LinkedIn
WebsiteIntroduction
RAFAEL HOLDINGS INC (NYSE: RFL) is a clinical-stage biotechnology company that also invests in a portfolio of commercial real estate and research-driven oncology therapeutics. The company focuses on the development of treatments for diseases that are difficult to treat and has interests in a range of subsidiaries, from early-stage pharmaceutical ventures to medical device operations. As of September 18, 2025, the company’s stock, trading under the ticker RFL, is priced at $1.6378 per share.
Corporate Structure and Experience
While specific employee count details are not disclosed, RAFAEL HOLDINGS INC leverages leadership with industry expertise. Howard S. Jonas serves as Chairman of the Board, with experience in founding and guiding technology and energy companies. The board includes professionals such as Stephen Greenberg, who has a background in telecommunications and nonprofit leadership, and Dr. Boris C. Pasche, a physician-scientist specializing in oncology.
Key subsidiaries and interests include:
- Cyclo Therapeutics, LLC (100% interest), developer of Trappsol® Cyclo™ for Niemann-Pick Disease Type C1
- LipoMedix Pharmaceuticals Ltd. (majority interest), a clinical-stage pharmaceutical company
- Barer Institute Inc. (wholly owned), a preclinical cancer metabolism research operation
- Cornerstone Pharmaceuticals, Inc. (majority interest), focused on cancer metabolism therapeutics
- Rafael Medical Devices, LLC (majority interest), specializing in minimally invasive surgical instruments
- Day Three Labs, Inc. (majority interest), providing technology for precision cannabis products
The company’s balance sheet is categorized as liquid, which supports both its research initiatives and real estate investments.
Biotechnology by Sangharsh Lohakare
Recent Developments and News
- Merger with Cyclo Therapeutics: On March 26, 2025, RAFAEL HOLDINGS INC completed its merger with Cyclo Therapeutics, Inc. In the transaction, Cyclo shareholders received Class B common stock representing about 22% of the combined company, and select warrant holders received warrants for Rafael Class B shares. The company has identified Trappsol® Cyclo™ as its lead clinical asset and is anticipating the TransportNPC™ 48-week interim analysis scheduled for mid-2025.
- SEC Filings:
- June 26, 2025: Filed Form S-8 registering 774,375 shares of Class B common stock for employee benefit plans under the 2021 Equity Incentive Plans.
- July 18, 2025: Submitted an 8-K disclosing departures or appointments of certain officers and amendments to corporate bylaws.
- August 7, 2025: Filed an 8-K under items 5.02 and 9.01, detailing leadership changes and related disclosures.
Financial and Strategic Analysis
RAFAEL HOLDINGS INC recorded a 16.16% increase in its share price on September 18, 2025, reaching $1.6378 with a trading volume of 182,477 shares on the NYSE. Although detailed revenue and profitability metrics are not publicly summarized in recent SEC filings, the company’s strategic emphasis remains on:
- Advancing Clinical-Stage Assets: Through the Cyclo merger, the pipeline includes multiple trials of Trappsol® Cyclo™ for Niemann-Pick Disease Type C1 and a Phase 2b Alzheimer’s study.
- Portfolio Diversification: Investments in commercial real estate aim to generate stable income streams that may offset the capital-intensive nature of biotechnology research and development.
- Employee Alignment: The registration of equity awards under the 2021 plans supports talent retention and aligns stakeholder interests.
Future quarterly reports and interim clinical results will provide additional insights into revenue trajectories and research and development spending.
Market Position and Industry Context
RAFAEL HOLDINGS INC operates within both the biotechnology and real estate investment sectors. Its focus on rare diseases and oncology places it among firms targeting high unmet medical needs. The orphan-drug status of Trappsol® Cyclo™ offers potential market exclusivity advantages in the U.S. and Europe. Within the broader industry, the company faces competition from other clinical-stage organizations seeking advancements in genetic and oncology therapeutics. Its dual approach—pairing real estate assets with a liquid balance sheet—marks a distinction from pure-play biotech peers.
tl;dr
RAFAEL HOLDINGS INC completed its merger with Cyclo Therapeutics on March 26, 2025, issuing shares and warrants that position Trappsol® Cyclo™ as the lead clinical asset. The company registered 774,375 equity awards for employees under Form S-8 on June 26, 2025, and disclosed leadership and bylaw updates in 8-K filings on July 18 and August 7, 2025. As of September 18, 2025, the stock trades at $1.6378 (+16.16%), with a TransportNPC™ interim analysis expected in mid-2025.
