---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-120691"
form_type: "8-K"
ticker: "RFL"
cik: "0001713863"
company_name: "Rafael Holdings, Inc."
filed_at: "2025-12-11T23:59:59+00:00"
generated_at: "2026-05-16T13:31:24.921127+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Rafael Holdings Q1 FY2026 net loss $9.8M; Phase 3 NPC trial continues

## Summary
- Net loss attributable to Rafael Holdings of $9.8M ($0.19/shr), widened from $9.0M ($0.37/shr) YoY.
- R&D expenses $7.5M vs $1.3M YoY, driven by Cyclo Therapeutics consolidation after March 2025 acquisition.
- Cash and cash equivalents $45.5M as of October 31, 2025.
- CEO Howard Jonas highlighted Phase 3 TransportNPC study for Trappsol Cyclo; DMC recommended continue after 48-week data.
- General & administrative expenses $2.8M vs $2.5M YoY, also due to Cyclo consolidation.

## SEC filing metadata
- accession: 0001213900-25-120691
- form_type: 8-K
- ticker: RFL
- cik: 0001713863
- company_name: Rafael Holdings, Inc.
- filed_at: 2025-12-11T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1713863/000121390025120691/0001213900-25-120691-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1713863/000121390025120691/ea0269127-8k_rafael.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-120691
- JSON: https://secwatch.observer/filing/0001213900-25-120691.json
- Plain text: https://secwatch.observer/filing/0001213900-25-120691.txt

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