Rafael Holdings Inc
rafaelholdings.comWhat Do They Do?
Develops Trappsol® Cyclo™ and other drug candidates for patients, orthopedic instruments for clinicians, and manufacturing services for third-party manufacturers.
10-K for FY2025, filed Oct 29, 2025Rafael Holdings, Inc. (“Rafael Holdings”, “Rafael”, “we” or the “Company”) is a biotechnology company that develops pharmaceuticals and…View ↗
In May 2021, we formed Rafael Medical Devices, an orthopedic-focused medical device company developing instruments to advance minimally…View ↗
In April 2023, we first invested in Day Three, a company which empowers third-party manufacturers to reimagine their existing product…View ↗
How Do They Make Money?
Earns revenue from Day Three’s manufacturing services as work is performed, generally within a 30-day period, and from office and parking leases, with rent spread across lease terms.
10-K for FY2025, filed Oct 29, 2025The Company’s Infusion Technology revenue is derived from Day Three’s Unlokt technology which is recognized in accordance with ASC 606. Day…View ↗
As an owner and operator of real estate, the Company derives rental revenue from leasing office and parking space to tenants at its…View ↗
Contractual rental revenue is reported on a straight-line basis over the terms of the respective leases. Accrued rental income, included…View ↗
$917K
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10-K for FY2025, filed Oct 29, 2025
$917K ↗
Who Are Their Customers?
Customers include manufacturers that use Day Three’s production services at their facilities, tenants leasing office and parking space, and buyers of Cyclo’s cyclodextrins and related products in pharmaceutical, nutritional, and other industries.
10-K for FY2025, filed Oct 29, 2025Cyclo also continues to operate its legacy fine chemical business, consisting of the sale of cyclodextrins and related products to the…View ↗
The Company’s Infusion Technology revenue is derived from Day Three’s Unlokt technology which is recognized in accordance with ASC 606. Day…View ↗
As an owner and operator of real estate, the Company derives rental revenue from leasing office and parking space to tenants at its…View ↗
10-K for FY2025, filed Oct 29, 2025
Do Revenues Turn Into Profits?
No. It lost $30.5M in FY2025.
10-K for FY2025, filed Oct 29, 2025
−$29.2MView ↗
10-K for FY2025, filed Oct 29, 2025
−$30.5MView ↗
10-K for FY2025, filed Oct 29, 2025
−$18.9MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q3 FY2026, filed Jun 11, 2026
−$4.2MView ↗
- ▼ −12% (Loss)
- vs −$4.8M in Q3 FY2025
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Apr 22, 2026
Cyclo licenses MIT patent for Alzheimer’s disease research
The exclusive license covers cyclodextrin use in patients with Alzheimer’s disease who carry an ApoE4 genetic mutation.
Sources
8-K, filed Apr 22, 2026
NEWARK, NJ – April 22, 2026 (GLOBE NEWSWIRE) - Rafael Holdings, Inc. (NYSE: RFL) today announced that its subsidiary, Cyclo Therapeutics…View ↗
Growing. Revenue grew 14% in 4 years, from $802K in FY2021 to $917K in FY2025, about 3% a year.
Focus shifts to Trappsol Cyclo
The company shifts its main emphasis from investing in cancer drug development to developing Trappsol® Cyclo™ for Niemann-Pick disease, which the latest report identifies as its primary focus.
10-K for FY2022, filed Oct 31, 2022 10-K for FY2025, filed Oct 29, 2025Rafael Holdings, Inc. (NYSE:RFL), (“Rafael Holdings”, “we” or the “Company”), a Delaware corporation, is a holding company with interests…View ↗
Rafael Holdings, Inc. (“Rafael Holdings”, “Rafael”, “we” or the “Company”) is a biotechnology company that develops pharmaceuticals and…View ↗
Barer’s research is curtailed
Barer moves from an active preclinical cancer research operation to a substantially curtailed entity expected mainly to hold interests in cancer-focused opportunities.
10-K for FY2022, filed Oct 31, 2022 10-K for FY2025, filed Oct 29, 2025In 2019, the Company established Barer, as an early-stage small molecule research operation focused on developing a pipeline of novel…View ↗
In 2019, we established Barer, originally as a preclinical cancer metabolism research operation, to focus on developing a pipeline of novel…View ↗
Manufacturer services added
The portfolio adds manufacturer-focused technology services through Day Three, whereas the older business description centered on pharmaceutical companies and medical devices.
10-K for FY2022, filed Oct 31, 2022 10-K for FY2025, filed Oct 29, 2025Rafael Holdings, Inc. (NYSE:RFL), (“Rafael Holdings”, “we” or the “Company”), a Delaware corporation, is a holding company with interests…View ↗
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