Stock News Buzz: Rafael Holdings (NYSE American: RFL)

Rafael Holdings (NYSE American: RFL) changed -8.27% to recent value of $16.96. The stock transacted 137913 shares during most recent day however it has an average volume of 29.05K shares. It spotted trading -10.03% off 52-week high price. On the other end, the stock has been noted 456.07% away from the low price over the last 52-weeks.

Rafael Holdings (NYSE American: RFL) announced that it has purchased a majority stake in Rafael Pharmaceuticals, (Rafael Pharma).  Rafael Pharma is a clinical stage, metabolic oncology-therapeutics company developing innovative, highly selective and well tolerated anti-cancer agents.

Building on its prior investments, Rafael Holdings further exercised its warrant and converted other interests.  The total investment to date from Rafael Holdings in Rafael Pharma securities, inclusive of cash, debt instruments, conversion of notes and contributions from minority beneficial holders, has increased to $66.7 million. The Company and its subsidiaries now hold 51.0% of the outstanding stock of Rafael Pharma. (Exclusive of minority beneficial holders’ interests, Rafael Holdings now holds 38.7% of the outstanding equity in Rafael Pharma).

Howard Jonas, Chairman and CEO of Rafael Holdings, said, “We continue to invest in Rafael Pharma to support the promising clinical development of its lead drug, devimistat (CPI-613®), as well as other Rafael Pharma agents now in pre-clinical development that have been discovered from its Altered Metabolism Directed platform.  As the two companies further align, we strengthen our capacity to leverage their complementary attributes for mutual benefit.”

“We very much appreciate the continuing investment by Rafael Holdings,” said Sanjeev Luther, President and Chief Executive Officer of Rafael Pharmaceuticals. “With this support, we believe we are well positioned to advance our clinical program and products in our development pipeline including two recently initiated, pivotal phase III studies of our lead drug, devimistat (CPI-613®) for patients battling metastatic pancreatic cancer and relapsed AML.”

 RFL has  an operating margin of -88.80% while its profit margin remained -63.80% for the last 12 months.  The company has 10.94M of outstanding shares and 9.57M shares were floated in the market. According to the most recent quarter its current ratio was 46.1 that represents company’s ability to meet its current financial obligations. The price moved ahead of 61.44% from the mean of 20 days, 82.65% from mean of 50 days SMA and performed 92.09% from mean of 200 days price. Company’s performance for the week was 30.27%, 113.33% for month and YTD performance remained 113.87%.

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