---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-22-067682"
form_type: "8-K"
ticker: "RFL"
cik: "0001713863"
company_name: "Rafael Holdings, Inc."
filed_at: "2022-10-31T23:59:59+00:00"
generated_at: "2026-06-22T21:45:22.454728+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Rafael Holdings full-year net loss $122.8M on $114.2M impairment; Q4 loss narrows to $4.6M

## Summary
- Q4 net loss from continuing ops $4.6M ($0.24/share) vs $12.2M ($0.75) YoY; revenue $0.07M.
- Full-year net loss $122.8M ($6.22/share) includes $114.2M impairment of Cornerstone investment and receivables.
- Cash & marketable securities $63.2M at July 31, plus $33M net from real estate sale in Aug 2022.
- R&D expenses rose to $8.7M from $4.9M, reflecting early-stage pipeline spending.
- G&A held at $17.0M, includes $5.9M severance; prior year had $6.6M stock-based comp.

## SEC filing metadata
- accession: 0001213900-22-067682
- form_type: 8-K
- ticker: RFL
- cik: 0001713863
- company_name: Rafael Holdings, Inc.
- filed_at: 2022-10-31T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1713863/000121390022067682/0001213900-22-067682-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1713863/000121390022067682/ea167666-8k_rafaelhold.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-22-067682
- JSON: https://secwatch.observer/filing/0001213900-22-067682.json
- Plain text: https://secwatch.observer/filing/0001213900-22-067682.txt

## Key facts
- Earnings Releases
  Rafael Holdings, Inc. reported the three months ended July 31, 2022 results: revenue $0.07 million, net income $4.6 million, EPS $0.24 per share.
  - Period: the three months ended July 31, 2022
  - Revenue: $0.07 million
  - Net income: $4.6 million
  - EPS: $0.24 per share
  - Result: reported results
  source text: For the three months ended July 31, 2022, we incurred a net loss from continuing operations of $4.6 million, or $0.24 per share, which includes $1.2 million in non-cash stock-based compensation expense. For the same period in the prior year, we incurred a net loss from continuing operations of $12.2 million, or $0.75 per share, which included $5.6 million in non-cash stock-based compensation expense. Our revenues from continuing operations for the three months ended July 31, 2022, amounted to $0.07 million, compared to revenues of $0.19 million for the same period in the prior year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1713863/000121390022067682/0001213900-22-067682-index.htm
- Earnings Releases
  Rafael Holdings, Inc. reported the twelve months ended July 31, 2022 results: revenue $0.4 million, net income $122.8 million, EPS $6.22 per share.
  - Period: the twelve months ended July 31, 2022
  - Revenue: $0.4 million
  - Net income: $122.8 million
  - EPS: $6.22 per share
  - Result: reported results
  source text: For the twelve months ended July 31, 2022, we incurred a net loss from continuing operations of $122.8 million or $6.22 per share, w hich includes an impairment of cost method investment and losses from loans and receivables from Cornerstone Pharmaceuticals, Inc. (formerly Rafael Pharmaceuticals, Inc.) totaling $114.2 million. For the same period in the prior year, we incurred a net loss from continuing operations of $22.8 million, or $1.38 per share which included $6.6 million in non-cash stock-based compensation expense. Our revenues from continuing operations for the twelve months ended July 31, 2022, amounted to $0.4 million compared to $0.8 million in the same period in the prior year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1713863/000121390022067682/0001213900-22-067682-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.