Why Can-Fite BioPharma Ltd (CANF) stock turnaround in the after-hours on Friday?

Can-Fite BioPharma Ltd. (CANF) shares surged 5.37% in after-hours on Friday, October 8, 2021, and closed the weekly trading at $1.57. In the regular trading session of Friday, CANF’s stock lost 2.61%. CANF shares have fallen 15.82% over the last 12 months, and they have moved down 9.15% in the past week. Over the past three months, the stock has lost 33.78%, while over the past six months, it has declined 35.22%.

Let’s see what’s going on with the company in the recent past?

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CANF upcoming events

Can-Fite BioPharma Ltd. (CANF) will participate at the H.C. Wainwright 5th Annual NASH Investor Conference at 9:30 am ET on Tuesday, October 12, 2021. The company will be presented by the CEO, Pnina Fishman during the event.

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The company will also participate virtually at BIO-Europe 2021 event which is scheduled for October 25 – 29, 2021.

CANF participation in the recent conferences

Can-Fite BioPharma Ltd. (CANF) recently participated at Therapeutics Area Partnership (TAP), TAP Diabetes 2021, which was held on October 5-7, 2021.

CANF also participated at the Benzinga Healthcare Small-Cap Conference which was held on September 29, 2021. The company was presented by CEO Dr Pnina Fishman during the conference.

The company also took part in BioPharm America 2021, a virtual conference, which was held on September 20 – 23, 2021.

CANF Phase III Psoriasis Study

On September 02, 2021, Can-Fite BioPharma Ltd. (CANF) completed enrollment of all patients planned for its Phase III Comfort™ study in patients with moderate to severe plaque psoriasis.

In October 2020, the company released the positive interim data analysis from this Phase III study and the Independent Data Monitoring Committee (IDMC) conducted a pre-planned interim analysis of 200 patients’ data and based on the positive data, recommended to continue the study. The topline results are expected in Q1 2022.

CANF recent financial results

On August 26, 2021, Can-Fite BioPharma Ltd. (CANF) announced financial results for the quarter that ended June 30, 2021.

Six months financial highlights

  • CANF reported revenue of $0.39 million for the first six months of 2021 compared to $0.40 million during the six months ended June 30, 2020.
  • In the first six months of 2021, general and administrative expenses were$1.89 million compared to $1.45 million for the same period in 2020.
  • Research and development expenses for the six months ended June 30, 2021, were $3.81 million compared with $7.05 million for the same period in 2020.
  • It suffered a net loss of $5.09 million in the first half of 2021 compared to a net loss of $8.3 million in the same period of 2020.
  • The company ended the quarter with cash, cash equivalents and short-term deposits of $7.53 million as compared to $8.26 million on December 31, 2020.

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Well, as of this writing, there is no recent developments which could be linked with its mixed performance on Friday. we can expect it to perform well in the coming trading sessions as well.

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