PRF Technologies Reports Cash Of ~$11M As Of Sept. 30; Plans To Initiate Enrollment In Its U.S. Multi-Center Clinical Study Of OcuRing-K; Intendws To Estabish GridFeed vAs Standalone Subsidiary

PRF Technologies Ltd. (NASDAQ:PRFX) ("PRF", "PRF Technologies" or the "Company") today issued a Letter to Shareholders from Efraim Cohen-Arazi, Interim Chief Executive Officer.

Nine Months 2026 and Recent Highlights

• Consolidated cash, including short-term deposits, of approximately $11.0 million as of September 30, 2026, with total liabilities of approximately $2.5 million (preliminary and unaudited)
  
   
• Raised approximately $10.5 million in gross proceeds through the Company’s equity line facility during the nine months ended September 30, 2026, including approximately $0.5 million in the third quarter
  
   
• Consolidated operating loss of approximately $3.7 million for the nine months ended September 30, 2026 (preliminary and unaudited)
  
   
• LayerBio under the IND for OcuRing™-K expects to begin enrolling patients in its U.S. multi-center Phase 2 clinical trial before year-end, following completion of trial preparatory activities
  
   
• Announced plans to establish GridFeed™, together with the Company’s DeepSolar operations, as a standalone, wholly owned subsidiary to pursue various strategic transactions. Began evaluating AI and hyperscale data center power optimization as a new market for GridFeed, where the International Energy Agency (IEA) projects global data center electricity consumption to roughly double to 950 TWh by 2030