Rafael Holdings, Inc. (NYSE: RFL) announced its financial results for the second quarter of fiscal year 2026, which ended on January 31, 2026. The company reported a net loss attributable to Rafael Holdings of $6.4 million, or $0.13 per share, compared to a net loss of $4.6 million, or $0.19 per share in the same period last year. This increase in net loss is primarily attributed to the consolidation of expenses from Cyclo Therapeutics following its acquisition in March 2025. The company's research and development expenses surged to $4.5 million for the quarter, up from $0.9 million in the prior year, reflecting the costs associated with the ongoing pivotal Phase 3 clinical trial of Trappsol® Cyclo™ for the treatment of Niemann-Pick Disease Type C1. General and administrative expenses decreased slightly to $2.3 million from $2.6 million year-over-year. As of January 31, 2026, Rafael Holdings had cash and cash equivalents of $37.8 million. The company remains optimistic about the progress of its clinical trials and is on track to report preliminary results in the third quarter of this calendar year.

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