Can-Fite BioPharma Ltd. (CANF) reported that its net loss for the year ended December 31, 2020 widened to $14.44 million from last year's $12.62 million, due to a decrease in revenues in 2020 and an increase in research and development expenses which were partly offset by a decrease in finance expenses, net.

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Can-Fite BioPharma Ltd. (CANF) reported that its net loss for the year ended December 31, 2020 widened to $14.44 million from last year's $12.62 million, due to a decrease in revenues in 2020 and an increase in research and development expenses which were partly offset by a decrease in finance expenses, net.

RTTNews | Mar 25, 2021 09:00AM EDT

09:00 Thursday, March 25, 2021 (RTTNews.com) - Can-Fite BioPharma Ltd. (CANF) reported that its net loss for the year ended December 31, 2020 widened to $14.44 million from last year's $12.62 million, due to a decrease in revenues in 2020 and an increase in research and development expenses which were partly offset by a decrease in finance expenses, net.

Revenues for the year were $0.76 million, a decrease of $1.27 million, or 63%, compared to $2.03 million for the year ended December 31, 2019. The decrease in revenues was mainly due to the recognition of a lower portion of advance payments received under distribution agreements from Gebro, Chong Kun Dung Pharmaceuticals, and Cipher Pharmaceuticals.

Read the original article on RTTNews ( https://www.rttnews.com/3180294/can-fite-biopharma-fy-net-loss-widens-quick-facts.aspx)

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