, with potential additional proceeds of up to $10 million if warrants are exercised.

The Israeli clinical-stage biotechnology company will issue 8,333,333 American Depositary Shares at $0.60 per share, along with short-term warrants to purchase up to 16,666,666 additional ADSs at the same exercise price. The warrants are exercisable upon issuance and expire 24 months from the date of issuance.

H.C. Wainwright & Co. is serving as the exclusive placement agent for the offering, which is expected to close on July 29, 2025, subject to customary closing conditions.

Can-Fite stated it intends to use the net proceeds for funding research and development, clinical trials, and general corporate purposes. The company noted that no assurance can be given that the short-term warrants will be exercised.

The securities are being offered under a registration statement on Form F-1 that was declared effective by the Securities and Exchange Commission on July 28, 2025.

Can-Fite develops small molecule drugs for cancer and inflammatory diseases. The company's pipeline includes Piclidenoson, which recently reported results from a Phase 3 psoriasis trial, and Namodenoson, currently in Phase 3 trials for hepatocellular carcinoma and Phase 2b trials for MASH treatment.

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