Biotechnology company Can-Fite BioPharma Ltd (NYSE American:CANF) (TASE:CFBI) disclosed on Friday that its net loss was USD7.84m for the nine months ended 30 September 2019.

This reflects a dip in earnings when compared with a lower net loss of USD3.14m for the same period in 2018.

Revenues of USD1.84m were generated for the nine months ended 30 September 2019, down from revenues of USD3.53m for the same period of 2018, mainly due to the recognition of advance payment under the distribution agreement with CMS Medical.

Research and development (R&D) expenses of USD7.01m were recorded for the nine months ended 30 September 2019, a rise over R&D of USD4.05m for the same period of 2018.