Full Press Release Details
Can-Fite Announces $8 Million At-The-Market
Registered Direct Offering
Israel, December 2, 2014 - Can-Fite BioPharma Ltd. (NYSE MKT: CANF) (CFBI.TA), a biotechnology
company advancing a pipeline of proprietary small molecule drugs that address cancer and inflammatory diseases, today announced
that it has entered into definitive agreements with institutional investors to purchase an aggregate of $8 million of American
Depositary Shares (ADSs) in an at-the-market registered direct offering. For each ADS purchased, investors will receive one-half
of an unregistered warrant to purchase an ADS at an exercise price of $4.45 per ADS, which are exercisable immediately and expire
five years from the date of issuance.
The closing of the offering is expected to
take place on or about December 5, 2014, subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co., LLC acted as the
exclusive lead placement agent and Roth Capital Partners LLC acted as the Financial Advisor in connection with this offering.
The ADSs described above are being offered
pursuant to a shelf registration statement (File No. 333-199033) which became effective on October 21, 2014. Such ADSs may be offered
only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. The Company
will file a prospectus supplement with the SEC relating to such ADSs, and following such filing, copies of the prospectus supplement
and the accompanying base prospectus relating to this offering may be obtained at the SEC's website at http://www.sec.gov, or from
H.C. Wainwright & Co., LLC by e-mailing placements@hcwco.com.
The warrants and the ADSs underlying the warrants
have not been registered under the Securities Act of 1933, as amended or applicable state securities laws. Accordingly, the warrants
and underlying ADSs may not be offered or sold in the United States except pursuant to an effective registration statement or an
applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
This press release shall not constitute an
offer to sell or the solicitation of an offer to buy any of the securities described herein. There shall not be any offer, solicitation
of an offer to buy, or sale of securities in any state or jurisdiction in which such an offering, solicitation, or sale would be
unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Can-Fite BioPharma Ltd.
Can-Fite BioPharma Ltd. (NYSE MKT: CANF)
(CFBI.TA) is an advanced clinical stage drug development Company with a platform technology that is designed to
address multi-billion dollar markets in the treatment of cancer and inflammatory diseases. The Company's CF101 is in Phase II/III
trials for the treatment of psoriasis and the Company is preparing for a Phase III CF101 trial for rheumatoid arthritis. Can-Fite's
liver cancer drug CF102 is commencing Phase II trials and has been granted Orphan Drug Designation by the U.S. Food and Drug Administration.
CF102 has also shown proof of concept to potentially treat other cancers including colon, prostate, and melanoma.
Forward-Looking Statements
This press release may contain forward-looking
statements, about Can-Fite's expectations, beliefs or intentions regarding, among other things, its product development efforts,
business, financial condition, results of operations, strategies or prospects. In addition, from time to time, Can-Fite or its
representatives have made or may make forward-looking statements, orally or in writing. Forward-looking statements can be identified
by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may,"
"should" or "anticipate" or their negatives or other variations of these words or other comparable words or
by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may
be included in, but are not limited to, various filings made by Can-Fite with the U.S. Securities and Exchange Commission, press
releases or oral statements made by or with the approval of one of Can-Fite's authorized executive officers. Forward-looking statements
relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking
statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that
could cause Can-Fite's actual results to differ materially from any future results expressed or implied by the forward-looking
statements. Many factors could cause Can-Fite's actual activities or results to differ materially from the activities and results
anticipated in such forward-looking statements, including, but not limited to, the factors summarized in Can-Fite's filings with
the SEC and in its periodic filings with the TASE. In addition, Can-Fite operates in an industry sector where securities values
are highly volatile and may be influenced by economic and other factors beyond its control. Can-Fite does not undertake any obligation
to publicly update these forward-looking statements, whether as a result of new information, future
events or otherwise.