PRF Technologies reports 2025 acquisitions, $4.8 million loss

PRF Technologies Ltd. (NASDAQ: PRFX) reported a net loss of $4.8 million for 2025, compared to a $14.6 million loss in 2024, according to its annual filing with the Securities and Exchange Commission.

The Tel Aviv-based company completed two strategic acquisitions during 2025. In March, PRF acquired DeepSolar, an AI-driven solar analytics platform. In August, the company made a majority investment in Boston-based LayerBio, which develops the OcuRing-K ocular therapy system.

OcuRing-K is designed as a sustained-release intraocular ring that delivers ketorolac during cataract surgery to reduce post-surgical eye drop requirements. The company conducted tests and validations required for an Investigational New Drug application for a Phase II study of OcuRing-K in 2025. Preclinical studies and Phase I clinical evaluation showed no treatment-related serious adverse events, PRF reported in January 2026.

DeepSolar secured commercial agreements during 2025, including a pilot with Econergy at a 92 MW photovoltaic plant in Romania that advanced to a commercial customer agreement. In February 2026, Shikun & Binui Energy selected DeepSolar under a Software-as-a-Service agreement for a 71 MW solar site in Romania. The company also entered a commercial due diligence engagement with EDF Power Solutions Israel.

PRF filed its first patent application related to DeepSolar in January 2026, covering solar plant micro-climate forecast modeling technology.

Research and development expenses decreased to $1.1 million in 2025 from $11.7 million in 2024, primarily due to reduced clinical trial costs. General and administrative expenses remained at $3.0 million for both years.

The company ended 2025 with $4.1 million in cash, cash equivalents, short-term deposits and restricted cash, and positive working capital of $1.9 million. PRF completed at-the-market stock issuances that generated $4.0 million in gross proceeds during 2025.

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