Can-Fite BioPharma Closes $1.5M Public Offering
Ticker: CANF · Form: 6-K · Filed: Jun 10, 2024 · CIK: 1536196
| Field | Detail |
|---|---|
| Company | Can-Fite Biopharma LTD. (CANF) |
| Form Type | 6-K |
| Filed Date | Jun 10, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: financing, public-offering, biotech
TL;DR
CFBI closed a $1.5M offering, cash for R&D and ops.
AI Summary
On June 10, 2024, Can-Fite BioPharma Ltd. announced the closing of its previously disclosed underwritten public offering. The offering resulted in gross proceeds of approximately $1.5 million before deducting underwriting discounts and commissions and other offering expenses. The company plans to use these net proceeds for general corporate purposes, including research and development activities and working capital.
Why It Matters
This capital infusion provides Can-Fite BioPharma with crucial funding to advance its research and development efforts, potentially leading to new therapeutic advancements.
Risk Assessment
Risk Level: medium — Biopharmaceutical companies often face high risks due to the inherent uncertainties in drug development and regulatory approval processes.
Key Numbers
- $1.5M — Gross Proceeds (From underwritten public offering closed on June 10, 2024.)
Key Players & Entities
- Can-Fite BioPharma Ltd. (company) — Registrant
- June 10, 2024 (date) — Closing date of public offering
- $1.5 million (dollar_amount) — Gross proceeds from public offering
FAQ
What was the total amount of gross proceeds from the public offering?
The total amount of gross proceeds from the underwritten public offering was approximately $1.5 million.
When did Can-Fite BioPharma Ltd. close its public offering?
Can-Fite BioPharma Ltd. closed its underwritten public offering on June 10, 2024.
What will Can-Fite BioPharma Ltd. use the net proceeds for?
The company intends to use the net proceeds for general corporate purposes, including research and development activities and working capital.
Are there any specific registration statements mentioned in the filing that incorporate this report?
Yes, the first paragraph of the press release attached to this Form 6-K is incorporated by reference into Can-Fite BioPharma's Registration Statements on Form S-8 (File Nos. 333-227753, 333-271384 and 333-278525) and Form F-3 (File Nos. 333-195124, 333-236064, 333-249063, 333-262055 and 333-276000).
What is the SIC code for Can-Fite BioPharma Ltd.?
The Standard Industrial Classification (SIC) code for Can-Fite BioPharma Ltd. is 2834, which corresponds to Pharmaceutical Preparations.
Filing Stats: 276 words · 1 min read · ~1 pages · Grade level 10.7 · Accepted 2024-06-10 07:05:22
Filing Documents
- ea0207556-6k_canfitebio.htm (6-K) — 11KB
- ea020755601ex99-1_canfitebio.htm (EX-99.1) — 14KB
- 0001213900-24-050960.txt ( ) — 26KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: June 10, 2024 By: /s/ Motti Farbstein Motti Farbstein Chief Executive Officer and Chief Financial Officer 2