Raphael Pharmaceutical Inc.

Raphael Pharmaceutical Inc. is a U.S.-listed pharmaceutical research and clinical development company with operations centered in Israel through its subsidiary Raphael Pharmaceutical Ltd. The company focuses on developing pharmaceutical drug candidates, including programs related to cannabis-derived compounds and other research-stage therapies, and relies on third parties for manufacturing and commercialization if products are approved.

0.03

— Raphael Pharmaceutical Inc.
%
Drug candidate research70% Preclinical and clinical research programs aimed at identifying and developing pharmaceutical candidates.
Sponsored research collaborations20% Research funded through agreements with academic or medical institutions such as Rambam.
Cannabis-derived therapeutic programs10% Development work focused on CBD oil and cannabis-strain-based pharmaceutical applications.

The company’s direct counterparties are primarily research collaborators, clinical and scientific institutions, and...

  • Research collaboratorsprimary

    Institutions such as Rambam that conduct sponsored research and help develop product candidates and IP.

  • Future commercialization partnerssecondary

    Manufacturers, distributors, or licensees that would commercialize approved drug products.

  • Cannabis supply counterpartiessecondary

    Parties such as Wolc that provide CBD oil or related cannabis inputs for development work.

  • Healthcare end marketsemerging

    Hospitals, physicians, and patients that could ultimately use approved therapies.

Raphael Pharmaceutical is incorporated in the United States but its operating substance is tied to Israel through...

  • •U.S. listed parent company with Israeli operating subsidiary
  • •Core research and development activity is centered in Israel
  • •Rambam collaboration ties development work to Israeli institutions
  • •No disclosed revenue by country in the provided filings
  • •No in-house manufacturing footprint; relies on third parties

The company’s strategy is to advance research-stage pharmaceutical candidates through sponsored collaborations, with...

01
Advance sponsored research programsshort-term

The company depends on research output to create candidate assets and IP.

02
Protect and monetize intellectual propertymedium-term

Joint ownership and royalty rights are central to future value creation.

03
Use external manufacturing and commercialization partnersmedium-term

The company does not intend to build an in-house manufacturing platform.

Raphael Pharmaceutical faces the typical risks of a pre-revenue drug developer: clinical, regulatory, and financing...

critical

Going-concern and financing risk

The company has not generated revenue and states current cash may be insufficient.

Scope
Corporate liquidity and continuity of operations
Materiality
high
high

Clinical and regulatory development risk

Drug candidates may fail in preclinical or clinical testing or not obtain approval.

Scope
Pipeline value and future commercialization
Materiality
high
high

Dependence on third-party research partner

Key development work is performed under sponsored research arrangements.

Scope
Rambam collaboration and related IP creation
Materiality
medium
medium

Royalty and IP-sharing obligations

Commercial sales may require royalty payments and joint ownership arrangements.

Scope
Future product economics
Materiality
medium
medium

Cannabis-related regulatory risk

Programs involving CBD oil and cannabis strains can face changing legal regimes.

Scope
Cannabis-derived therapeutic development
Materiality
medium
Research and development expense recognition
Quarterly operating loss and cash burn
Stock-based compensation
General and administrative expense and equity dilution
Accrued research obligations
Current liabilities and future cash requirements
Royalty accounting
Net margins and cash flows if products are commercialized

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: 29/04/2026