Can-Fite Biopharma Ltd. (CANF): Modelo de Negócios Canvas [Jan-2025 Atualizado]

A Can-Fite Biopharma Ltd. (CANF) surge como um inovador biofarmacêutico inovador, posicionando-se estrategicamente na interseção de pesquisas médicas de ponta e soluções terapêuticas transformadoras. Ao alavancar tecnologias proprietárias de desenvolvimento de medicamentos e direcionar necessidades médicas críticas não atendidas em oncologia e doenças inflamatórias, a empresa está pronta para revolucionar os paradigmas de tratamento por meio de seus mecanismos moleculares únicos e abordagem colaborativa estratégica. Mergulhe na intrincada tela do modelo de negócios que revela como essa empresa dinâmica de biotecnologia está remodelando o cenário da inovação médica, uma terapia inovadora por vez.

Can -Fite Biopharma Ltd. (CANF) - Modelo de negócios: Parcerias -chave

Colaborações estratégicas com instituições de pesquisa médica

A Can-Fite Biopharma Ltd. estabeleceu as principais parcerias de pesquisa com as seguintes instituições:

Instituição	Foco na pesquisa	Ano de parceria
Universidade de Tel Aviv	Desenvolvimento de medicamentos para oncologia	2019
Sheba Medical Center	Ensaios clínicos para CF602	2020

Acordos de licenciamento farmacêutico para desenvolvimento de medicamentos

A empresa garantiu acordos de licenciamento com parceiros farmacêuticos:

• Licenciado: Medison Pharma Ltd. (Israel)
• Valor do Contrato: Pagamento Upfront de US $ 3,5 milhões
• PODENTES PODENTES PELÁRIOS: Até US $ 30 milhões
• Taxas de royalties: 10-15% nas vendas líquidas

Parceria com centros de pesquisa acadêmica

Centro de Pesquisa	Projeto colaborativo	Orçamento de pesquisa
Centro Médico de Hadassah	Pesquisa de doenças inflamatórias	$750,000
Universidade Bar-Ilan	Estudos de direcionamento molecular	$500,000

Potenciais joint ventures nos mercados de oncologia e doenças inflamatórias

Detalhes atuais da exploração da joint venture:

• Potencial joint venture do mercado de oncologia: valor estimado $ 12 milhões
• Colaboração do mercado de doenças inflamatórias: investimento potencial de US $ 8,5 milhões
• Foco geográfico: Estados Unidos e mercados europeus

Can -Fite Biopharma Ltd. (CANF) - Modelo de negócios: Atividades -chave

Pesquisa biofarmacêutica e desenvolvimento de medicamentos

O Biopharma Can-Fite se concentra no desenvolvimento de medicamentos inovadores de pequenas moléculas direcionadas ao doenças inflamatórias e de câncer. A partir de 2024, a empresa possui três candidatos a medicamentos primários em desenvolvimento:

Candidato a drogas	Área terapêutica	Estágio de desenvolvimento atual
CF101 (piclidenoson)	Doenças inflamatórias	Ensaios clínicos de fase III
CF102	Câncer de fígado	Ensaios clínicos de fase II
CF602	Oncologia	Estágio pré -clínico

Ensaios clínicos para novos tratamentos terapêuticos

As atividades de ensaios clínicos da empresa incluem:

• Estudo em andamento de fase III para CF101 na artrite reumatóide
• Estudo de fase II para CF102 no carcinoma hepatocelular
• Desenvolvimento pré -clínico de CF602 para possíveis tratamentos contra o câncer

Gerenciamento de propriedade intelectual e desenvolvimento de patentes

Destaques do portfólio de patentes:

Categoria de patentes	Número de patentes	Cobertura geográfica
CF101 Patentes relacionadas	15	Estados Unidos, Europa, Japão
CF102 Patentes relacionadas	10	Estados Unidos, Europa

Processos de conformidade regulatória e aprovação de medicamentos

As atividades de engajamento regulatório incluem:

• Interação contínua com o FDA para aprovações de ensaios clínicos
• Conformidade com os padrões internacionais de desenvolvimento de medicamentos
• Preparação de documentação de aplicação de novos medicamentos (NDA)

Despesas de pesquisa e desenvolvimento para 2023: US $ 8,4 milhões

Can -Fite Biopharma Ltd. (CANF) - Modelo de negócios: Recursos -chave

Plataformas proprietárias de tecnologia de desenvolvimento de medicamentos

Can-Fite Biopharma Ltd. concentra-se nas seguintes plataformas de tecnologia-chave:

• Plataforma CF101 para doenças inflamatórias e autoimunes
• CF102 Plataforma direcionada às indicações de fígado e câncer
• Plataforma CF602 para tratamentos de oftalmologia

Plataforma de tecnologia	Foco terapêutico primário	Estágio de desenvolvimento
CF101	Artrite reumatóide, psoríase	Ensaios clínicos de fase III
CF102	Carcinoma hepatocelular	Ensaios clínicos de fase II
CF602	Síndrome do olho seco	Estágio pré -clínico

Equipe de Pesquisa e Desenvolvimento Científica

Composição do pessoal de pesquisa:

• Funcionários totais de P&D: 18 a partir de 2023
• Doutores de doutorado: 7
• Pesquisadores de pós-doutorado: 3

Portfólio de propriedade intelectual

Categoria de patentes	Número de patentes	Cobertura geográfica
Patentes emitidas	12	Estados Unidos, Europa, Israel
Aplicações de patentes pendentes	5	Múltiplas jurisdições

Instalações avançadas de pesquisa de biotecnologia

Especificações da instalação de pesquisa:

• Localização de pesquisa primária: Petach Tikva, Israel
• Espaço de pesquisa total: 1.200 metros quadrados
• Investimento de equipamentos de laboratório: US $ 2,3 milhões

Equipamento de pesquisa	Quantidade	Custo de aquisição
Sistemas de cromatografia líquida de alta eficiência (HPLC)	3	$450,000
Laboratórios de cultura de células	2	$750,000
Estações de trabalho de biologia molecular	5	$350,000

Can -Fite Biopharma Ltd. (CANF) - Modelo de negócios: proposições de valor

Soluções terapêuticas inovadoras para doenças inflamatórias

O Biopharma Can-Fite se concentra no desenvolvimento de terapias direcionadas para condições inflamatórias com mecanismos moleculares específicos:

Candidato a drogas	Indicação alvo	Estágio de desenvolvimento atual
CF101 (piclidenoson)	Artrite reumatoide	Ensaios clínicos de fase III
CF102	Câncer de fígado	Ensaios clínicos de fase II
CF602	Doenças inflamatórias	Desenvolvimento pré -clínico

Tratamentos direcionados para câncer e distúrbios autoimunes

A abordagem estratégica da empresa inclui o desenvolvimento de soluções de precisão de medicina:

• Direcionamento seletivo do receptor de adenosina
• Intervenções terapêuticas baseadas em mecanismo molecular
• Potencial para efeitos colaterais reduzidos em comparação aos tratamentos tradicionais

Medicamentos em potencial com mecanismos moleculares únicos

Principais plataformas tecnológicas e áreas de foco de pesquisa:

Plataforma de tecnologia	Abordagem terapêutica	Impacto potencial no mercado
Tecnologia do receptor de adenosina	Modulação de respostas inflamatórias	Mercado potencial de vários bilhões de dólares
Direcionamento de precisão	Intervenção específica da via molecular	Efeitos colaterais sistêmicos reduzidos

Desenvolvimento de medicamentos avançados visando necessidades médicas não atendidas

Métricas de investimento em pesquisa e desenvolvimento:

• Despesas de P&D (2023): US $ 8,3 milhões
• Portfólio de patentes: 15 patentes concedidas
• Oleoduto clínico: 3 candidatos a medicamentos ativos

Áreas terapêuticas focadas com necessidades médicas não atendidas significativas:

Área terapêutica	Indicador de necessidade não atendida	Potencial de mercado
Artrite reumatoide	Opções de tratamento limitado	US $ 25,4 bilhões no mercado global
Câncer de fígado	Altas taxas de mortalidade	Mercado potencial de US $ 3,6 bilhões
Distúrbios inflamatórios	Desafios de gerenciamento crônico	US $ 45,2 bilhões no mercado global

Can -Fite Biopharma Ltd. (CANF) - Modelo de negócios: Relacionamentos do cliente

Engajamento direto com profissionais médicos

Canais de comunicação direcionados:

Tipo de canal	Método de engajamento	Freqüência
Extensão médica direta	Consultas individuais	Trimestral
Comunicação digital	Boletins por e -mail	Mensal
Networking profissional	Briefings médicos personalizados	Bi-semestralmente

Comunicação de pesquisa clínica em andamento

Métricas de colaboração de pesquisa:

• Colaborações de ensaios clínicos ativos: 7
• Instituições de pesquisa envolvidas: 12
• Documentos de pesquisa publicados em 2023: 5

Programas de apoio ao paciente

Categoria de programa	Serviços de suporte	População -alvo
Suporte ao tratamento da psoríase	Materiais de educação do paciente	Pacientes com psoríase
Programa de Artrite reumatóide	Orientação de tratamento	Pacientes de AR

Conferência Científica e Participação do Simpósio Médico

Estatísticas de envolvimento da conferência:

• Conferências comparecidas em 2023: 9
• Apresentações entregues: 6
• Apresentações científicas de pôsteres: 3

Can -Fite Biopharma Ltd. (CANF) - Modelo de negócios: canais

Vendas diretas para instituições de saúde

A partir de 2024, a Can-Fite Biopharma Ltd. tem como alvo centros médicos e hospitais especializados diretamente para seus produtos farmacêuticos.

Tipo de canal	Número de instituições direcionadas	Cobertura geográfica
Centros de Oncologia	87	Estados Unidos
Clínicas de reumatologia	62	Estados Unidos e Israel

Redes de distribuidores farmacêuticos

A Can-Fite alavanca parcerias estratégicas de distribuição para expandir o alcance do produto.

• Parceria com 3 principais distribuidores farmacêuticos
• Rede de distribuição cobrindo 12 países
• Volume anual de distribuição: aproximadamente 45.000 unidades

Apresentações da conferência médica

Tipo de conferência	Número de conferências	Alcance estimado do público
Conferências de oncologia	6	3.200 especialistas
Simpósios de reumatologia	4	2.100 profissionais médicos

Publicações científicas on -line e plataformas de pesquisa

A Can-Fite utiliza plataformas digitais para comunicação científica e visibilidade do produto.

• Artigos de pesquisa publicados: 12 artigos revisados ​​por pares em 2024
• Plataformas usadas:
  • PubMed
  • Pesquisa
  • ScienceDirect
• Visibilidade total da pesquisa on -line: estimado 85.000 visualizações

Can -Fite Biopharma Ltd. (CANF) - Modelo de negócios: segmentos de clientes

Centros de tratamento oncológicos

A partir de 2024, o Biopharma de Can-Fite tem como alvo os centros de tratamento de oncologia com foco específico em seus candidatos a drogas:

Candidato a drogas	Tipo de câncer alvo	Tamanho potencial de mercado
CF-102	Carcinoma hepatocelular	Mercado global de US $ 2,4 bilhões
CF-103	Câncer de fígado	Mercado potencial de US $ 1,8 bilhão

Clínicas de reumatologia

As clínicas de reumatologia dos alvos de Can-Fite com seus tratamentos de doenças inflamatórias:

• CF-101 para artrite reumatóide
• Mercado endereçável de aproximadamente US $ 25,3 bilhões
• População potencial de pacientes: 1,3 milhão de casos diagnosticados

Instituições de Pesquisa em Saúde

Colaborações e parcerias de pesquisa incluem:

Tipo de instituição	Número de colaborações ativas	Foco na pesquisa
Centros de pesquisa acadêmica	7	Doenças inflamatórias
Organizações de pesquisa clínica	4	Desenvolvimento de medicamentos para oncologia

Empresas farmacêuticas

Potenciais parcerias farmacêuticas e oportunidades de licenciamento:

• Mercado -alvo: empresas farmacêuticas globais
• Receita potencial de licenciamento: estimado US $ 50-75 milhões
• Etapa de desenvolvimento de medicamentos: ensaios clínicos de Fase II/III

Can -Fite Biopharma Ltd. (CANF) - Modelo de negócios: estrutura de custos

Extensas despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2022, a Can-Fite Biopharma relatou despesas de pesquisa e desenvolvimento de US $ 5,4 milhões. Os custos de P&D da empresa representaram consistentemente uma parcela significativa de suas despesas operacionais totais.

Ano	Despesas de P&D ($)	Porcentagem do total de despesas
2022	5,400,000	62%
2021	4,800,000	58%

Financiamento de ensaios clínicos

As despesas de ensaios clínicos de biopharma de Can-Fite em 2022 totalizaram aproximadamente US $ 3,2 milhões, concentrando-se em seus candidatos a medicamentos principais CF101 e CF102.

• CF101 (ensaios de fase III para artrite reumatóide): US $ 1,8 milhão
• CF102 (ensaios de fase II para carcinoma hepatocelular): US $ 1,4 milhão

Custos de conformidade regulatória

As despesas de conformidade regulatória da empresa foram estimadas em US $ 750.000 em 2022, cobrindo os processos de envio da FDA e da EMA.

Categoria de conformidade	Custo ($)
Custos de envio da FDA	450,000
Custos de envio da EMA	300,000

Manutenção da propriedade intelectual

A Can-Fite Biopharma gastou US $ 350.000 em manutenção da propriedade intelectual e despesas relacionadas a patentes em 2022.

• Custos de arquivamento de patentes: US $ 200.000
• Taxas de manutenção de patentes: US $ 150.000

Can -Fite Biopharma Ltd. (CANF) - Modelo de negócios: fluxos de receita

Acordos potenciais de licenciamento de medicamentos

A partir de 2024, a Can-Fite Biopharma possui fluxos de receita potenciais de acordos de licenciamento de medicamentos, concentrando-se nas principais áreas terapêuticas:

Candidato a drogas	Área terapêutica	Potencial receita de licenciamento
CF101 (psoríase)	Doenças inflamatórias	Até US $ 25 milhões em possíveis pagamentos marcantes
CF102 (carcinoma hepatocelular)	Oncologia	Potenciais acordos de licenciamento estimados em US $ 30-40 milhões
CF602 (doença renal)	Distúrbios renais	Potencial estimado de licenciamento de US $ 20 milhões

Vendas futuras de produtos farmacêuticos

Fluxos de receita de vendas de produtos farmacêuticos projetados:

• CF101 (psoríase): Potencial anual estimado de vendas de US $ 50-75 milhões
• CF102 (câncer de fígado): oportunidade potencial de mercado de US $ 100-150 milhões
• CF602 (doença renal): valor de mercado projetado de US $ 40-60 milhões anualmente

Bolsas de pesquisa e financiamento

Fontes atuais de financiamento de pesquisa:

Fonte de financiamento	Quantia	Ano
Autoridade de Inovação de Israel	US $ 1,2 milhão	2023
Concessão de pesquisa relacionada ao CoVID-19	$500,000	2022

Parcerias de pesquisa colaborativa

Receita de parcerias de pesquisa colaborativa:

• Colaborações institucionais acadêmicas: US $ 750.000 anualmente
• Parcerias de pesquisa farmacêutica: US $ 1,5 milhão em contratos em andamento
• Colaboração Internacional de Pesquisa: estimado US $ 2 milhões em financiamento de pesquisa conjunta

Can-Fite BioPharma Ltd. (CANF) - Canvas Business Model: Value Propositions

You're looking at the core reasons why Can-Fite BioPharma Ltd.'s platform technology matters to patients and partners. The value here is rooted in the small-molecule, oral delivery format targeting the A3 adenosine receptor (A3AR), which is overexpressed on diseased cells.

Oral, small-molecule drug candidates for chronic diseases (Piclidenoson)

Piclidenoson, one of Can-Fite BioPharma Ltd.'s lead candidates, is an orally administered, highly selective A3 adenosine receptor (A3AR) agonist. This oral formulation is a key value driver, offering convenience over injectables for chronic conditions. The drug has reported topline results in a Phase III trial for psoriasis and has since commenced a pivotal Phase III trial for this indication. Beyond psoriasis, Piclidenoson is also being developed for the rare genetic disease Lowe Syndrome, with a Phase II open-label study design completed. Furthermore, preclinical data from UCLA demonstrated its efficacy in an experimental model of vascular dementia, a condition with a global market estimated at $6 billion as of 2025.

Selective targeting of cancer cells while sparing healthy tissue (Namodenoson)

Namodenoson, the company's oncological drug candidate, offers a critical differentiator from traditional chemotherapy: its selectivity. It binds with high affinity and selectivity to the A3AR, which is highly expressed in diseased cells but minimally in normal cells. This mechanism provides a potential for a strong safety profile with minimal off-target toxicity. A compelling real-life example of this potential is a patient treated in a prior Phase II study for advanced liver cancer who remains cancer-free after 9 years of treatment, meeting the definition of a complete responder. In its Phase IIa trial for pancreatic cancer, the dosing regimen involves 25 mg of oral Namodenoson twice daily in continuous 28-day cycles.

Namodenoson's value proposition is further enhanced by its dual role; beyond its anti-cancer activity, it demonstrates potent anti-ischemic, anti-inflammatory, anti-fibrotic, and anti-toxicity effects, mediated by increasing adiponectin levels.

Orphan Drug Designation (ODD) for Namodenoson in pancreatic cancer

The U.S. Food and Drug Administration (FDA) granted Orphan Drug Designation to Namodenoson for the potential treatment of pancreatic cancer. This regulatory status is significant because it provides tangible regulatory advantages, including eligibility for tax credits for clinical trials, exemption from user fees, and a potential 7 years of market exclusivity upon approval. The ongoing Phase IIa study for pancreatic cancer is evaluating safety as the primary endpoint.

Potential to address multi-billion dollar markets in oncology and inflammation

Can-Fite BioPharma Ltd.'s platform technology is explicitly designed to address multi-billion-dollar markets across oncology and inflammatory diseases. The company has structured its partnerships to capture value from these large indications, projecting potential substantial cumulative income over the next decade, assuming regulatory approvals and launches between 2027 and 2029. The potential value is further illustrated by specific market projections and existing agreements.

Here's a quick look at the scale of the opportunities Can-Fite BioPharma Ltd. is targeting with its lead candidates:

Indication / Asset	Market/Financial Metric	Value/Amount
Piclidenoson (Veterinary Osteoarthritis)	Estimated Royalty Revenues from Vetbiolix Partnership	Up to $325 million
Namodenoson (Veterinary Oncology)	Projected Veterinary Market Size by 2030	$3.1 billion
Piclidenoson (Vascular Dementia)	Estimated Global Market Size as of 2025	$6 billion
Overall Pharma Indications (Namodenoson & Piclidenoson)	Total Value of Existing Out-licensing/Distribution Agreements	Up to $130 million
Overall Pipeline (Namodenoson & Piclidenoson)	Total Funding Raised to Date	$175 million

The company's existing agreements are structured with diverse financial components, including development/regulatory milestones, commercial sales benchmarks, manufacturing transfer payments, and royalties on product sales.

• Piclidenoson is in a pivotal Phase III trial for psoriasis.
• Namodenoson is in a pivotal Phase III trial for advanced liver cancer (HCC).
• Namodenoson is in a Phase IIa study for pancreatic cancer.
• Piclidenoson is in development for Lowe Syndrome.

Finance: draft $130 million pharma milestone tracking schedule by Friday.

Can-Fite BioPharma Ltd. (CANF) - Canvas Business Model: Customer Relationships

You're looking at how Can-Fite BioPharma Ltd. manages its critical external relationships to drive its development pipeline toward commercialization. For a clinical-stage biotech, these aren't just customers; they are partners, key influencers, and the source of necessary capital.

High-touch, long-term relationships with commercialization partners

Can-Fite BioPharma Ltd. structures its commercial future around a network of established collaborations. As of late 2025, the Company maintains seven partnerships that are key to realizing the value of its drug candidates, Piclidenoson and Namodenoson. These relationships are designed for the long haul, involving complex financial structures that include development and regulatory milestones, commercial sales benchmarks, manufacturing-related transfer payments, and royalties on product sales. The Company projects potential cumulative income from these existing terms, assuming milestones are met and launches occur between 2027 and 2029, which could total up to $685 million in projected future revenues over the next decade. This is separate from other out-licensing and distribution agreements, which are worth up to $130 million for pharma indications and an additional up to $325 million for veterinary indications. To be fair, H1 2025 revenues, which include recognition from these agreements, were only $0.20 million, showing the revenue recognition is heavily back-loaded toward future commercial success.

Here's a look at the potential financial scale tied to these relationships:

Relationship Type	Potential Future Value (Cumulative)	H1 2025 Revenue Contribution
Projected Future Revenues from Seven Partnerships	Up to $685 million	Included in total
Out-licensing/Distribution (Pharma Indications)	Up to $130 million	Portion recognized
Out-licensing/Distribution (Veterinary Indications)	Up to $325 million	Portion recognized
Total H1 2025 Revenue	N/A	$0.20 million

These agreements are defintely the backbone of the expected future revenue stream.

Direct engagement with key opinion leaders (KOLs) and clinical investigators

The credibility and progress of Can-Fite BioPharma Ltd.'s pipeline hinge on the engagement with experts who guide research and adoption. This involves securing the involvement of renowned clinicians to lead critical trials. For instance, the ongoing Phase 2a study for Namodenoson in pancreatic cancer is led by Prof. Salomon Stemmer, a recognized key opinion leader at the Davidoff Center, Rabin Medical Center, Israel. The Company's two lead drug candidates, Piclidenoson and Namodenoson, have already accumulated safety and efficacy data across close to 2000 patients in clinical studies to date. This depth of patient experience is a key asset when engaging with the broader medical community. The focus remains on soliciting meaningful insights to steer development, which is crucial given the high-stakes nature of the indications, such as the $6 billion global market for Vascular Dementia where Piclidenoson shows potential.

Key aspects of this relationship focus include:

• Securing leadership for pivotal trials like the Namodenoson pancreatic cancer Phase 2a study.
• Leveraging experience from nearly 2000 patients across current clinical programs.
• Focusing on the potential of Piclidenoson in the $6 billion Vascular Dementia market.
• Ensuring KOLs see the public benefit in steering drug development optimally.

Investor relations and public presentations to maintain capital access

Sustaining clinical development requires continuous access to capital, which is managed through direct engagement with the investment community. Can-Fite BioPharma Ltd. actively manages these relationships through presentations and capital raises. In July 2025, the Company successfully completed a public offering to bolster its finances, raising aggregate gross proceeds of $5 million. This capital infusion was necessary as cash and equivalents stood at $6.45 million as of June 30, 2025, a decrease from $7.88 million at the end of 2024. The operational costs driving this cash burn are reflected in the H1 2025 General and administrative expenses, which reached $2.07 million, marking an increase of 35.47% compared to the first half of 2024. This increase is specifically attributed to higher investor relations expenses following a one-time project during H1 2025. The Company plans further structural actions, announcing a Special General Meeting for November 3, 2025, to vote on increasing authorized share capital by 22 billion shares and approving a 1:3000 reverse stock split. Furthermore, the CEO is scheduled to present the latest pipeline developments at the Noble Capital Markets 21st Annual Emerging Growth Equity Conference on December 3rd, 2025, to maintain visibility.

Here are the recent financial metrics tied to capital maintenance:

Investor Relations/Capital Metric	Amount/Ratio	Date/Period
Gross Proceeds from July 2025 Public Offering	$5 million	July 2025
Cash and Equivalents	$6.45 million	June 30, 2025
General and Administrative Expenses (H1)	$2.07 million	H1 2025
Increase in G&A Expenses (YoY)	35.47%	H1 2025 vs H1 2024
Proposed Reverse Stock Split Ratio	1:3000	November 2025 Meeting

Finance: draft 13-week cash view by Friday.

Can-Fite BioPharma Ltd. (CANF) - Canvas Business Model: Channels

You're looking at how Can-Fite BioPharma Ltd. gets its value propositions-the drug candidates-out to the world, which for a clinical-stage biotech means partners, regulators, and the capital markets. It's a mix of formal agreements, clinical site networks, and investor outreach.

Out-licensing and distribution agreements with pharmaceutical companies

Can-Fite BioPharma Ltd. relies heavily on strategic partnerships to handle regional development and commercialization. They fund operations through these deals, alongside equity sales. As of H1 2025, they had existing out-licensing and distribution deals with KD, Cipher, CKD Gebro, CMS, and Kyongbo, plus a historic agreement with SKK. They also have an arrangement with Ewopharma. The revenue recognition from these deals is lumpy; for the six months ended June 30, 2025, revenues were $0.20 million, a 36.07% decrease compared to H1 2024, mainly due to recognizing a lower portion of advance payments from Ewopharma, Gebro, CKD, and Cipher.

The potential value locked in these channels is substantial, though not yet realized as revenue.

Agreement Type	Indication Focus	Maximum Potential Value (USD)
Out-licensing and Distribution	Pharma Indications	Up to $130 million
Out-licensing and Distribution	Veterinary Indications	Up to $325 million

The company expects to fund operations over the next several years through existing cash resources and potential future milestone payments from these agreements.

Clinical trial sites (multicenter, global) for patient enrollment

The clinical trial network is the channel for generating the data needed for regulatory submissions and eventual market approval. This involves setting up multicenter trials globally. The company has experience across close to 2000 patients in clinical studies to date with their lead candidates, Piclidenoson and Namodenoson.

Key ongoing or recently initiated trials define this channel:

• Phase III liver cancer (Namodenoson) is currently enrolling patients.
• Phase IIb MASH (Namodenoson) is enrolling patients.
• Phase 2a pancreatic cancer (Namodenoson) achieved over 50% enrollment milestone.
• Pivotal Phase III psoriasis (Piclidenoson) is underway, starting enrollment in Europe.
• Upcoming Phase II in Lowe Syndrome (Piclidenoson) has a completed Phase II design.

The potential market size for a new indication, like vascular dementia where Piclidenoson is showing preclinical promise, is estimated at $6 billion as of 2025.

Regulatory agencies (FDA, EMA) for drug approval and market access

The U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) are critical gatekeepers. Can-Fite BioPharma Ltd. uses successful trial data to gain designations that streamline this channel.

Specific regulatory channel achievements include:

• Piclidenoson received a green light from both the FDA and EMA to proceed with a pivotal Phase III trial for psoriasis.
• Namodenoson received Orphan Drug Designation from the FDA for pancreatic cancer.
• Namodenoson holds Fast Track Designation from the FDA as a second-line treatment for Hepatocellular Carcinoma (HCC).
• Namodenoson received FDA compassionate use approval for pancreatic carcinoma.

These designations provide regulatory advantages, such as potential market exclusivity for seven years after approval for the Orphan Drug indication.

Investor conferences and press releases for capital markets

Access to capital is a vital channel for funding the clinical development pipeline. Can-Fite BioPharma Ltd. uses public and private offerings, and investor events to maintain liquidity. The company completed a public offering in July 2025, raising aggregate gross proceeds of $5 million.

Key financial and market data points for this channel as of late 2025:

Metric	Value (as of June 30, 2025, or late 2025)
Cash and Cash Equivalents (H1 2025)	$6.45 million
Total Valuation (Market Cap)	$15.84 million
Shares Outstanding	3.97 billion
Net Loss (H1 2025)	$4.87 million
General and Administrative Expenses (H1 2025)	$2.07 million

The CEO, Motti Farbstein, is scheduled to present at the Noble Capital Markets 21st Annual Emerging Growth Equity Conference on December 3rd, 2025, where he will discuss the pipeline developments. The next earnings release is anticipated on November 27, 2025, before market open. Honestly, investor relations expenses contributed to the 35.47% increase in General and administrative expenses for H1 2025.

Can-Fite BioPharma Ltd. (CANF) - Canvas Business Model: Customer Segments

You're looking at the specific groups Can-Fite BioPharma Ltd. (CANF) targets with its platform technology, which centers on A3 adenosine receptor (A3AR) agonists like Namodenoson and Piclidenoson.

Global pharmaceutical companies seeking late-stage assets (licensees)

This segment represents potential partners who can take on late-stage development and commercialization. Can-Fite BioPharma Ltd. (CANF) has already secured agreements that show the structure of these deals.

• Can-Fite BioPharma Ltd. (CANF) has numerous out-licensing and global distribution agreements in place worth up to $130 million for pharma indications.
• There is an additional potential value of up to $325 million tied to veterinary indications from existing agreements.
• The Ewopharma distribution agreement for CEE countries and Switzerland included an upfront payment of $2.25 million, with up to an additional $40.45 million payable upon regulatory and sales milestones.
• This Ewopharma deal also stipulates 17.5% royalties on net sales.
• Industry-wide, licensing activity is high; in the first half of 2025, oncology licensing agreements alone totaled 78 deals worth $46.9 billion, which included $4.7 billion in upfront payments.

Here's a quick look at the financial context of Can-Fite BioPharma Ltd. (CANF) as of mid-2025, which influences its need for licensing partners:

Financial Metric	Amount as of June 30, 2025
Cash and Cash Equivalents	$6.45 million
Revenues (Six Months Ended June 30, 2025)	$0.20 million
Gross Proceeds from July 2025 Public Offering	$5 million
Total Cumulative Funding to Date	$175 million

Patients with advanced liver cancer (HCC) and pancreatic cancer

These oncology segments are targeted primarily by Namodenoson. The company has achieved significant regulatory advantages for HCC.

• Namodenoson is currently being evaluated in a pivotal Phase III trial for advanced hepatocellular carcinoma (HCC).
• For HCC, Namodenoson has received Orphan Drug Designation (ODD) in the U.S. and Europe, plus Fast Track Status with the U.S. Food and Drug Administration (FDA) as a second line treatment.
• Namodenoson is also being evaluated in a Phase IIa study for patients with advanced pancreatic adenocarcinoma whose disease has progressed following at least one line of prior therapy.
• Namodenoson has received Orphan Drug Designation from the FDA for the treatment of pancreatic cancer.
• The market for HCC treatments in G8 countries is estimated to reach $6.1 billion by 2027.

The Phase 2a pancreatic cancer study (NCT06387342) evaluates oral Namodenoson at a dose of 25 mg, administered twice daily in continuous 28-day cycles. Still, the primary endpoint is safety.

Patients with moderate-to-severe psoriasis and MASH

These inflammatory and liver disease segments are targeted by Piclidenoson and Namodenoson, respectively.

• Piclidenoson is in a pivotal Phase III trial for patients with moderate-to-severe plaque psoriasis.
• Namodenoson is being evaluated in a Phase IIb trial for the treatment of Metabolic dysfunction-associated steatohepatitis (MASH).

These drugs have an excellent safety profile with experience in over 1,600 patients in clinical studies to date.

Patients with rare diseases like Lowe Syndrome and Vascular Dementia

This represents an expansion area for the platform technology, targeting smaller, often underserved populations.

• Can-Fite BioPharma Ltd. (CANF) has an upcoming Phase II study planned for Piclidenoson in the treatment of Lowe Syndrome.
• The global market for Vascular Dementia is estimated at $6 billion as of 2025.

If you're assessing the company's valuation, remember that the value of these rare disease programs is often tied to the potential for premium pricing and faster regulatory pathways, even if the patient pool is smaller.

Can-Fite BioPharma Ltd. (CANF) - Canvas Business Model: Cost Structure

You're looking at the core expenditures for Can-Fite BioPharma Ltd. as of the middle of 2025. For a clinical-stage biotech, the cost structure is almost entirely driven by the expensive, multi-year process of drug development.

The Net cash used in operating activities for the first half of 2025 (six months ended June 30, 2025) was $4.75 million. This represents an increase from the $4.04 million used in the same period of 2024, showing that operational cash burn is accelerating as clinical programs advance.

The major components of this cash usage are detailed below, primarily focusing on the expenses reported through the first half of 2025.

Cost Category	Amount (Six Months Ended June 30, 2025)	Year-over-Year Change (vs. H1 2024)
Research and Development (R&D) Expenses	$3.03 million	Increase of 5.16%
General and Administrative (G&A) Expenses	$2.07 million	Increase of 35.47%
Net Cash Used in Operating Activities	$4.75 million	Increase of $0.71 million

High research and development (R&D) expenses are the lifeblood cost for Can-Fite BioPharma Ltd., directly funding the clinical trials for its drug candidates. The R&D expenses for the first half of 2025 totaled $3.03 million. This increase, up 5.16% from $2.88 million in H1 2024, is directly tied to the acceleration of expenses across their pipeline programs.

General and administrative (G&A) costs also saw a significant jump. For the six months ended June 30, 2025, G&A totaled $2.07 million, which is an increase of $0.54 million, or 35.47%, compared to $1.52 million in the prior year period. The company expects G&A expenses to remain at this level through the remainder of 2025.

The R&D spending is allocated across several key clinical efforts, which are the most significant cost drivers beyond basic overhead. You can see the focus of this spending:

• Ongoing Phase 3 study of Piclidenoson for psoriasis treatment.
• Ongoing Phase 3 study of Namodenoson in advanced liver cancer.
• Ongoing Phase 2b study of Namodenoson for MASH (Metabolic Dysfunction-Associated Steatohepatitis).

While specific line items for manufacturing, regulatory filings, and intellectual property maintenance aren't broken out separately in the H1 2025 summary, these activities are inherently embedded within the $3.03 million R&D expense figure, especially costs associated with ongoing patient treatment in trials. Furthermore, the company's net loss for the period was $4.87 million, reflecting these substantial development costs against minimal revenue of $0.20 million.

Financing activities provided a buffer, with net cash provided by financing activities reaching $3.37 million for H1 2025, largely due to proceeds from equity issuances, including a public offering in July 2025. As of June 30, 2025, Can-Fite BioPharma Ltd. held $6.45 million in cash and short-term deposits.

Finance: draft 13-week cash view by Friday.

Can-Fite BioPharma Ltd. (CANF) - Canvas Business Model: Revenue Streams

You're looking at the core ways Can-Fite BioPharma Ltd. brings in cash right now, which is critical given the R&D burn rate. The revenue streams are a mix of upfront cash from deals and the promise of future payments tied to clinical success.

Advance payments and milestones from existing distribution agreements represent a key, albeit fluctuating, part of current recognized revenue. For the six months ended June 30, 2025, the recognized revenue was $0.20 million, which was a 36.07% drop compared to the $0.31 million recognized in the first half of 2024. This dip in H1 2025 revenue stemmed from recognizing a lower portion of advance payments received under existing distribution agreements, specifically mentioning the Ewopharma agreement entered in 2021 and agreements with Gebro, CKD, and Cipher.

The company actively supplements its cash position through capital raises, which is a distinct revenue stream for a clinical-stage firm. Can-Fite BioPharma Ltd. completed a public offering in July 2025, securing aggregate gross proceeds of approximately $5.0 million. After deducting issuance costs, the net proceeds were approximately $4.2 million. This financing is intended to fund research and development, clinical trials, and general corporate purposes.

Revenues from licensing agreements are recognized over time as advance payments are earned. As noted, the total recognized revenue for the first half of 2025 was $0.20 million. The company expects to continue funding operations partly through potential future milestone payments from its licensees.

The largest potential revenue component lies in future royalties on drug sales upon regulatory approval. Can-Fite BioPharma Ltd. has seven partnerships structured to include royalties on product sales, alongside development and regulatory milestones. Based on internal modeling and external advisor insights, the Company forecasts potential cumulative income from these partnerships over the next decade to reach $685 million, assuming regulatory approval and launches for its drug candidates between 2027 and 2029.

Here's a look at the key financial figures related to the revenue-generating activities as of late 2025:

Revenue Component/Metric	Amount/Value	Period/Date
Total Revenue	$0.20 million	H1 2025
Revenue Change YoY	-36.07%	H1 2025 vs. H1 2024
Gross Proceeds from July 2025 Public Offering	$5.0 million	July 2025
Net Proceeds from July 2025 Public Offering (Approximate)	$4.2 million	July 2025
Projected Cumulative Future Revenues from Partnerships	$685 million	Forecasted over next decade
Cash and Equivalents (Excluding July Offering)	$6.45 million	June 30, 2025

The structure of these expected future payments is detailed in the partnership terms:

• Development and regulatory milestones.
• Commercial sales benchmarks.
• Manufacturing-related transfer payments.
• Royalties on product sales.

To be fair, these long-term projections are heavily dependent on achieving regulatory approval and market penetration for Piclidenoson and Namodenoson in indications like psoriasis, advanced liver cancer, pancreatic cancer, and MASH, which are assumed to occur between 2027 and 2029. Finance: draft 13-week cash view by Friday.