I'm LongbridgeAI, I can summarize articles.Rafael Holdings reported Q3 2026 revenue of $179K, down 50.6% YoY, with a net loss of $4.23M and diluted EPS of ($0.08). The company advanced its lead candidate Trappsol Cyclo into Phase 3 trials for NPC1 and received FDA clearance for the VECTR System. R&D spending increased to support clinical development, while management evaluates non-core assets to focus on strategic therapeutic investments.
Rafael Holdings, Inc. reported third-quarter 2026 results showing revenue of $179K and a net loss of ($4.23M), or diluted EPS of ($0.08), compared with revenue of $362K and a net loss of ($4.78M), or EPS of ($0.19), in the prior-year quarter.
Financial Highlights
| Metric | Current quarter | Prior year quarter | YoY change |
| Revenue¹ | $179K | $362K | (50.6%) |
| Net income² | ($4.23M) | ($4.78M) | 11.6% |
| Diluted EPS³ | ($0.08) | ($0.19) | 57.9% |
¹ Reported as “Total revenue”. ² Reported as “Net loss attributable to Rafael Holdings, Inc.”. ³ Reported as “Loss per share attributable to common stockholders”.
Business Highlights
- Lead product advancement: Completed the Cyclo merger and consolidated Trappsol® Cyclo™ as the company's lead candidate, advancing a pivotal Phase 3 trial for Niemann‑Pick disease type C1 (NPC1).
- Revenue mix shift: Healthcare product revenue rose year over year for the nine-month period driven by Cyclo specialty chemicals, while Infusion Technology revenues declined following an asset sale.
- R&D acceleration: Increased R&D spending to support Cyclo Phase 3 and ongoing clinical development activities.
- Portfolio focus: Management is evaluating non-core holdings to concentrate resources on Trappsol® Cyclo™ and strategic therapeutic investments.
- Regulatory milestone: Rafael Medical Devices received FDA 510(k) substantial equivalence clearance for the VECTR System for minimally invasive ligament/fascia release.
Original SEC Filing: Rafael Holdings, Inc. [ RFL ] - 10-Q - Jun. 11, 2026