Rafael Holdings, Inc.

Rafael Holdings, Inc. is a U.S.-based biotechnology and life sciences holding company focused on developing pharmaceuticals and medical devices through a portfolio of controlled and minority-owned subsidiaries. Its core assets include Trappsol® Cyclo™, a clinical-stage therapy for Niemann-Pick Disease Type C1, along with interests in cancer therapeutics, orthopedic devices, and an infusion-technology business. The company also retains a small real estate interest in Jerusalem, Israel.

−3 148,4 %

−3 328,2 %

+44,0 %

4.89

4.86

— Rafael Holdings, Inc.
%
Clinical-stage pharmaceuticals55% Development of Trappsol® Cyclo™ and other drug candidates for rare disease and oncology.
Research product sales20% Sales of cyclodextrin products and related research materials used by laboratories and manufacturers.
Medical devices5% Orthopedic-focused devices and instruments intended to support minimally invasive procedures.
Infusion technology10% Technology and licensing activities tied to Unlokt™ and related manufacturing applications.
Real estate10% Residual ownership interest in a commercial building in Jerusalem, Israel.

Customers include research buyers of cyclodextrin products, clinical and commercial partners in pharmaceutical...

  • Research product customersprimary

    Buy cyclodextrin products for research purposes and related applications; they value product availability and supply continuity.

  • Clinical development stakeholdersprimary

    Include trial sites, collaborators, and future commercial partners supporting Trappsol® Cyclo™ and other drug candidates.

  • Medical device users and distributorssecondary

    Hospitals, surgeons, and channel partners that would use or distribute orthopedic instruments for minimally invasive procedures.

  • Manufacturing and technology customerssecondary

    Third-party manufacturers using Day Three's technology to improve product formulations and process outcomes.

  • Real estate counterpartiesemerging

    Tenants or users associated with the Jerusalem commercial building interest.

Rafael Holdings is headquartered in Newark, New Jersey, and its operating footprint spans the United States, Israel,...

  • •Headquartered in Newark, New Jersey, United States
  • •Commercial building interest located in Jerusalem, Israel
  • •Product sourcing from the U.S., Japan, China, and Europe
  • •Clinical and development activities span multiple jurisdictions
  • •Cross-border operations create FX and regulatory exposure

The company’s central strategy is to advance Trappsol® Cyclo™ through pivotal clinical development and, if successful,...

01
Complete Trappsol® Cyclo™ clinical developmentshort-term

The lead asset is the main value driver and the clearest path to future commercialization.

02
Focus capital on core healthcare holdingsmedium-term

The company manages multiple subsidiaries and needs to direct resources toward the most promising programs.

03
Build value through selective strategic investmentslong-term

The holding-company structure allows participation in additional therapeutics and device opportunities.

Rafael Holdings is exposed to clinical, regulatory, financing, and concentration risks typical of early-stage biotech...

critical

Clinical and regulatory failure

Drug candidates may not meet efficacy, safety, or approval standards.

Scope
Phase 3 trial and regulatory filing for Trappsol® Cyclo™
Materiality
high
high

Need for additional capital

Late-stage clinical development and potential commercialization require substantial funding.

Scope
Trappsol® Cyclo™ and broader portfolio development
Materiality
high
high

Customer concentration

A small number of customers account for a substantial portion of revenue.

Scope
Cyclodextrin research product sales
Materiality
high
high

Supplier dependence

The company relies on third-party suppliers and manufacturers for key inputs and production.

Scope
Trappsol® products and Aquaplex® products
Materiality
high
medium

Foreign exchange and cross-border disruption

Purchases and operations span multiple countries and currencies.

Scope
U.S., Japan, China, Europe, and Israel
Materiality
medium
Research and development expense
Affects operating loss and comparability across periods
Consolidation of subsidiaries
Can materially alter revenue, expenses, and segment mix
Impairment of long-lived assets
Could create non-cash charges and reduce carrying values
Fair value measurements
Can affect gains, losses, and balance-sheet carrying amounts

Raphael Pharmaceutical Inc.

RAPH · Medicinal Chemicals & Botanical Products

MADRIGAL PHARMACEUTICALS, INC.

MDGL · Pharmaceutical Preparations

CAPRICOR THERAPEUTICS, INC.

CAPR · Pharmaceutical Preparations

CHINA PHARMA HOLDINGS, INC.

CPHI · Pharmaceutical Preparations

RenovoRx, Inc.

RNXT · Pharmaceutical Preparations

Revolution Medicines, Inc.

RVMD · Biological Products, (No Diagnostic Substances)

: 29/04/2026