---
title: "Rafael Holdings reports Q3 FY2026 net loss of $4.2M; cash $30.5M; NDA expected H2 2026"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/289461745.md"
description: "Rafael Holdings reported a Q3 FY2026 net loss of $4.2 million ($0.08/share) with $30.5M in cash and $0.18M revenue. R&D expenses were $4.9M. The pivotal Phase 3 TransportNPC trial for Niemann-Pick Disease Type C1 reached last patient last visit. Management expects to submit a New Drug Application (NDA) in H2 2026 following a pre-NDA meeting with the FDA, aiming to transition into a commercial-stage biotechnology company."
datetime: "2026-06-11T12:03:02.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/289461745.md)
  - [en](https://longbridge.com/en/news/289461745.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/289461745.md)
---

# Rafael Holdings reports Q3 FY2026 net loss of $4.2M; cash $30.5M; NDA expected H2 2026

Rafael Holdings reported third quarter fiscal 2026 results for the period ended April 30, 2026, recording a net loss attributable to the company of $4.2 million, or $0.08 per share, and holding $30.5 million in cash and cash equivalents. Revenue for the quarter was $0.18 million and research and development expenses totaled $4.9 million. Management said the pivotal Phase 3 TransportNPC trial reached last patient last visit and they expect to submit an NDA in the second half of calendar 2026.

**Financial Highlights**

-   Cash and cash equivalents: $30.5 million as of April 30, 2026.
-   Quarterly revenue: $0.18 million for the three months ended April 30, 2026 (total revenue $179 thousand).
-   Net loss attributable to Rafael Holdings: $4.2 million, or $0.08 per share, for the three months ended April 30, 2026.
-   Year-to-date net loss attributable to Rafael Holdings: $20.5 million, or $0.40 per share, for the nine months ended April 30, 2026.
-   Research and development expense: $4.9 million for the quarter and $16.9 million for the nine months ended April 30, 2026.

**Business Highlights**

-   Pivotal Phase 3 TransportNPC trial reached last patient last visit, advancing clinical understanding of Niemann-Pick Disease Type C1 (NPC1).
-   Management reported a pre-NDA meeting with the FDA and expects to submit a New Drug Application in the second half of calendar 2026, signaling an expedited regulatory path.
-   Acquisition of Cyclo Therapeutics (March 2025) continues to impact operations and expense consolidation, reflected in higher R&D spend and inclusion of Cyclo expenses.
-   Company strategy focused on transitioning into a commercial-stage biotechnology company with lead candidate Trappsol Cyclo being the subject of the ongoing pivotal trial.

Original SEC Filing: Rafael Holdings, Inc. \[ RFL \] - 8-K - Jun. 11, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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