Can-Fite BioPharma Ltd. (CANF): Marketing Mix Analysis [Dec-2025 Updated]

You're staring at an advanced clinical-stage biotech, trying to map the potential payoff of its oncology pipeline against its current financial reality. Honestly, the story for this company as of late 2025 is all about execution on its A3AR platform: its Product-Namodenoson in Phase III-is the key asset, but the financials show a burn, with H1 2025 revenue at just $0.20 million against $3.03 million in R&D expenses. We need to see how their 'Place' strategy of global out-licensing and 'Promotion' efforts, highlighted by recent investor presentations like NobleCon21, is designed to support a 'Price' structure capable of justifying the recent $5.0 million capital raise in July 2025. Let's dive into the four P's to see if their market mix is set for a major value inflection.

Can-Fite BioPharma Ltd. (CANF) - Marketing Mix: Product

You're looking at the core offerings of Can-Fite BioPharma Ltd., which centers entirely on proprietary small-molecule drug candidates built upon a common platform technology. This platform targets the A3 adenosine receptor (A3AR), which is highly expressed in diseased cells but shows low expression in normal cells, a differential expression that may account for the excellent safety profile seen across their pipeline. To date, across all drug candidates, Can-Fite BioPharma has experience in over 1,600 patients in clinical studies.

The product portfolio is defined by three main clinical-stage drug candidates and a significant veterinary opportunity. Here's a breakdown of what Can-Fite BioPharma is offering:

• Namodenoson (CF102): Advanced oncology and liver disease focus.
• Piclidenoson (CF101): Inflammatory disease and potential neurological application.
• CF602: Targeted treatment for sexual dysfunction.
• Veterinary Pipeline: Leveraging Piclidenoson for companion animal osteoarthritis.

Namodenoson (CF102)

Namodenoson, an orally bioavailable A3AR agonist, is Can-Fite BioPharma's lead candidate in oncology and liver disease. It has demonstrated selective targeting of liver and pancreatic tumor cells while sparing healthy tissue.

For advanced liver cancer, specifically hepatocellular carcinoma (HCC), Namodenoson is being evaluated in a pivotal Phase III clinical study, known as LIVERATION, which is currently enrolling patients in Europe, Israel, and the U.S. The study protocol has been agreed upon with the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA). This trial will enroll 450 patients diagnosed with advanced HCC and underlying Child Pugh B7 (CPB7) cirrhosis, randomized 2:1 to receive oral treatment with either 25 mg of Namodenoson or a matching placebo, given twice daily. Namodenoson has secured Orphan Drug Designation from both the FDA and EMA, along with Fast Track Status from the FDA for HCC as a second-line treatment. The market for HCC treatments in G8 countries is estimated by Delveinsight to reach $3.8 billion by 2027. A patient treated in a prior Phase II study reached an overall survival of 9 years to date with a complete response via a compassionate use program.

In pancreatic cancer, Namodenoson is in a Phase IIa study (NCT06387342) for advanced pancreatic adenocarcinoma patients who have progressed after prior therapy. As of H1 2025, this study achieved over a 50% enrollment milestone. The dosing regimen involves oral Namodenoson at 25 mg administered twice daily in continuous 28-day cycles, with approximately 20 evaluable patients expected to be enrolled. Namodenoson also has Orphan Drug Designation from the FDA for pancreatic cancer. Furthermore, a Phase IIb trial for Metabolic Dysfunction-associated Steatohepatitis (MASH) is underway under an open IND with the FDA.

Piclidenoson (CF101)

Piclidenoson, another orally administered A3AR agonist, is Can-Fite BioPharma's lead candidate for inflammatory diseases. The drug is currently in a pivotal Phase III trial for patients with moderate-to-severe plaque psoriasis. Patients in this FDA- and EMA-approved protocol will be treated with 3mg twice-daily oral Piclidenoson tablets or placebo. The study was first submitted on October 9, 2024, with the latest update on April 28, 2025, and recruitment has not yet begun.

Separately, Piclidenoson is being explored in a preclinical study for vascular dementia. There are no U.S. FDA approved therapies for this condition, and the global market is estimated at $6 billion as of 2025, projected to grow with a CAGR of 5% through 2035. The preclinical study in a vascular dementia model demonstrated that Piclidenoson restored tissue integrity and behavioral function.

CF602

CF602 is a preclinical drug candidate for erectile dysfunction (ED). Can-Fite BioPharma announced on November 20, 2025, that it received a Notice of Allowance from the National Institute of Industrial Property of Brazil for its patent application covering the use of CF602 for sexual dysfunction. This patent expands intellectual property protection beyond the U.S. and Europe, where patents have already been granted.

The drug is positioned to address a segment of the $3.2 billion ED market where current oral phosphodiesterase type 5 (PDE5) inhibitors are ineffective or contraindicated. An estimated 30% to 35% of ED patients are non-responders, and approximately 16 million men in the U.S. living with diabetes may be contraindicated for these existing drugs. Preclinical data in a diabetic rat model showed that a single dose of CF602 produced full erectile recovery, along with dose-dependent increases in intracavernosal pressure (ICM) and arterial flow.

Veterinary Pipeline

Can-Fite BioPharma has a veterinary pipeline utilizing Piclidenoson for osteoarthritis in pets, specifically dogs. This program is in partnership with Vetbiolix. The potential financial upside is substantial, with Can-Fite projecting to receive an aggregate of $325 million in upfront and royalty payments over the next decade, contingent on regulatory approval, assuming a potential launch in 2029. Under the agreement, Can-Fite is entitled to a 15% royalty on worldwide sales.

The market opportunity is significant, as the companion animal arthritis market was valued at $3.8 billion in 2023 and is projected to grow to $6.3 billion by 2030. Can-Fite estimates that Piclidenoson could achieve peak annual sales of $445 million by 2034, capturing about 6% of this market.

The core product assets and their development status can be summarized as follows:

The company has raised $175 million in total funding to date to advance these programs. As of June 30, 2025, Can-Fite BioPharma reported cash and cash equivalents and short term deposits of $6.45 million. On July 28, 2025, the company completed a public offering for aggregate gross proceeds of $5 million.

Can-Fite BioPharma Ltd. (CANF) - Marketing Mix: Place

The Place strategy for Can-Fite BioPharma Ltd. centers on leveraging strategic partnerships for global reach, given its clinical-stage development focus. Distribution is primarily executed through out-licensing agreements rather than direct sales infrastructure for its drug candidates.

Global distribution strategy is executed via out-licensing agreements for both pharmaceutical and veterinary indications. Can-Fite BioPharma Ltd. has numerous out-licensing and global distribution agreements in place worth up to $130 million for pharma indications, with an additional up to $325 million for veterinary indications. For example, the exclusive distribution agreement with Ewopharma AG for Piclidenoson and Namodenoson in Central Eastern European (CEE) countries and Switzerland included an upfront payment of US$2.25 million with up to an additional US$40.45 million payable upon milestone achievement, plus 17.5% royalties on net sales.

The company's primary operations are based in Ramat Gan, Israel. This base supports its dual listing structure on the NYSE American and TASE, both trading under the ticker CANF. As of November 28, 2025, the market capitalization stood at $3.63 million, with the company reporting 5 employees as of the same date.

The clinical development footprint necessitates a multicenter approach. Clinical trials are multicenter, including sites in the US, Europe, and Israel. Specifically, the Phase 2a study (NCT06387342) for Namodenoson in pancreatic cancer is a multicenter, open-label trial. The company's regulatory focus is heavily weighted toward the US and Europe. Namodenoson holds Orphan Drug Designation in the U.S. and Europe and Fast Track Designation from the FDA as a second line treatment for HCC.

Market expansion activities are conducted through participation in key industry events. Strategic partnering meetings are held at European conferences, such as the plan to advance new Veterinary Partnership Opportunities for Namodenoson at the BioFIT 2025 Conference on November 24, 2025. Furthermore, the CEO is scheduled to present at Noble Capital Markets 21st Annual Emerging Growth Equity Conference on December 3rd, 2025.

Here's a quick view of the operational and partnership footprint as of late 2025:

The current clinical pipeline distribution across indications and phases dictates the near-term distribution focus:

• Phase III trial for liver cancer (HCC)
• Phase IIb trial for MASH
• Phase IIa study for pancreatic cancer
• Upcoming Phase II in Lowe Syndrome

The reliance on out-licensing means that market penetration in specific territories, like CEE and Switzerland via Ewopharma AG, is contingent upon regulatory approval in those regions. The company's cash position as of June 30, 2025, was $6.45 million.

Finance: review Q3 cash burn relative to R&D spend of $3.03 million for H1 2025 by next Tuesday.

Can-Fite BioPharma Ltd. (CANF) - Marketing Mix: Promotion

Promotion for Can-Fite BioPharma Ltd. centers heavily on investor relations and communicating clinical milestones to the financial community and potential partners, given its clinical-stage status. This focus is evident in executive visibility and financial reporting surrounding outreach activities.

CEO Motti Farbstein is scheduled to present the latest developments in Can-Fite BioPharma Ltd.'s advanced stage drug development pipeline at Noble Capital Markets' Twenty First Annual Emerging Growth Equity Conference, NobleCon21, on Wednesday, December 3rd, 2025, at 12:30 PM ET in Boca Raton, Florida. The presentation will cover updates on the Phase III liver cancer trial, the Phase IIa pancreatic cancer trial, the Phase III psoriasis trial, the Phase IIb MASH trial, and the Upcoming Phase II in Lowe Syndrome. Mr. Farbstein will also conduct one-on-one meetings with investors at the conference.

The financial commitment to investor awareness is reflected in the General and administrative expenses for the six months ended June 30, 2025, which totaled $2.07 million. This represents an increase of $0.54 million, or 35.47%, compared to $1.52 million for the same period in 2024. This rise is explicitly attributed to the increase in investor relations expenses following a one-time project that occurred during the first half of 2025. To put this in context with overall performance, the net loss for H1 2025 widened to $4.87 million from $3.95 million in H1 2024, while revenues for the period decreased by 36.07% to $0.20 million. As of June 30, 2025, Can-Fite BioPharma Ltd. held cash and cash equivalents and short term deposits of $6.45 million.

Public relations efforts involve highlighting significant clinical data. A press release on November 18, 2025, announced that a patient treated with Namodenoson for advanced liver cancer reached an overall survival of 9 years to date with a complete response to treatment. This patient, originally enrolled in a completed Phase II study, continues treatment via a compassionate use program.

Industry event engagement focuses on securing non-dilutive income through partnerships. Can-Fite BioPharma Ltd. announced participation in BioFIT 2025, scheduled for December 2-3, 2025, in Strasbourg, France, with a specific aim to advance new veterinary partnership opportunities for Namodenoson. The company notes that prior participation at BioFIT led to a Piclidenoson veterinary deal with Vetbiolix, which is potentially worth an estimated $325 million in royalty revenues.

Digital promotion ensures broad investor access to corporate communications. The company provides several channels for accessing this information:

• Company website: www.canfite.com for press releases and archived webcasts.
• SEC Filings: Available for review of official financial data.
• Webcast Archives: The NobleCon21 presentation webcast will be archived on Can-Fite's website, the NobleCon website, and Channelchek.com for 90 days following the event.

These digital touchpoints support the in-person and press release-driven promotion efforts.

Can-Fite BioPharma Ltd. (CANF) - Marketing Mix: Price

You're looking at the pricing structure for Can-Fite BioPharma Ltd. (CANF) as of late 2025, which is heavily influenced by its clinical-stage development needs. The current revenue stream is modest, reflecting the pre-commercial nature of the business. For the first half of 2025 (H1 2025), revenue was reported at $0.20 million, which came primarily from existing out-licensing arrangements. To fund the ongoing clinical work, the company incurred Research and Development expenses totaling $3.03 million for that same H1 2025 period. This disparity between current revenue and R&D spend definitely drives the focus toward securing high-value future pricing for successful drug candidates.

Here's a quick look at some of the key financial data points shaping this pricing outlook:

The existing out-licensing deals are structured to provide significant future value, which is a key component of the current financial picture. These agreements for pharma indications carry potential milestone payments that can reach up to $130 million. This structure means that the actual realized price for the company's intellectual property is heavily back-loaded, contingent on clinical and regulatory success, which is typical for biotech licensing.

To bolster finances for continued operations and clinical advancement, the company executed a public offering in July 2025. This financing event brought in gross proceeds of approximately $5.0 million. This capital injection helps bridge the gap created by the high R&D burn rate, supporting the push toward achieving the necessary data to justify premium pricing for their specialty drugs.

The future pricing strategy is clearly aimed at high-value specialty markets, particularly those with significant unmet needs, such as Orphan Drug indications. Namodenoson, for example, is being evaluated in a Phase IIa study for pancreatic cancer, and it has already received Orphan Drug Designation. Securing this designation is critical because it directly impacts potential realized pricing through regulatory advantages.

• Potential for seven years of market exclusivity after approval.
• Eligibility for a tax credit equal to 50% of clinical investigation expenses.
• Exemption or waiver of Prescription Drug User Fee Act (PDUFA) application fees.
• Assistance in the drug development process.

This focus on Orphan Drug status suggests Can-Fite BioPharma Ltd. is positioning its successful candidates for premium, high-margin pricing, leveraging exclusivity to recoup the $3.03 million in R&D investment from H1 2025 and beyond.

Finance: draft 13-week cash view by Friday.