Can‑Fite BioPharma Ltd. (CANF) entered into a definitive agreement on March 4 2026 to immediately exercise a portion of its outstanding warrants, allowing the company to purchase up to 795,869 American Depositary Shares at a reduced exercise price of $5.00 per share, down from the original $9.34 per share issued in July 2025.
The exercise is expected to generate approximately $4 million in gross proceeds. In addition, the company will issue new unregistered warrants for up to 1,591,738 shares at the same $5.00 exercise price, exercisable for 24 months, providing future financing flexibility. H.C. Wainwright & Co. served as placement agent for the transaction.
Can‑Fite plans to deploy the proceeds to fund research and development, advance its Phase III clinical trials for Piclidenoson in psoriasis and Namodenoson in hepatocellular carcinoma, and support working capital and general corporate purposes. The company’s cash and equivalents stood at $6.45 million as of June 30 2025, a decline from $7.88 million at the end of 2024, and the company has historically relied on equity offerings to sustain its pipeline.
The company also approved a 1‑for‑3,000 reverse stock split, set to take effect early 2026 on the Tel‑Aviv Stock Exchange, which will consolidate its share structure. As of March 4 2026, Can‑Fite’s market capitalization was $6.24 million, reflecting an 84.6% decline over the past year.
The warrant exercise underscores Can‑Fite’s ongoing need for capital to support its late‑stage development program while maintaining liquidity in a cash‑burn environment. The transaction provides a modest infusion of cash that will help the company navigate the next milestones in its clinical pipeline without diluting existing shareholders beyond the new warrant issuance.
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