Can-Fite BioPharma (CANF) Tops Q1 EPS by 63c, Revenues Miss

Can-Fite BioPharma (NYSE: CANF) reported Q1 EPS of ($0.03), $0.63 better than the analyst estimate of ($0.66). Revenue for the quarter came in at $200 thousand versus the consensus estimate of $1.18 million.

• Achieved efficacy and safety endpoints in Phase II NASH trial, with all cases of NASH significantly resolved after 12 weeks of treatment with 25 mg Namodenoson
• Pre-IND filed with FDA for clinical study of Piclidenoson in treatment of COVID-19
• Interim results from Phase III Piclidenoson trial for psoriasis and rheumatoid arthritis expected Q4 2020

“Namodenoson’s Phase II safety and efficacy results in NASH and NAFLD is a significant milestone for our company, and for the medical community seeking a safe and effective treatment for the rapidly growing number of patients diagnosed with fatty liver diseases. The fact that Namodenoson was able to not only reverse, but also resolve NASH in the Phase II NASH patients treated with 25 mg of Namodenoson is very compelling data as we move forward. With recently issued patents for Namodenoson in this indication, we are planning our next advanced stage clinical trial in NASH/NAFLD,” stated Can-Fite CEO Pnina Fishman. “For Namodenoson we are also preparing a Phase III study protocol in the treatment of HCC. Piclidenoson is on track for interim Phase III results in rheumatoid arthritis and psoriasis, as well as a potential treatment for COVID-19. Can-Fite has a robust clinical pipeline with significant opportunities for our drugs in multiple indications.”

“I am happy to report that our operations have not been materially impacted by the COVID-19 outbreak to date. Our ongoing clinical trials and clinical trial preparation work remain on track. We have implemented remote working and workplace protocols for our employees in accordance with Israel Health Ministry guidelines and we continue to closely evaluate the pandemic as it unfolds,” added Dr. Fishman.

For earnings history and earnings-related data on Can-Fite BioPharma (CANF) click here.

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