Raphael Pharmaceutical Reports $452,000 Net Loss for Six Months Ending June 30, 2026

Raphael Pharmaceutical Inc. reported its financial results for the six months ending June 30, 2026, revealing a net loss of $452,000, a decrease of 40% compared to a net loss of $751,000 during the same period in 2025. The company did not generate any revenue in either period. Research and development expenses fell to $77,000, down 64% from $213,000 in the prior year, primarily due to reduced costs associated with Chief Technology Officer services and a research agreement with Rambam. General and administrative expenses also decreased by 35% to $345,000 from $527,000, reflecting lower professional service costs.

In terms of operational metrics, Raphael Pharmaceutical's total assets decreased to $7,000 as of June 30, 2026, from $53,000 at the end of 2025. Current liabilities increased to $1.89 million, up from $1.49 million, largely due to higher payables to related parties. The company's accumulated deficit grew to $10.62 million, compared to $10.17 million at the end of the previous fiscal year. The total stockholders' equity deficit also widened to $1.89 million from $1.43 million.

Strategically, Raphael Pharmaceutical has focused on the development of its lead product candidate for rheumatoid arthritis (RA), which is based on purified cannabigerol (CBG). The company completed a proof-of-concept clinical study in December 2024, which showed promising results, and subsequently launched its RaphaWell product in August 2025. The company is also exploring treatments for asthma and has filed various applications for clinical trials related to its product candidates. However, as of June 30, 2026, the company has not yet generated significant revenues and continues to rely on equity financing and loans to fund its operations.

Looking ahead, Raphael Pharmaceutical anticipates requiring approximately $1 million for research and development activities and an additional $1 million for clinical development and operational costs over the next 12 months. The company has expressed substantial doubt about its ability to continue as a going concern without securing additional financing. As of the latest report, the company had only $1,000 in cash and cash equivalents, indicating a critical need for funding to support its ongoing projects and operational requirements.