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TEL AVIV - PainReform Ltd. (NASDAQ:PRFX), a micro-cap pharmaceutical company with a current market value of $3 million, has reported a significant reduction in net losses for the first half of 2025, as the company advances its dual strategy in pharmaceuticals and renewable energy technologies, according to a company press release. According to InvestingPro analysis, the company’s overall financial health score remains weak at 1.45 out of 5, despite recent improvements.
The specialty pharmaceutical company, which focuses on reformulating established therapeutics and commercializing AI-driven solar analytics, reported a net loss of $2.3 million for the six months ended June 30, down from $12.8 million in the same period last year. The company maintained $3.5 million in cash and positive working capital of $1.5 million. InvestingPro data reveals the company is quickly burning through cash, though it maintains more cash than debt on its balance sheet. Unlock 6 additional key ProTips and comprehensive financial metrics with an InvestingPro subscription.
PainReform completed a majority investment in LayerBio, acquiring its OcuRing-K platform, a sustained-release intraocular ring delivering Ketorolac for pain and inflammation control following cataract surgery. The company continues development of PRF-110, its non-opioid pain relief candidate, despite mixed results in previous clinical trials.
In its energy division, PainReform completed development of the MyDeepSolar consumer app for residential solar optimization, gained acceptance into the NVIDIA Connect Program, and successfully transitioned a 92MW pilot project with Econergy in Romania into its first commercial agreement.
"The first half of 2025 has been transformational for PainReform as we advanced our dual strategy in specialty pharmaceuticals and renewable energy technologies," said Ehud Geller, Chairman and interim Chief Executive Officer of PainReform.
The company’s research and development expenses decreased to $0.3 million from $11.4 million in the prior year period, primarily due to the completion of Phase 3 clinical trials for PRF-110 in 2024. General and administrative expenses increased to $1.9 million from $1.5 million, mainly due to higher legal costs and share-based compensation expenses. With a current ratio of 1.81 and trailing twelve-month EBITDA of -$14.66 million, InvestingPro’s Fair Value analysis suggests the stock may be currently undervalued despite its challenging financial position.
In other recent news, PainReform Ltd. has completed its acquisition of a majority stake in LayerBio, Inc., a biotechnology company based in Boston. This strategic investment, totaling up to $3 million and contingent on achieving certain milestones, allows PainReform to advance clinical trials for OcuRing-K, a product aimed at managing pain and inflammation post-cataract surgery. The initial investment of $600,000 has already been made, with further funding to be released as LayerBio meets development milestones. Additionally, PainReform’s DeepSolar unit has been accepted into the NVIDIA Connect Program, which will provide access to NVIDIA’s AI frameworks and tools. This collaboration aims to enhance DeepSolar Predict, a solar forecasting solution for photovoltaic systems. These developments mark significant steps for PainReform in expanding its reach in both biotechnology and solar energy sectors. The company’s strategic moves reflect its commitment to innovation in non-opiate treatments and renewable energy solutions.
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