PRF Technologies Tells Shareholders It Holds $11.0 Million and Will Start OcuRing-K Phase 2 Enrollment

PRF Technologies Ltd. reported preliminary consolidated cash, including short-term deposits, of approximately $11.0 million as of September 30, 2026, alongside total liabilities of approximately $2.5 million, and said it expects to begin enrolling patients in the U.S. Phase 2 trial of OcuRing-K before year-end. The company said this in a shareholder letter issued October 23, 2026, according to GlobeNewswire.

PRF's Cash Position and OcuRing-K Trial Plans

PRF Technologies is an Israel-based company developing specialty pharmaceutical drug-delivery therapies and AI-driven software for utility-scale solar asset analytics, with pharmaceutical programs still pre-commercial and early enterprise SaaS revenue from DeepSolar.

Interim Chief Executive Officer Efraim Cohen-Arazi wrote that the company raised approximately $10.5 million in gross proceeds through its equity line facility during the nine months ended September 30, 2026, including approximately $0.5 million in the third quarter. The letter reported a consolidated operating loss of approximately $3.7 million for the same nine-month period, described as preliminary and unaudited.

"Our focus over the coming months is on advancing LayerBio's clinical program, developing GridFeed and maintaining financial discipline," Cohen-Arazi said.

LayerBio, PRF's majority-owned subsidiary, holds an Investigational New Drug approval for a Phase 2 trial of OcuRing-K, an extended-release NSAID delivery device. The trial is designed to evaluate pain, inflammation and safety in patients undergoing cataract surgery, and LayerBio expects to start patient enrollment before year-end following completion of trial start-up activities.

GridFeed's Standalone Subsidiary and Data Center Market

According to akta.pro company records, PRF received FDA IND clearance for OcuRing-K in April 2026, enabling the U.S. multi-center Phase II clinical trial in cataract surgery patients with enrollment expected in the second half of 2026. The same records show the company reported preclinical head-to-head data in May 2026 showing PRF-110 sustained 72-hour analgesic activity comparable to approved benchmark ZYNRELEF in a porcine post-operative pain model.

PRF also announced plans to establish GridFeed, together with its DeepSolar operations, as a standalone, wholly owned subsidiary to pursue strategic transactions. The company said it began evaluating AI and hyperscale data center power optimization as a new market for GridFeed, citing an International Energy Agency projection that global data center electricity consumption will roughly double to 950 TWh by 2030.

Earlier Steps Toward the OcuRing-K Trial

In April 2026, PRF announced that the U.S. Food and Drug Administration cleared its Investigational New Drug application for OcuRing-K, enabling the initiation of a Phase II clinical trial for patients undergoing cataract surgery, according to GlobeNewswire. In June 2026, the company announced expanded preclinical results from a head-to-head comparison of PRF-110 against the approved extended-release analgesic ZYNRELEF in a porcine post-operative pain model, according to Stock Titan. In July 2026, PRF said it raised $10 million through an equity line facility on May 28, 2026, strengthening its balance sheet, according to Quiver Quantitative.

What PRF Says Comes Next

PRF said its priorities include initiating the OcuRing-K Phase 2 trial, completing the establishment of GridFeed as a standalone subsidiary, advancing discussions with potential strategic partners, developing GridFeed's data center opportunity and deploying capital responsibly.