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Here’s why Can-Fite BioPharma Ltd. (CANF) Stock Inclining in Regular Trading

Can-Fite BioPharma Ltd. (CANF) is an innovative clinical-stage biotechnology company. The company produces drugs used in the treatment of cancer, liver, and other inflammatory diseases. CANF leading candidate is Piclidenoson, which is under Phase 3 clinical trial for psoriasis treatment. Another lead product candidate is Namodenoson, which is in Phase 3 trials for the treatment of hepatocellular carcinoma or liver cancer. Namodenoson is also in Phase 2 trials for non-alcoholic steatohepatitis treatment.

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The price of CANF Stock at last check in the regular trading on December 29, 2021, was $1.38 with a remarkable incline of 9.92%.

CANF: Events and Happenings

On December 29, 2021, CANF reported that it filed patent applications based on the findings that post-treatment with Namodenoson, HCC was free of all tumor lesions. On December 20, 2021, CANF reported about agreement to exercise certain warrants for the acquisition of the sum of 150,000,000 ordinary shares presented by 5,000,000 American Depositary Shares at the price of $2.00 per share.

On December 07, 2021, CANF informed about the completion of a four-month treatment with Piclidenoson to the final patient enrolled for Phase 3 Comfort trials. The process will be completed at the beginning of January 2022 and it is the primary endpoint of the study. CANF expects to report topline results during Q1 2022.

CANF: Key Financials

On November 26, 2021, CANF reported financial results for the third quarter ended September 30, 2021. Some of the important highlights are as follows

Revenue

Revenue collected for the third quarter of 2021 was $0.65 million as compared to the same period of 2020 when it was $0.61 million.

Net Loss per Share

Basic and diluted net loss per share was reported to be $8.4 million or $0.02 per share for Q3 2021, as compared to the same period of 2020 when the net loss was $10.8 million or $0.04 per share.

Total Current Assets

Total current assets of the company during Q3 2021 were $14.4 million.

On November 24, 2021, CANF reported that the top management of the company presented at the 5th Annual Virtual NASH Summit 2021 which will take held on November 29-December 2. On November 23, 2021, CANF reported that Vetbiolix, which is the veterinary development and commercialization partner of the company, had started a clinical study of Piclidenoson for treating osteoarthritis in dogs.

On November 12, 2021, CANF reported that the top management of the company presented at the 7th Annual H.C. Wainwright Conference on November 15.

Conclusion

The CANF stock is up 19% from the past month and the current break-through incline is due to the fact that the company had filed a patent application in lieu of solid tumor treatment. Several pipeline projects are also the source of interest for the investors, thus attracting potential multi-million-dollar investment in the company.

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