---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-048570"
form_type: "8-K"
ticker: "RFL"
cik: "0001713863"
company_name: "Rafael Holdings, Inc."
filed_at: "2023-06-13T23:59:59+00:00"
generated_at: "2026-06-14T02:10:06.488931+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Rafael Holdings reports Q3 net loss of $1.5M; invests $2.1M in Cyclo Therapeutics

## Summary
- Net loss from continuing operations $1.5M ($0.06/sh) vs $5.0M ($0.25/sh) year ago.
- Cash, equivalents and marketable securities $82.4M as of April 30, 2023.
- Made initial $2.1M investment in Cyclo Therapeutics and agreement to invest additional $5M.
- R&D expenses fell to $0.7M from $1.4M on winding down early-stage programs.
- General and administrative expenses $2.3M for Q3, including $0.6M stock-based comp.

## SEC filing metadata
- accession: 0001213900-23-048570
- form_type: 8-K
- ticker: RFL
- cik: 0001713863
- company_name: Rafael Holdings, Inc.
- filed_at: 2023-06-13T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1713863/000121390023048570/0001213900-23-048570-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1713863/000121390023048570/ea180272-8k_rafaelhold.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-048570
- JSON: https://secwatch.observer/filing/0001213900-23-048570.json
- Plain text: https://secwatch.observer/filing/0001213900-23-048570.txt

## Key facts
- Earnings Releases
  Rafael Holdings, Inc. reported the third quarter of fiscal 2023 for the three months ended April 30, 2023 results: net income net loss from continuing operations of $1.5 million, or $0.06 per share, EPS $0.06 per share.
  - Period: the third quarter of fiscal 2023 for the three months ended April 30, 2023
  - Net income: net loss from continuing operations of $1.5 million, or $0.06 per share
  - EPS: $0.06 per share
  - Result: reported results
  source text: Rafael Holdings Reports Third Quarter Fiscal 2023 Financial Results and Provides Business Update
  evidence_url: https://www.sec.gov/Archives/edgar/data/1713863/000121390023048570/0001213900-23-048570-index.htm

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