Can-Fite BioPharma Announces Registered Direct Offering of 2.5 Million ADSs
Ramat Gan, Israel, April 14, 2025 – Can-Fite BioPharma Ltd. (Can-Fite or the Company), a biotechnology company specializing in the development of proprietary small-molecule drugs for oncological and inflammatory diseases, has made an important announcement. The Company has entered into definitive agreements for the purchase and sale of 2,500,000 of its American Depositary Shares (ADSs) in a registered direct offering.
Details of the Offering
The offering is priced at $1.20 per ADS, and it is expected to close on or about April 15, 2025, subject to the satisfaction of customary closing conditions. Can-Fite intends to use the net proceeds from this offering for general corporate purposes, including research and development expenses and working capital.
Impact on Can-Fite
This registered direct offering comes as a significant boost for Can-Fite, as it will provide the Company with additional funds to further its research and development efforts. With the biotech industry constantly evolving, having access to financial resources is crucial for companies like Can-Fite as they work to bring new treatments to market.
Impact on the World
The biotechnology sector plays a vital role in the global economy, contributing to advancements in healthcare, agriculture, and environmental sustainability. Can-Fite’s registered direct offering is not only an indication of the Company’s progress but also a testament to the sector’s resilience and continued growth. This offering could lead to the development of new therapeutic solutions for oncological and inflammatory diseases, potentially improving the lives of millions around the world.
Conclusion
Can-Fite BioPharma’s registered direct offering of 2.5 million ADSs is an exciting development for the Company and the biotechnology sector as a whole. The proceeds from this offering will enable Can-Fite to advance its research and development efforts, potentially leading to the creation of new treatments for oncological and inflammatory diseases. Furthermore, this offering underscores the importance of financial support in the biotech industry and the sector’s role in driving innovation and progress. As Can-Fite continues its journey to bring new therapies to patients, we can expect to see more developments that will shape the future of healthcare and the world.
- Can-Fite BioPharma announces registered direct offering of 2.5 million ADSs
- Proceeds will be used for general corporate purposes, including R&D expenses and working capital
- Offering is expected to close on or about April 15, 2025, subject to customary closing conditions
- Funds will support the Company’s ongoing efforts to develop new treatments for oncological and inflammatory diseases
- Boost for Can-Fite and the biotechnology sector as a whole
