Can-Fite raises $4 million through warrant exercise agreement

Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE: CANF) announced it entered into an agreement for the immediate exercise of warrants to purchase 795,869 American Depositary Shares at a reduced exercise price of $5.00 per ADS, down from the original $9.34 exercise price.

The biotechnology company expects to receive approximately $4.0 million in gross proceeds from the warrant exercise, with closing anticipated on March 5, 2026, subject to customary closing conditions. H.C. Wainwright & Co. is serving as the exclusive placement agent for the offering.

Under the agreement, Can-Fite will issue new unregistered warrants to purchase up to 1,591,738 ADSs with an exercise price of $5.00 per ADS. These new warrants will be exercisable for 24 months from the effective date of a resale registration statement that the company has agreed to file with the Securities and Exchange Commission.

Can-Fite stated it intends to use the net proceeds to fund research and development, clinical trials, and general corporate purposes. The original warrants were issued in July 2025 and the ADSs are registered under an effective Form F-1 registration statement.

The Israel-based company is developing small-molecule drugs for oncological and inflammatory diseases. Its pipeline includes Piclidenoson, which reported results from a Phase III psoriasis trial, and Namodenoson, currently in Phase III trials for hepatocellular carcinoma and Phase IIb trials for MASH treatment.

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