Can‑Fite BioPharma Ltd. published a peer‑reviewed study in the International Journal of Obesity that demonstrates significant anti‑obesity effects of its orally bioavailable A3 adenosine receptor agonist, namodenoson, in a randomized, double‑blind, placebo‑controlled trial conducted in Ramat Gan, Israel.
The trial, which enrolled adult participants on a high‑fat diet, showed that namodenoson reduced weight gain and improved adipocyte biology. The study reported a favorable safety profile, with no serious adverse events attributable to the drug.
This publication provides the first independent confirmation of namodenoson's efficacy in weight management, expanding the drug’s therapeutic portfolio beyond its current development for liver cancer, MASH, and pancreatic cancer. The global obesity treatment market is projected to reach $60.5 billion by 2030, offering a substantial new revenue opportunity for the company.
Can‑Fite holds U.S. and Australian patents for the obesity indication and has received a Canadian patent allowance. The company’s pipeline includes a Phase III trial for advanced liver cancer and a Phase IIb study for MASH, which could accelerate the drug’s development for obesity given the existing safety data.
Despite the scientific milestone, the company’s financials remain challenging. Revenue has declined 41.5 % over three years, and operating and net margins are negative, with an Altman Z‑Score of –26.47. However, the company maintains strong liquidity, with a current ratio of 3.6 and a debt‑to‑equity ratio of 0.02, and has reported a net loss of $4.9 million in the first half of 2025, projecting a total net loss of $10 million for the year.
Pnina Fishman, Ph.D., Chairperson and Chief Scientific Officer, said, 'This publication provides the first evidence that namodenoson directly targets adipocyte biology and reduces weight gain in a high‑fat diet model. Importantly, the effect is mediated through well‑defined molecular pathways, including suppression of adipogenic transcription factors and induction of adiponectin. These findings support further evaluation of namodenoson as a potential oral treatment for obesity and related metabolic disorders.'
Analysts have expressed mixed views on the announcement, reflecting the company’s broader financial challenges and the competitive landscape of obesity therapeutics. The study’s validation of the drug’s mechanism and safety profile, however, is expected to strengthen investor confidence in the company’s pipeline.
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