PRF Technologies reports $8,526 thousand in cash at June 30, 2026

The balance sheet

PRF Technologies Ltd. (Nasdaq: PRFX) furnished unaudited condensed financial statements as of June 30, 2026 in a 6-K filed September 3, 2026. Cash and cash equivalents were $8,526 thousand, up from $3,125 thousand at December 31, 2025. Short-term deposits were $3,009 thousand, up from $1,016 thousand. Total assets were $19,090 thousand, including intangible assets of $6,949 thousand, against total liabilities of $2,615 thousand.

Total equity was $16,475 thousand, including $602 thousand attributable to non-controlling interests. The accumulated deficit grew to $64,086 thousand from $61,289 thousand at year end. The statements carry a going-concern basis of preparation, and the notes say the company will depend on raising additional funds until it achieves profitability or positive cash flow.

The six-month loss

The comprehensive loss for the six months ended June 30, 2026 was $2,942 thousand, against $2,316 thousand a year earlier. Revenue was $14 thousand, against none in the prior-year period. Cost of sales was $56 thousand and selling and marketing expenses were $69 thousand. Amortization of intangible assets was $456 thousand, against $173 thousand. Research and development expenses rose to $806 thousand from $278 thousand.

Loss per share was $2.25, compared with $5.63. The statements adjust all share amounts for a 1-for-5 reverse share split effective February 6, 2026. The weighted average number of shares used for the loss per share rose to 1,244,482 from 411,192. Shares issued and outstanding were 3,041,830 at June 30, 2026, against 830,613 at December 31, 2025. In January 2026 shareholders approved raising authorized shares to 12,000,000 from 2,000,000.

The two equity lines

The first standby equity purchase agreement with Yorkville, signed May 7, 2026, committed up to $10.0 million of ordinary shares. Under it, each sale was priced at 97% of the lowest daily volume weighted average price over a three-trading-day period, and the company could set a minimum price for each advance. The notes say advances were subject to a 9.99% beneficial ownership limit. Advances were completed within about 24 hours of each notice. The agreement ended on May 29, 2026, when the commitment was fully used. The company had issued 2,152,798 ordinary shares for aggregate gross proceeds of $10.0 million.

The second agreement, signed June 18, 2026, commits Yorkville to up to $15.0 million over 36 months. The first commitment fee installment was settled in 20,276 ordinary shares. As of June 30, 2026, no amounts had been drawn under it. The notes say that from July 1, 2026 through the date the statements were issued, the company sold 437,000 ordinary shares under the June agreement for aggregate proceeds of $447 thousand.

For the six months, the company recognized commitment fees and other costs of the two agreements of $371 thousand in finance expenses. Part of those fees was settled in 44,660 ordinary shares, and part in cash.

What the company says comes next

The notes say the company expects to keep incurring losses and negative cash flows from operations until PRF-110, OcuRing-K and the DeepSolar products reach commercial profitability, if at all. Management says it plans to keep raising capital through the sale of equity, debt or capital from strategic partners. The notes give no timetable for any of those products.

The risk summary in the 2025 annual report, filed March 26, 2026, names OcuRing-K as a product on which the business depends, and says PRF has not yet commercialized any product. It also describes the DeepSolar market as new and unproven. The 6-K does not revise either point.

The six-month figures show cash of $8,526 thousand against a comprehensive loss of $2,942 thousand. The notes do not say how much more of the June line the company plans to draw.

Report an error

Companies in this story

PRFXPRF Technologies Ltd.NASDAQ · IsraelOpen the starter desk