Can-Fite BioPharma Ltd.
CANF evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for CANF—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · CANF
Can-Fite BioPharma Ltd. is an advanced clinical-stage biotechnology company developing small molecule orally bioavailable drugs for inflammatory, oncology, and liver diseases, with lead candidates piclidenoson and namodenoson in Phase 2/3 trials and no approved products or commercial sales to date.
Key risk: History of losses and need for capital
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Financial data as of Dec 31, 2025.
Tracking 2 clinical trials · 3 catalysts for Can-Fite BioPharma Ltd..
Can-Fite BioPharma Ltd. is an advanced clinical-stage biotechnology company developing small molecule orally bioavailable drugs for inflammatory, oncology, and liver diseases, with lead candidates piclidenoson and namodenoson in Phase 2/3 trials and no approved products or commercial sales to date.
- Cash and cash equivalents of $5.5 million and short-term deposits of $3.0 million as of December 31, 2025 [sec · filed 2026-03-26].
- Accumulated deficit of approximately $176.2 million as of December 31, 2025 [sec · filed 2026-03-26].
- Total revenue of $0.4 million for the year ended December 31, 2025, primarily from out-licensing agreements [sec · filed 2026-03-26].
- Lead product candidates: piclidenoson (Phase 3 COMFORT study in psoriasis) and namodenoson (Phase 2 LIVERATION study in hepatocellular carcinoma) [sec · filed 2026-03-26].
- No product candidates have been approved for sale or marketing, and there have been no commercial sales to date [sec · filed 2026-03-26].
What works
- The company has advanced multiple product candidates into clinical development, including a Phase 3 study for piclidenoson in psoriasis and a Phase 2 study for namodenoson in HCC [sec · filed 2026-03-26].
- Can-Fite's strategy focuses on small molecule orally bioavailable drugs, which may offer advantages in patient convenience and manufacturing efficiency [sec · filed 2026-03-26].
- Existing out-licensing agreements with partners such as Cipher, CKD, Gebro, and Ewopharma provide a source of revenue and validation of the company's technology [sec · filed 2026-03-26].
- The company has sufficient cash resources to meet its requirements for the next twelve months from the date of its Annual Report [sec · filed 2026-03-26].
What to weigh
- Can-Fite has incurred operating losses since inception and expects to continue incurring substantial losses for the foreseeable future, with an accumulated deficit of $176.2 million as of December 31, 2025 [sec · filed 2026-03-26].
- The company will need to raise additional capital to meet future business requirements, which may be costly or difficult to obtain and would dilute current shareholders [sec · filed 2026-03-26].
- None of the company's product candidates have been approved for sale or marketing, and there is no guarantee that clinical trials will be successful or lead to regulatory approval [sec · filed 2026-03-26].
- The company may not currently satisfy NYSE American continued listing requirements, and delisting could occur if requirements are not met [sec · filed 2026-03-26].
From the filings
Quoted directly from source documents.
Cash position and accumulated deficit as of December 31, 2025
“As of December 31, 2025, we had cash and cash equivalents of $5.5 million and short-term deposits of $3.0 million.”
SEC filings · March 26, 2026
Accumulated deficit
“As of December 31, 2025, we had an accumulated deficit of approximately $176.2 million.”
SEC filings · March 26, 2026
No approved products or commercial sales
“None of our product candidates have been approved for sale or marketing and, to date, there have been no commercial sales of any of our product candidates.”
SEC filings · March 26, 2026
Need for additional capital
“We will need to raise additional capital to meet our business requirements in the future, and such capital raising may be costly or difficult to obtain and will dilute current shareholders' ownership interests.”
SEC filings · March 26, 2026
Catalyst timeline
- 2026-09-30 · Phase2_Topline · namodenoson — Phase 2 Readout: namodenoson — Topline data from the Phase 2 study of namodenoson in hepatocellular carcinoma will be reported.
- 2026-09-30 · Phase2_Topline · piclidenoson — Phase 2 Readout: piclidenoson — Topline data from the Phase 2 study of piclidenoson will be reported.
- 2028-06-01 · Phase3_Topline — Phase 3 Topline: A Phase 3, Randomized, Double-Blind, Placebo-Controlled Study of the Efficacy and Safety of Daily Pi — Topline data from the Phase 3 study of piclidenoson in psoriasis are expected.
Risks & what to watch (4)›
Key risks
- History of losses and need for capital — Operating losses since inception; accumulated deficit of $176.2M; will need additional capital which may be costly or dilutive [sec · filed 2026-03-26].
- No approved products or commercial sales — None of the product candidates have been approved for sale or marketing; no commercial sales to date [sec · filed 2026-03-26].
- Clinical and regulatory uncertainty — Most product candidates never complete clinical development; no guarantee of regulatory approval for any candidate [sec · filed 2026-03-26].
- Potential NYSE American delisting — Company may not currently satisfy NYSE American continued listing requirements; delisting could occur [sec · filed 2026-03-26].
What to watch
- Interim analysis data from the Phase 3 COMFORT study of piclidenoson in psoriasis, expected in Q2 2027 [sec · filed 2026-03-26].
- Submission of the study protocol for Lowe syndrome to regulators, expected in Q2 2026 [sec · filed 2026-03-26].
- Topline data from the Phase 2 study of namodenoson in HCC, expected by September 30, 2026 [upcoming catalysts].
- Topline data from the Phase 2 study of piclidenoson, expected by September 30, 2026 [upcoming catalysts].
Sources: SEC filings · Generated August 26, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
No clinical pipeline tracked — this score reflects financial & catalyst signals only.
2.2 months
D/E 0.70 · 0% dilution
No tracked pipeline phase
No tracked pipeline candidates
3 upcoming, next in ~31d
No insider transactions in the last 180 days
Runway
Catalysts
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
12
Total value held
$322K
| Holder | Shares | Value |
|---|---|---|
| sabby management, llc | 42,559 | $132K |
| citadel advisors llc | 34,150 | $106K |
| rhumbline advisers | 20,908 | $65K |
| citigroup inc | 5,482 | $17K |
| osaic holdings, inc. | 450 | $1K |
| fifth third bancorp | 150 | $465 |
| wells fargo & company/mn | 125 | $388 |
| hrt financial lp | 19,383 | $60 |
| activest wealth management | 10 | $31 |
| morgan stanley | 1 | $3 |
Showing top 10 of 12 institutional holders of Can-Fite BioPharma Ltd.. Open the full 13F history after sign-in.
Short Interest
as of May 20, 2026- % of float
- 1.1%
- Days to cover
- 0.0
- Shares short
- 23,418
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
CANF short interestFrequently asked questions
What is the AI investment thesis for Can-Fite BioPharma Ltd.?
Can-Fite BioPharma Ltd. is an advanced clinical-stage biotechnology company developing small molecule orally bioavailable drugs for inflammatory, oncology, and liver diseases, with lead candidates piclidenoson and namodenoson in Phase 2/3 trials and no approved products or commercial sales to date.
What is Can-Fite BioPharma Ltd.'s next catalyst?
Can-Fite BioPharma Ltd.'s next tracked catalyst is a Phase2_Topline event — "Phase 2 Readout: namodenoson" — expected September 30, 2026.
Who is the CEO of Can-Fite BioPharma Ltd.?
Mr. Motti Farbstein is the chief executive officer of Can-Fite BioPharma Ltd. (CANF).
Where is Can-Fite BioPharma Ltd. headquartered?
Can-Fite BioPharma Ltd. (CANF) is headquartered in Ramat Gan, Israel.
What therapeutic areas does Can-Fite BioPharma Ltd. focus on?
Can-Fite BioPharma Ltd. develops therapies across Oncology, Immunology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.