PainReform reduces losses, completes LayerBio investment

PainReform Ltd. (NASDAQ: PRFX) reported a net loss of $2.3 million for the six months ended June 30, 2025, compared to $12.8 million in the prior-year period, according to a business update released by the company.

The Tel Aviv-based specialty pharmaceutical company completed a majority investment in LayerBio, Inc. in August 2025, acquiring the OcuRing-K platform, a sustained-release intraocular ring that delivers Ketorolac for pain and inflammation control following cataract surgery. The company stated the therapy targets a global market of approximately $9 billion.

Research and development expenses decreased to $0.3 million from $11.4 million in the prior-year period, primarily due to completion of the Phase 3 clinical trial for PRF-110 in 2024. General and administrative expenses increased to $1.9 million from $1.5 million, mainly due to higher legal costs and share-based compensation expenses.

PainReform's DeepSolar division completed development of the MyDeepSolar consumer app for residential solar efficiency optimization and was accepted into the NVIDIA Connect Program in August 2025. The company completed a 92MW pilot project with Econergy Renewable Energy in Romania, which advanced into its first commercial customer agreement.

The company maintained $3.5 million in cash and cash equivalents as of June 30, 2025, and reported positive working capital of $1.5 million. Financial income decreased to $52,000 from $92,000 in the prior-year period, primarily due to lower cash balances.

PainReform's PRF-110 did not meet its primary endpoint in a Phase 3 bunionectomy trial, though the company reported the treatment demonstrated efficacy during the first 48 hours post-surgery. The company continues research and development work on the program.

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