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CANF

Can-Fite BioPharma

$1.29

0.115 (9.83%)

09:18
08/07/18
08/07
09:18
08/07/18
09:18

Can-Fite BioPharma receives $2M payment from CMS Medical Venture Investment

Can-Fite BioPharma announced it has received its first payment of $2M from CMS Medical Venture Investment. Can-Fite recently announced entering into a development, registration and marketing agreement with CMS for the exclusive right of Can-Fite's lead drug candidates, Piclidenoson, or CF101, for the treatment of rheumatoid arthritis and psoriasis and Namodenoson, or CF102, for the treatment of advanced liver cancer and NAFLD/NASH in China. The recently signed CMS agreement adds to the agreements that the company already has in place with Cipher Pharmaceuticals, Kwang Dong Pharmaceutical, Chong Kun Dang and Gebro Pharma. Under the terms of the agreement, in addition to the upfront payment of $2M, CMS is required to pay to Can-Fite milestone payments of up to $14M upon the achievement of certain regulatory milestones and payments of up to $58.5M upon the achievement of certain sales milestones. In addition, the agreement provides for double-digit royalty payments on net sales.

CANF Can-Fite BioPharma
$1.29

0.115 (9.83%)

03/12/18
MAXM
03/12/18
DOWNGRADE
MAXM
Hold
Can-Fite BioPharma downgraded to Hold from Buy at Maxim
03/12/18
MAXM
03/12/18
DOWNGRADE
MAXM
Hold
Can-Fite BioPharma downgraded to Hold from Buy at Maxim
Maxim analyst Jason Kolbert downgraded Can-Fite BioPharma to Hold from Buy, saying the company's latest move to raise equity is no longer justifiable of a Buy rating. Kolbert notes that the equity dilution as part of the capital raise was unexpected, adding that the potential impact of raising "too little" capital may also result in more dilution down the line. The analyst also states that his concerns are hightened by limited near term catalysts as well as the expectations of operating capital burn rate of $21M this year against the company's estimated cash balance of $8M-$10M.
06/13/18
HCWC
06/13/18
INITIATION
Target $8
HCWC
Buy
Can-Fite BioPharma assumed with a Buy at H.C. Wainwright
H.C. Wainwright analyst Jason Kolbert assumed coverage of Can-Fite BioPharma with a Buy rating and $8 price target. The analyst believes the company's adenosine receptor's differential expression levels make it a good target for drug development in autoimmune disease and cancer.
06/13/18
06/13/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Liberty Global (LBTYA) initiated with a Sell at Berenberg. 2. Emergent BioSolutions (EBS) initiated with a Buy at Argus. 3. Nine Energy Services (NINE) initiated with a Strong Buy at Raymond James. 4. Can-Fite BioPharma (CANF) assumed with a Buy at H.C. Wainwright. 5. Control4 (CTRL) initiated with a Buy at Roth Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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