Immix Biopharma prices $125M stock offering

H.C. Wainwright has reconfirmed its Buy rating on Can-Fite BioPharma stock and kept the price target at $8.00. The current stock price of $2.23 is near its 52-week low of $2.14, indicating significant upside potential. The analyst considers the stock undervalued based on Fair Value, making it a candidate for the platform's watchlist of most undervalued stocks.

Can-Fite BioPharma's latest financial report for the first half of 2026, along with a corporate update, reveals the company has more cash than debt and a current ratio of 3.6. However, the business is still consuming cash as it progresses with clinical programs. Investors can explore further insights through InvestingPro's 12 exclusive tips on the company's financial health and prospects.

The Phase 3 COMFORT study is examining piclidenoson, an oral A3 adenosine receptor agonist, for patients with moderate-to-severe plaque psoriasis. The randomized, double-blind trial is assigning patients 2:1 to piclidenoson 3 mg BID or placebo, with co-primary efficacy goals of PASI 75 and sPGA 0/1 at week 16. Enrollment of 247 patients for the interim analysis was completed in July, with a total planned enrollment of 705 patients.

Management anticipates publishing the interim analysis results in the first quarter of 2027. H.C. Wainwright believes the pivotal study is de-risked due to the promising outcomes of the prior Phase 3 COMFORT-1 study. Can-Fite BioPharma also announced that its Phase 2a study of Namodenoson in advanced pancreatic ductal adenocarcinoma patients met its primary safety endpoint.

This study, involving 20 patients who had progressed on standard therapy, demonstrated durable survival outcomes. The acceptance of the study's abstract for a poster presentation at the European Society for Medical Oncology Congress 2026 underscores the importance of the trial's findings in the medical community. These developments suggest ongoing interest and potential for growth in Can-Fite BioPharma's research initiatives.