Raphael Pharmaceutical Inc.

RAPH: 8-K · material agreement

On July 30, 2026, Raphael Pharmaceutical entered into a 12-month Enterprise AI Transformation and Growth Partnership with AIcreatesAI Inc., naming the vendor as its managed AI, commercialization, communications, product and growth operations partner for a $180,000 annual fee paid in $15,000 monthly installments. The agreement discloses that the company is in its commercialization and capital-raising stage and may not have sufficient operating cash to pay invoices as they come due. Unpaid amounts automatically become deferred payment obligations, and with AIcreatesAI's written consent the company may settle them by issuing common stock; delays caused solely by lack of funds are explicitly not a default. The deal also contemplates building a company-branded digital token platform, subject to board approval, with AIcreatesAI entitled to two percent of the platform's net profits separate from the service fee. The filing states the agreement does not itself authorize regulated token issuance, exchange listing, custody or securities sales. For this micro-cap pharma, the deferred-payment and equity-settlement terms are the key takeaway: they signal tight liquidity and potential dilution, layered on top of a speculative digital-asset initiative adjacent to its RaphaWell commercialization plans.

SEC 8-K•1mo ago

RAPH: 10-Q · periodic report

Raphael Pharmaceutical's 10-Q for the quarter ended June 30, 2026 discloses substantial doubt about the company's ability to continue as a going concern. The pre-revenue clinical-stage drug developer reported just $1,000 in cash and said existing funds will not cover projected requirements through the third quarter of 2026. Quarterly losses are shrinking but the company still has no revenue: Q2 net loss was $223,000, down 31% from $322,000 a year earlier, and the six-month net loss of $452,000 fell 40% from $751,000. Stockholders' equity is negative at $1.885 million against an accumulated deficit of $10.62 million. The balance sheet leans heavily on insiders: $1.31 million is owed to officers for services, the CEO and CFO personally guarantee a small related-party loan, and roughly $319,000 plus VAT remains unpaid to research partner Rambam. Management plans to raise capital in the U.S. and estimates it needs about $2 million over the next 12 months. In a subsequent event, Guy Ofir resigned as CFO, General Counsel and director effective July 16, 2026, with Uri Tadelis appointed CFO. The company's lead program is a 98% purified CBG formulation for rheumatoid arthritis, and its RaphaWell supplement launched in the U.S. in August 2025.

SEC 10-Q•2mo ago

RAPH: 10-Q · periodic report

Raphael Pharmaceutical Inc. reported no revenue for the three months ended March 31, 2026, and a net loss of $229,000, or $0.01 per share. The company's cash position as of March 31, 2026, was only $1,000, raising substantial doubt about its ability to continue as a going concern. The decrease in net loss from $429,000 in the same period of 2025 to $229,000 in 2026 was primarily due to a reduction in research and development expenses and general and administrative costs. The company has a significant accumulated deficit of $10,397,000 as of March 31, 2026. Management expects that the company will continue to generate losses from its development, clinical development, and regulatory activities, which will result in negative cash flow from operating activities. Additional funding will be required to complete the company’s research and development and clinical trials, to attain regulatory approvals, and to begin commercialization efforts. Raphael Pharmaceutical Inc. has entered into a service agreement with its Chief Technology Officer, Dr. Igal Louria Hayon, who provides consulting services and coordinates collaborations with hospitals on medical cannabis research. The company also has a research agreement with Rambam Health Care Campus and Rambam Med-Tech Ltd. to study the effects of cannabis extracts on immune cells and the immunopathology of diseases like RA and COVID-19. The company's current cash and cash equivalents are insufficient to fund its projected operating requirements, and it will require significant additional financing in the near future. Management anticipates needing approximately $1 million for research and development activities and another $1 million for capital expenditures over the next 12 months.

SEC 10-Q•5mo ago