RFL: Phase 3 missed its overall endpoint; an NDA is filed amid acute funding needs

Trappsol® Cyclo’s pivotal trial missed its overall primary endpoint, though a prespecified subgroup showed significant benefit; an NDA is now under FDA review. FY2026 losses and cash use, alongside a going-concern warning, make additional financing critical.

Original document: Rafael Holdings, Inc. [RFL] SEC 10-K Annual Report — Oct. 29 2026