{"url":"https://newsforagent.com/news/2026-10-23/prf-technologies-shareholder-letter-phase-2","markdown_url":"https://newsforagent.com/news/2026-10-23/prf-technologies-shareholder-letter-phase-2.md","title":"PRF Technologies Reports $11.0 Million Cash, Phase 2 Trial","headline":"PRF Technologies Tells Shareholders It Holds $11.0 Million and Will Start OcuRing-K Phase 2 Enrollment","description":"PRF Technologies reported about $11.0 million in cash and $2.5 million in liabilities as of September 30, 2026.","section":"Business","published_at":"2026-10-23T13:35:01+00:00","modified_at":"2026-10-23T13:35:01+00:00","author":"News Desk","key_takeaways":["PRF Technologies reported preliminary consolidated cash, including short-term deposits, of approximately $11.0 million as of September 30, 2026, against total liabilities of approximately $2.5 million.","LayerBio, PRF's majority-owned subsidiary, expects to begin enrolling patients in the U.S. multi-center Phase 2 trial of OcuRing-K before year-end under an FDA-cleared IND.","PRF plans to establish GridFeed, together with its DeepSolar operations, as a standalone wholly owned subsidiary and is evaluating AI and hyperscale data center power optimization as a new market."],"companies":[{"name":"PRF Technologies","is_primary":true,"profile_url":"https://akta.pro/company-profiles/00ypdnw/prf-technologies","website":"https://www.prf-tech.com"},{"name":"LayerBio","is_primary":false,"profile_url":"https://akta.pro/company-profiles/0006y1d/layerbio","website":"http://www.layerbio.com"}],"source":{"publisher":"GlobeNewswire","title":"PRF Technologies Issues Letter to Shareholders Highlighting $11.0 Million Cash Position, Entering Phase 2 Trial of OcuRing™-K and GridFeed™ Opportunity in AI Data Center Power","url":"https://www.globenewswire.com/news-release/2026/10/23/3387278/0/en/prf-technologies-issues-letter-to-shareholders-highlighting-11-0-million-cash-position-entering-phase-2-trial-of-ocuring-k-and-gridfeed-opportunity-in-ai-data-center-power.html"},"other_sources":[],"tags":["Business","PRF Technologies","LayerBio"],"body_markdown":"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](https://www.globenewswire.com/news-release/2026/10/23/3387278/0/en/prf-technologies-issues-letter-to-shareholders-highlighting-11-0-million-cash-position-entering-phase-2-trial-of-ocuring-k-and-gridfeed-opportunity-in-ai-data-center-power.html).\n\n## PRF's Cash Position and OcuRing-K Trial Plans\n\n[PRF Technologies](https://akta.pro/company-profiles/00ypdnw/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.\n\nInterim 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.\n\n\"Our focus over the coming months is on advancing LayerBio's clinical program, developing GridFeed and maintaining financial discipline,\" Cohen-Arazi said.\n\n[LayerBio](https://akta.pro/company-profiles/0006y1d/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.\n\n## GridFeed's Standalone Subsidiary and Data Center Market\n\nAccording to akta.pro [company records](https://akta.pro/company-data), 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.\n\nPRF 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.\n\n## Earlier Steps Toward the OcuRing-K Trial\n\nIn 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.\n\n## What PRF Says Comes Next\n\nPRF 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.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}