Business Context and Reporting Period
This Form 6-K filing by Can-Fite Biopharma Ltd. is dated June 1, 2020. The primary purpose of this report is to re-issue the Company's consolidated financial statements for the year ended December 31, 2019. This re-issuance follows a change in accounting method from International Financial Reporting Standards (IFRS) to U.S. Generally Accepted Accounting Principles (U.S. GAAP). The filing supersedes the financial data previously included in the Annual Report on Form 20-F filed on March 27, 2020.
Key Financial Metrics
The filing text incorporates by reference the re-issued consolidated financial statements (Exhibit 99.1) and selected financial data (Exhibit 99.2) but does not explicitly state specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity within the body of this Form 6-K. The text confirms that the attached statements are prepared in accordance with U.S. GAAP.
Material Changes
- Accounting Standard Change: The Company changed its reporting basis from IFRS to U.S. GAAP, necessitating the re-issuance of the 2019 annual financial statements.
- Superseding Prior Filings: The new financial statements and operating review replace those contained in the March 27, 2020 Form 20-F.
- Recent Quarterly Results: The filing references a press release (Exhibit 99.4) announcing financial results for the three months ended March 31, 2020, though specific figures are not detailed in this summary text.
Guidance, Outlook, and Risks
The filing incorporates by reference a section titled "Forward Looking Statements" and "Operating and Financial Review and Prospects" from the attached exhibits. The text does not provide specific details regarding future guidance, management commentary, risks, or contingencies within the main body of the Form 6-K. Investors must refer to Exhibit 99.2 and Exhibit 99.4 for these details.
Investor Verification Checklist
- Review Exhibit 99.1 to compare the re-issued U.S. GAAP financial statements against the previously filed IFRS statements for the year ended December 31, 2019.
- Examine Exhibit 99.4 (Press Release dated June 1, 2020) for specific financial results for the quarter ended March 31, 2020, and clinical updates.
- Verify the impact of the accounting standard change on key metrics such as net loss, cash burn, and total assets by analyzing the "Selected Financial Data" in Exhibit 99.2.
- Confirm the Company's current liquidity position and cash runway based on the updated U.S. GAAP figures.