Rafael (RFL) 10-Q 13 Dec 22 2023 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Oct. 31, 2022	Dec. 09, 2022
Document Information Line Items
Entity Registrant Name	RAFAEL HOLDINGS, INC.
Trading Symbol	RFL
Document Type	10-Q
Current Fiscal Year End Date	--07-31
Amendment Flag	false
Entity Central Index Key	0001713863
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Oct. 31, 2022
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-55863
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-2296593
Entity Address, Address Line One	520 Broad Street
Entity Address, City or Town	Newark
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07102
City Area Code	(212)
Local Phone Number	658-1450
Title of 12(b) Security	Class B common stock, par value $0.01 per share
Security Exchange Name	NYSE
Entity Interactive Data Current	Yes
Class A Common Stock
Document Information Line Items
Entity Common Stock, Shares Outstanding		787,163
Class B Common Stock
Document Information Line Items
Entity Common Stock, Shares Outstanding		23,685,491

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Oct. 31, 2022	Jul. 31, 2022
CURRENT ASSETS
Cash and cash equivalents	$ 22,173	$ 26,537
Restricted cash	660
Available-for-sale securities	71,014	36,698
Interest receivable	171	140
Trade accounts receivable, net of allowance for doubtful accounts of $242 and $197 at October 31, 2022 and July 31, 2022, respectively	135	157
Prepaid expenses and other current assets	768	4,621
Assets held-for-sale		40,194
Total current assets	94,921	108,347
Property and equipment, net	1,751	1,770
Investments – Other Pharmaceuticals	321	477
Investments – Hedge Funds	4,637	4,764
In-process research and development and patents	1,575	1,575
Other assets	11	1,387
TOTAL ASSETS	103,216	118,320
CURRENT LIABILITIES
Trade accounts payable	1,394	564
Accrued expenses	1,602	1,875
Other current liabilities	166	3,518
Due to related parties	44	69
Note payable, net of debt issuance costs, held-for-sale		15,000
Total current liabilities	3,206	21,026
Other liabilities	44	88
TOTAL LIABILITIES	3,250	21,114
COMMITMENTS AND CONTINGENCIES
EQUITY
Class A common stock, $0.01 par value; 35,000,000 shares authorized, 787,163 shares issued and outstanding as of October 31, 2022 and July 31, 2022, respectively	8	8
Class B common stock, $0.01 par value; 200,000,000 shares authorized, 23,712,449 issued and 23,685,036 outstanding as of October 31, 2022, and 23,712,449 issued and 23,687,964 outstanding as of July 31, 2022	237	237
Additional paid-in capital	263,197	262,023
Accumulated deficit	(163,865)	(165,457)
Accumulated other comprehensive gain (loss) related to unrealized gain (loss) on available-for-sale securities	40	(63)
Accumulated other comprehensive income related to foreign currency translation adjustment	3,757	3,767
Total equity attributable to Rafael Holdings, Inc.	103,374	100,515
Noncontrolling interests	(3,408)	(3,309)
TOTAL EQUITY	99,966	97,206
TOTAL LIABILITIES AND EQUITY	$ 103,216	$ 118,320

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Oct. 31, 2022	Jul. 31, 2022
Allowance for doubtful accounts (in Dollars)	$ 242	$ 197
Class A Common Stock
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	35,000,000	35,000,000
Common stock, shares issued	787,163	787,163
Common stock, shares outstanding	787,163	787,163
Class B Common Stock
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	23,712,449	23,685,036
Common stock, shares outstanding	23,712,449	23,685,036

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
REVENUE
Rental – Third Party	$ 43	$ 44
Rental – Related Party	27	27
Other – Related Party		120
Total revenue	70	191
COSTS AND EXPENSES
General and administrative	3,109	12,274
Research and development	2,081	2,153
Depreciation and amortization	22	19
Provision for loss on receivable from Cornerstone Pharmaceuticals pursuant to line of credit		25,000
Provision for losses on related party receivables		10,283
Loss from operations	(5,142)	(49,538)
Interest expense		(13)
Interest income	208	188
Impairment of investments - Other Pharmaceuticals	(156)
Impairment of cost method investment - Cornerstone Pharmaceuticals		(79,141)
Realized gain on available-for-sale securities	15
Unrealized (loss) gain on investments - Hedge Funds	(127)	211
Loss from continuing operations before income taxes	(5,202)	(128,293)
Provision for income taxes	(5)
Equity in loss of RP Finance		(575)
Consolidated net loss from continuing operations	(5,207)	(128,868)
Discontinued Operations (Note 3)
Loss from discontinued operations related to 520 Property	(84)	(543)
Gain on disposal of 520 Property	6,784
Income (loss) from discontinued operations	6,700	(543)
Consolidated net income (loss)	1,493	(129,411)
Net loss attributable to noncontrolling interests	(99)	(17,387)
Net income (loss) attributable to Rafael Holdings, Inc.	1,592	(112,024)
Unrealized gain on available-for-sale securities	103
Foreign currency translation adjustment	(10)	9
OTHER COMPREHENSIVE INCOME (LOSS)
Total comprehensive income (loss)	1,586	(129,402)
Comprehensive (loss) income attributable to noncontrolling interests	(99)	36
Total comprehensive income (loss) attributable to Rafael Holdings, Inc.	$ 1,685	$ (129,438)
Basic and diluted:
Continuing operations - basic and diluted (in Dollars per share)	$ (0.22)	$ (5.88)
Discontinued operations - basic and diluted (in Dollars per share)	0.29	(0.03)
Total basic and diluted earnings (loss) per share (in Dollars per share)	$ 0.07	$ (5.91)
Weighted average number of shares used in calculation of earnings (loss) per share
Basic and diluted (in Shares)	23,015,443	18,948,084

Consolidated Statements of Op_2

Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
REVENUE
Continuing operations - basic and diluted	$ (0.22)	$ (5.88)
Discontinued operations - basic and diluted	0.29	(0.03)
Total basic and diluted earnings (loss) per share	$ 0.07	$ (5.91)
Weighted average number of shares used in calculation of earnings (loss) per share, Diluted (in Shares)	23,015,443	18,948,084

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Total	Additional paid-in- capital	Accumulated deficit	Accumulated other comprehensive income	Noncontrolling interests	Series A Common Stock	Series B Common Stock
Balance at Jul. 31, 2021	$ 136,704	$ 159,136	$ (40,799)	$ 3,772	$ 14,418	$ 8	$ 169
Balance (in Shares) at Jul. 31, 2021						787,163	16,936,864
Net income (loss)	(129,411)		(112,024)		(17,387)
Stock-based compensation	7,851	7,851
Stock-based compensation (in Shares)
Common stock sold to investors	99,170	99,142					$ 28
Common stock sold to investors (in Shares)							2,833,425
Transaction costs incurred in connection with sale of common stock	(6,228)	(6,228)
Common stock sold to related party	4,997	4,996					$ 1
Common stock sold to related party (in Shares)							112,501
Shares withheld for payroll taxes	(30)	(30)
Shares withheld for payroll taxes (in Shares)							(571)
Foreign currency translation adjustment	9			9
Balance at Oct. 31, 2021	113,062	264,867	(152,823)	3,781	(2,969)	$ 8	$ 198
Balance (in Shares) at Oct. 31, 2021						787,163	19,882,219
Balance at Jul. 31, 2022	97,206	262,023	(165,457)	3,704	(3,309)	$ 8	$ 237
Balance (in Shares) at Jul. 31, 2022						787,163	23,687,964
Net income (loss)	1,493		1,592		(99)
Stock-based compensation	1,180	1,180
Stock-based compensation (in Shares)
Shares withheld for payroll taxes	(6)	(6)
Shares withheld for payroll taxes (in Shares)							(2,928)
Unrealized gain on available-for-sale securities	103			103
Foreign currency translation adjustment	(10)			(10)
Balance at Oct. 31, 2022	$ 99,966	$ 263,197	$ (163,865)	$ 3,797	$ (3,408)	$ 8	$ 237
Balance (in Shares) at Oct. 31, 2022						787,163	23,685,036

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Operating activities
Consolidated net income (loss)	$ 1,493	$ (129,411)
Less: Income (loss) from discontinued operations	6,700	(543)
Loss from continuing operations	(5,207)	(128,868)
Adjustments to reconcile consolidated net income (loss) to net cash used in operating activities
Depreciation and amortization	22	19
Net unrealized loss (gain) on investments - Hedge Funds	127	(211)
Realized gain on available-for-sale securities	(15)
Impairment of investments - Other Pharmaceuticals	156
Impairment of cost method investment - Cornerstone Pharmaceuticals		79,141
Provision for loss on receivable from Cornerstone Pharmaceuticals pursuant to line of credit		25,000
Interest income		(188)
Equity in loss of RP Finance		575
Provision for losses on related party receivables		10,283
Provision for doubtful accounts		19
Stock-based compensation, net	1,180	7,851
Amortization of debt issuance costs		125
Change in assets and liabilities, net of effects from discontinued operations:
Trade accounts receivable	(28)	(496)
Prepaid expenses and other current assets	566	649
Other assets	(28)	54
Accounts payable and accrued expenses	1,017	48
Other current liabilities	103	(124)
Due to related parties	(25)	(84)
Due from Cornerstone Pharmaceuticals		(120)
Other liabilities	4	33
Net cash used in continuing operations	(2,128)	(6,294)
Net cash used in discontinued operations	(421)	(180)
Net cash used in operating activities	(2,549)	(6,474)
Investing activities
Interest receivable	(31)
Payment to Cornerstone Pharmaceuticals pursuant to Line of Credit		(25,000)
Payment to fund RP Finance Line of Credit		(1,875)
Purchases of available-for-sale securities	(57,119)
Proceeds from maturities of available-for-sale securities	22,922
Net cash used in investing activities of continuing operations	(34,228)	(26,875)
Proceeds from sale of 520 Property - discontinued operations	49,400
Payment of transaction costs for sale of 520 Property - discontinued operations	(1,229)
Purchases of property and equipment - discontinued operations		(29)
Net cash provided by (used in) investing activities of discontinued operations	48,171	(29)
Net cash provided by (used in) investing activities	13,943	(26,904)
Financing activities
Proceeds from issuance of common stock		104,167
Payment of transaction costs incurred in connection with sale of common stock		(6,228)
Payments for taxes related to shares withheld for employee taxes	(6)	(30)
Net cash (used in) provided by continuing operations	(6)	97,909
Payment of Note Payable in connection with sale of 520 Property - discontinued operations	(15,000)
Net cash (used in) provided by financing activities	(15,006)	97,909
Effect of exchange rate changes on cash and cash equivalents	(92)	2
Net (decrease) increase in cash and cash equivalents and restricted cash	(3,704)	64,533
Cash and cash equivalents, and restricted cash, beginning of period	26,537	12,854
Cash and cash equivalents, and restricted cash, end of period	22,833	77,387
Reconciliation of cash and restricted cash
Cash and cash equivalents	22,173	72,387
Restricted cash	660	5,000
Total cash and cash equivalents and restricted cash shown in statement of cash flows	22,833	77,387
Non-cash supplemental disclosure
Transaction costs related to sale of 520 Property included in accounts payable	$ 43

Description of Business

Description of Business	3 Months Ended
	Oct. 31, 2022
Description of Business [Abstract]
DESCRIPTION OF BUSINESS	NOTE 1 – DESCRIPTION OF BUSINESS Description of Business Rafael Holdings, Inc. (NYSE:RFL), (“Rafael Holdings”, “we” or the “Company”), a Delaware corporation, is a holding company with interests in clinical and early-stage pharmaceutical companies (the “Pharmaceutical Companies”), including an investment in Cornerstone Pharmaceuticals, Inc., formerly known as Rafael Pharmaceuticals Inc., a cancer metabolism-based therapeutics company, a majority equity interest in LipoMedix Pharmaceuticals Ltd. (“LipoMedix”), a clinical stage pharmaceutical company, the activities of the Barer Institute Inc. (“Barer”), a wholly-owned preclinical cancer metabolism research operation, and Rafael Medical Devices, Inc. (“Rafael Medical Devices” and together with the Pharmaceutical Companies, the “Healthcare Companies”), a wholly-owned orthopedic-focused medical device company developing instruments to advance minimally invasive surgeries. In November 2022, the Company resolved to curtail its early-stage development efforts, including pre-clinical research at Barer. The decision was taken to reduce spending as the Company focuses on exploring strategic opportunities. The Company’s primary focus to date has been to invest in and fund, discover and develop novel cancer therapies, and we further seek to expand our portfolio through opportunistic investments in therapeutics which address high unmet medical needs including through acquisitions, strategic investments, or in-licensing assets. Historically, the Company owned multiple real estate assets. In 2020, the Company sold an office building located in Piscataway, New Jersey and, on August 22, 2022, the Company sold the building at 520 Broad Street in Newark, New Jersey that serves as headquarters for the Company and several tenants and an associated public garage (the “520 Property”). Refer to Note 3 for further details. Currently, the Company holds a portion of a commercial building in Jerusalem, Israel as its remaining real estate asset. The Company has debt and equity investments in Cornerstone Pharmaceuticals, formerly known as Rafael Pharmaceuticals Inc., or Rafael Pharmaceuticals, that includes preferred and common equity interests and a warrant to purchase additional equity. On June 17, 2021, the Company entered into a merger agreement to acquire full ownership of Cornerstone Pharmaceuticals in exchange for issuing Company Class B common stock to the other stockholders of Cornerstone Pharmaceuticals. On October 28, 2021, the Company announced that the AVENGER 500 Phase 3 clinical trial for CPI-613® (devimistat), Cornerstone Pharmaceuticals’ lead product candidate, did not meet its primary endpoint of significant improvement in overall survival in patients with metastatic adenocarcinoma of the pancreas. In addition, following a pre-specified interim analysis, the independent data monitoring committee for the ARMADA 2000 Phase 3 study for devimistat recommended the trial to be stopped due to a determination that it was unlikely to achieve the primary endpoint (the “Data Events”). In connection with the preparation of the Company’s first quarter financial statements, accounting principles generally accepted in the United States of America (“U.S. GAAP”) required that the Company assess the impact of the Data Events and determine whether the carrying values of the Company’s assets were impaired based upon the Company’s expectations to realize future value. In light of the Data Events, the Company concluded that the likelihood of further development of and prospects for CPI-613 is uncertain and fully impaired in the first quarter ended October 31, 2021 the value of its loans, receivables, and investment in Cornerstone Pharmaceuticals based upon its valuation of Cornerstone Pharmaceuticals. On February 2, 2022, the Company terminated the Merger Agreement with Cornerstone Pharmaceuticals, effective immediately, in accordance with its terms. Subsequently, on February 2, 2022, the Company withdrew its Registration Statement on Form S-4 related to the proposed Merger. In 2019, the Company established Barer, a preclinical cancer metabolism research operation, to focus on developing a pipeline of novel therapeutic compounds, including compounds to regulate cancer metabolism with potentially broader application in other indications beyond cancer. Barer has been comprised of scientists and academic advisors that are experts in cancer metabolism, chemistry, and drug development. In addition to its own internal discovery efforts, Barer pursued collaborative research agreements and in-licensing opportunities with leading scientists from top academic institutions. Barer’s subsidiary, Farber Partners, LLC (“Farber”), was formed around one such agreement with Princeton University’s Office of Technology Licensing for technology from the laboratory of Professor Joshua Rabinowitz, in the Department of Chemistry, Princeton University, for an exclusive worldwide license to its SHMT (serine hydroxymethyltransferase) inhibitor program. In November 2022, the Company resolved to curtail its early-stage development efforts, including pre-clinical research at the Barer Institute. The “Company” in these consolidated financial statements refers to Rafael Holdings and its subsidiaries on a consolidated basis. All significant intercompany accounts and transactions have been eliminated in consolidation. The accompanying consolidated financial statements reflect the activity related to the 520 Property as discontinued operations. All majority-owned subsidiaries are consolidated with all intercompany transactions and balances eliminated in consolidation. In addition to Rafael Holdings, Inc., the subsidiaries included in these consolidated financial statements are as follows: Company Country of Incorporation Percentage Owned Rafael Holdings, Inc. United States – Delaware 100 % Broad Atlantic Associates, LLC United States – Delaware 100 % IDT R.E. Holdings Ltd. Israel 100 % Rafael Holdings Realty, Inc. United States – Delaware 100 % Barer Institute, Inc. United States – Delaware 100 %* The Barer Institute, LLC United States – Delaware 100 %* Hillview Avenue Realty, JV United States – Delaware 100 % Hillview Avenue Realty, LLC United States – Delaware 100 % Rafael Medical Devices, LLC United States – Delaware 100 % Levco Pharmaceuticals Ltd. Israel 95 %*** Farber Partners, LLC United States – Delaware 93 % Pharma Holdings, LLC United States – Delaware 90 % LipoMedix Pharmaceuticals Ltd. Israel 84 % Altira Capital & Consulting, LLC United States – Delaware 67 % CS Pharma Holdings, LLC United States – Delaware 45 %** * In November 2022, the Company resolved to curtail its early-stage development efforts, including pre-clinical research at Barer. The decision was taken to reduce spending as the Company focuses on exploring strategic opportunities. ** 50% of CS Pharma Holdings, LLC is owned by Pharma Holdings, LLC. We have a 90% ownership in Pharma Holdings, LLC and, therefore, an effective 45% interest in CS Pharma Holdings, LLC. The Company, along with CS Pharma and Pharma Holdings, collectively own securities representing 51% of the outstanding capital stock of Cornerstone Pharmaceuticals and 42% of the capital stock on a fully diluted basis (excluding the remainder of the Warrant). Refer to Note 4 for further details. *** During Fiscal 2022, the Company discontinued further material investment in Levco. On March 15, 2022, the Company dissolved IDT 225 Old NB Road, LLC.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Oct. 31, 2022
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, which include only normal recurring adjustments, considered necessary for a fair presentation have been included. The Company’s fiscal year ends on July 31 of each calendar year. Each reference below to a fiscal year refers to the fiscal year ending in the calendar year indicated (e.g., fiscal year 2022 refers to the fiscal year ended July 31, 2022). Operating results for the three months ended October 31, 2022 are not necessarily indicative of the results that may be expected for the fiscal year ending July 31, 2023. The balance sheet at July 31, 2022 has been derived from the Company’s audited consolidated financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Therefore, these financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended July 31, 2022, or the 2022 Form 10-K, as filed with the U.S. Securities and Exchange Commission (the “SEC”). Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ significantly from those estimates. Liquidity As of October 31, 2022, the Company had cash and cash equivalents of $22.2 million, available-for-sale securities valued at $71.0 million, and an investment in hedge funds valued at $4.6 million. On August 22, 2022, the Company received net proceeds of approximately $33 million in connection with the sale of the 520 Property (see Note 3 for further details). The Company expects the balance of cash and cash equivalents, available-for-sale securities, and investment in hedge funds to be sufficient to meet our obligations for at least the next 12 months from the issuance of these consolidated financial statements. Risks and Uncertainties - COVID-19, War in Ukraine In late 2019, a novel strain of coronavirus, SARS-CoV, which causes COVID-19, was identified and has proved to be highly contagious. It has since spread extensively throughout the world, including the United States, and was declared a global pandemic by the World Health Organization in March 2020. The Company actively monitors the outbreak, including the spread of new variants of interest, and its potential impact on the Company’s operations and those of the Company’s holdings. Even with growing availability of testing and vaccines and the relaxation of public health measures that were implemented to limit the spread of the pandemic, there continues to be uncertainty around the COVID-19 pandemic and its impact. The Company had implemented a number of measures to protect the health and safety of the Company’s workforce including a voluntary work-from-home policy for the Company’s workforce who can perform their jobs from home as well as restrictions on discretionary business travel. Most of our employees have returned to working from the office on a part-time basis. The full impact of the COVID-19 pandemic on the Company will depend on factors such as the length of time of the pandemic; the responses of federal, state and local governments; the impact of future variants that may emerge; vaccination rates among the population; the efficacy of the COVID-19 vaccines; the longer-term impact of the pandemic on the economy and consumer behavior; and the effect on our employees, vendors, and other partners. The short and long-term implications of Russia’s invasion of Ukraine are difficult to predict at this time. The imposition of sanctions and counter sanctions may have an adverse effect on the economic markets generally and could impact our business and the companies in which we have investments, financial condition, and results of operations. Because of the highly uncertain and dynamic nature of these events, it is not currently possible to estimate the impact of the Russian – Ukraine war on our business and the companies in which we have invested. Concentration of Credit Risk and Significant Customers The Company routinely assesses the financial strength of its customers. As a result, the Company believes that its accounts receivable credit risk exposure is limited. For the three months ended October 31, 2022, including revenue from discontinued operations, related parties represented 44% of the Company’s revenue, and as of October 31, 2022, one customer represented 67% of the Company’s accounts receivable balance. For the three months ended October 31, 2021, related parties represented 63% of the Company’s revenue, and as of October 31, 2021, two customers, one of which is a related party, represented 71% and 14% of the Company’s accounts receivable balance, respectively. Cash and Cash Equivalents The Company considers all liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Restricted Cash Restricted cash represented escrow funds held in bank accounts owned by the Company to be used to secure a letter of credit for a tenant in connection with the sale of the 520 Property. The Company did not have the right to use this cash balance for any other purpose. Reserve for Receivables The Company evaluates accounts receivable, loans, interest and fees receivable for impairment under Accounting Standards Codification (“ASC”) 310, Receivables Investments The method of accounting applied to long-term investments, whether consolidated, equity or cost, involves an evaluation of the significant terms of each investment that explicitly grant or suggest evidence of control or influence over the operations of the investee and also include the identification of any variable interests in which the Company is the primary beneficiary. The consolidated financial statements include the Company’s controlled affiliates. All significant intercompany accounts and transactions between the consolidated affiliates are eliminated. Investments in businesses that the Company does not control, but in which the Company has the ability to exercise significant influence over operating and financial matters, are accounted for using the equity method. Investments in which the Company does not have the ability to exercise significant influence over operating and financial matters are accounted for in accordance with ASC 321, Investments - Equity Securities Investments - Hedge Funds The Company accounts for its investments in hedge funds in accordance with ASC 321, Investments – Equity Securities Corporate Bonds and US Treasury Bills The Company’s marketable securities are considered to be available-for-sale as defined under ASC 320, Investments - Debt and Equity Securities Variable Interest Entities In accordance with ASC 810, Consolidation If an entity is determined to be a VIE, the Company evaluates whether the Company is the primary beneficiary. The primary beneficiary analysis is a qualitative analysis based on power and economics. The Company consolidates a VIE if both power and benefits belong to the Company – that is, the Company (i) has the power to direct the activities of a VIE that most significantly influence the VIE’s economic performance (power), and (ii) has the obligation to absorb losses of, or the right to receive benefits from, the VIE that could potentially be significant to the VIE (benefits). The Company consolidates VIEs whenever it is determined that the Company is the primary beneficiary. Cost Method Investments Equity Method Investments Assets Held-for-Sale and Discontinued Operations The Company classifies assets as held-for-sale if all held-for-sale criteria is met pursuant to ASC 360-10, Property, Plant and Equipment Strategic changes in the Company’s operations can be considered a discontinued operation if both the operations and cash flows of the discontinued component have been (or will be) eliminated from the ongoing operations of the Company and the Company will not have any significant continuing involvement in the operations of the discontinued component after the disposal transaction. The results of the discontinued operations shall be reflected as a discontinued operation on the consolidated statements of operations and comprehensive income (loss) and prior periods shall be recast to reflect the earnings from discontinued operations. As a result of the agreement to sell the 520 Property, the accompanying consolidated financial statements reflect the activity related to the sale of the 520 Property as discontinued operations. The Company determined that the 520 Property met the held-for-sale and discontinued operations criteria as of July 1, 2022, and was disposed of during the three months ended October 31, 2022. See Note 3 to the consolidated financial statements for additional information regarding the results, major classes of assets and liabilities, significant non-cash operating items, and capital expenditures of discontinued operations. Revenue Recognition The Company applies the five-step approach as described in ASC 606, Revenue from Contracts with Customers The Company disaggregates its revenue by source within its consolidated statements of operations and comprehensive income (loss). As an owner and operator of real estate, the Company derives the majority of its revenue from leasing office and parking space to tenants at its properties. In addition, the Company earns revenue from recoveries from tenants, consisting of amounts due from tenants for common area maintenance, real estate taxes and other recoverable costs. Revenue from recoveries from tenants is recorded together with rental income on the consolidated statements of operations and comprehensive income (loss) which is also consistent with the guidance under ASC 842, Leases The revenue derived from the 520 Property, which included leasing office and parking space to the tenants, is presented within discontinued operations in the consolidated statements of operations and comprehensive income (loss). Contractual rental revenue is reported on a straight-line basis over the terms of the respective leases. Accrued rental income, included within other assets on the consolidated balance sheets, represents cumulative rental income earned in excess of rent payments received pursuant to the terms of the individual lease agreements. The Company also earned revenue from parking which was derived primarily from monthly and transient daily parking. The monthly and transient daily parking revenue falls within the scope of ASC 606 and was accounted for at the point in time when control of the goods or services transfers to the customer and the Company’s performance obligation is satisfied, consistent with the Company’s previous accounting. The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of tenants to make required rent payments or parking customers to pay amounts due. Research and Development Costs Research and development costs and expenses incurred by consolidated entities consist primarily of salaries and related personnel expenses, stock-based compensation, fees paid to external service providers, laboratory supplies, costs for facilities and equipment, license costs, and other costs for research and development activities. Research and development expenses are recorded in operating expenses in the period in which they are incurred. Estimates have been used in determining the liability for certain costs where services have been performed but not yet invoiced. The Company monitors levels of performance under each significant contract for external service providers, including the extent of patient enrollment and other activities through communications with the service providers to reflect the actual amount expended. Contingent milestone payments associated with acquiring rights to intellectual property are recognized when probable and estimable. These amounts are expensed to research and development when there is no alternative future use associated with the intellectual property. Stock-Based Compensation The Company accounts for stock-based compensation using the provisions of ASC 718, Stock-Based Compensation Contingencies The Company accrues for loss contingencies when both (a) information available prior to issuance of the financial statements indicates that it is probable that a liability had been incurred at the date of the financial statements and (b) the amount of loss can reasonably be estimated. When the Company accrues for loss contingencies and the reasonable estimate of the loss is within a range, the Company records its best estimate within the range. When no amount within the range is a better estimate than any other amount, the Company accrues the minimum amount in the range. The Company discloses an estimated possible loss or a range of loss when it is at least reasonably possible that a loss may have been incurred. Fair Value Measurements Fair value of financial and non-financial assets and liabilities is defined as an exit price, which is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The three-tier hierarchy for inputs used to measure fair value, which prioritizes the inputs to valuation techniques used to measure fair value, is as follows: ● Level 1 - quoted prices in active markets for identical assets or liabilities; ● Level 2 - quoted prices in active markets for similar assets and liabilities and inputs that are observable for the asset or liability; or ● Level 3 - unobservable inputs for the asset or liability, such as discounted cash flow models or valuations. A financial asset’s or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy. Earnings (Loss) Per Share Basic loss per share is computed by dividing net loss attributable to all classes of common stockholders of the Company by the weighted average number of shares of all classes of common stock outstanding during the applicable period. Diluted loss per share is determined in the same manner as basic loss per share, except that the number of shares is increased to include restricted stock still subject to risk of forfeiture and to assume exercise of potentially dilutive stock options using the treasury stock method, unless the effect of such increase would be anti-dilutive. The Company uses income from continuing operations as the “control number” or benchmark to determine whether potential common shares are dilutive or anti-dilutive for purposes of reporting earnings (loss) per share for discontinued operations. Recently Issued Accounting Standards Not Yet Adopted From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies and are adopted by the Company as of the specified effective date. The Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption. In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In August 2020, the FASB issued ASU No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity

Discontinued Operations

Discontinued Operations	3 Months Ended
	Oct. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	NOTE 3 – DISCONTINUED OPERATIONS On July 1, 2022, the Company determined that the 520 Property met the held-for-sale criteria and the Company has therefore classified the 520 Property as held-for-sale in the consolidated balance sheets at July 31, 2022. The sale of the 520 Property also represents a significant strategic shift that will have a major effect on the Company’s operations and financial results. Therefore, the Company has classified the results of operations related to the 520 Property as discontinued operations in the consolidated statements of operations and comprehensive income (loss). Depreciation on the 520 Property ceased on July 1, 2022, as a result of the 520 Property being classified as held-for-sale. On August 22, 2022, Broad Atlantic Associates, LLC, a wholly-owned subsidiary of the Company, completed the sale of the 520 Property for an aggregate purchase price of $49.4 million. The 520 Property was encumbered by a mortgage securing a $15 million note payable which was paid off in this transaction. Refer to Note 12 for further information on the note payable. After repaying the note payable, commissions, taxes, and other related costs, the Company received a net cash amount of approximately $33 million at closing. The carrying value of major classes of assets and liabilities related to discontinued operations at July 31, 2022 was as follows ($ in thousands): As of July 31, Current assets held-for-sale Building and Improvements $ 45,437 Land 10,412 Furniture and Fixtures 1,145 Other 205 Property and equipment 57,199 Less Accumulated Depreciation (17,005 ) Property and equipment, net 40,194 Total current assets held-for-sale 40,194 Total assets held-for-sale $ 40,194 Current liabilities held-for-sale Total current liabilities $ 15,000 The current portion of deferred rental income included in Prepaid Expenses and Other Current Assets was approximately $0 thousand and $150 thousand as of October 31, 2022 and July 31, 2022, respectively. The noncurrent portion of deferred rental income included in Other Assets was approximately $0 million and $1.3 million as of October 31, 2022 and July 31, 2022, respectively. The deferred rental income pertains to the 520 Property and was settled at the date of the sale of the 520 Property with the other working capital accounts of 520 Broad Street. Discontinued operations includes (i) rental and parking revenues, (ii) payroll, benefits, facility costs, real estate taxes, consulting and professional fees dedicated to the 520 Property, (iii) depreciation and amortization expenses and (iv) interest (including amortization of debt issuance costs) on the note payable on the 520 Property. The operating results of these items are presented in our consolidated statements of operations and comprehensive income (loss) as discontinued operations for all periods presented. The following table details the components comprising net loss from our discontinued operations ($ in thousands): Three Months Ended 2022 2021 Revenue from discontinued operations: Rental – Third Party $ 68 $ 152 Rental – Related Party 115 493 Parking 66 190 Total revenue from discontinued operations 249 835 Costs and expenses from discontinued operations: General and administrative 246 618 Depreciation and amortization — 363 Income (loss) from discontinued operations 3 (146 ) Interest expense (87 ) (397 ) Loss from discontinued operations (84 ) (543 ) Gain on disposal of discontinued operations 6,784 — Income (loss) from discontinued operations $ 6,700 $ (543 ) The gain on disposal of discontinued operations of approximately $6.8 million was derived from the gross proceeds of approximately $49.4 million from the sale of the 520 Property, less the carrying value of the 520 Property of approximately $40.2 million, net of approximately $1.2 million in transaction costs and the write off of approximately $1.2 million of deferred rental income.

Investment in Cornerstone Pharm

Investment in Cornerstone Pharmaceuticals	3 Months Ended
	Oct. 31, 2022
Schedule of Investments [Abstract]
INVESTMENT IN CORNERSTONE PHARMACEUTICALS	NOTE 4 – INVESTMENT IN CORNERSTONE PHARMACEUTICALS Equity Investment in Cornerstone Pharmaceuticals and Impairment of Cost Method Investment Cornerstone Pharmaceuticals is a clinical stage, cancer metabolism-based therapeutics company focused on the development and commercialization of therapies that exploit the metabolic differences between normal cells and cancer cells. The Company owns debt and equity interests and rights in Cornerstone Pharmaceuticals through a 90%-owned non-operating subsidiary, Pharma Holdings, LLC, or Pharma Holdings. Pharma Holdings owns 50% of CS Pharma Holdings, LLC, or CS Pharma, a non-operating entity that owns equity interests in Cornerstone Pharmaceuticals. Accordingly, the Company holds an effective 45% indirect interest in the assets held by CS Pharma. A trust for the benefit of the children of Howard Jonas (Chairman of the Board and Executive Chairman and former Chief Executive Officer of the Company and Member of the Board of Cornerstone Pharmaceuticals) holds a financial instrument (the “Instrument”) that owns 10% of Pharma Holdings. Pharma Holdings holds 44.0 million shares of Cornerstone Pharmaceuticals’ Series D Convertible Preferred Stock and a warrant to increase the combined ownership of Pharma Holdings and CS Pharma to up to 56% of the fully diluted equity interests in Cornerstone Pharmaceuticals (the “Warrant”). The exercise price of the Warrant is the lower of 70% of the price sold in an equity financing, or $1.25 per share, subject to certain adjustments. On March 25, 2020, the Board of Directors of Cornerstone Pharmaceuticals extended the expiration date of the Warrant held by Pharma Holdings to purchase shares of the Warrant from December 31, 2020 to June 30, 2021, and on August 31, 2020 the Board of Directors of Cornerstone Pharmaceuticals further extended the expiration date of the Warrant held by Pharma Holdings, LLC to purchase shares of the Warrant to August 15, 2021. In connection with the Merger Agreement, the Warrant expiration was extended to April 1, 2022. The Company has asserted that it may be entitled to a further extension of the Warrant. At this time, the Company does not intend to exercise the Warrant. Pharma Holdings also holds certain governance rights in Cornerstone Pharmaceuticals including appointment of directors. Pharma Holdings is not the primary beneficiary of Cornerstone Pharmaceuticals as it does not control or direct the activities of Cornerstone Pharmaceuticals that most significantly impact Cornerstone Pharmaceuticals’ economic performance. CS Pharma holds 16.7 million shares of Cornerstone Pharmaceuticals Series D Convertible Preferred Stock. CS Pharma owned a $10 million Series D Convertible Note, with 3.5% interest, in Cornerstone Pharmaceuticals which was converted to shares of Series D Preferred Stock in January 2019. The Company and its subsidiaries collectively own securities representing 51% of the outstanding capital stock of Cornerstone Pharmaceuticals and 42% of the capital stock on a fully diluted basis (excluding the remainder of the Warrant). The Series D Convertible Preferred Stock has a stated value of $1.25 per share (subject to appropriate adjustment to reflect any stock split, combination, reclassification or reorganization of the Series D Preferred Stock or any dilutive issuances, as described below). Holders of Series D Stock are entitled to receive non-cumulative dividends when, as and if declared by the Board of Cornerstone Pharmaceuticals, prior to any dividends to any other class of capital stock of Cornerstone Pharmaceuticals. In the event of any liquidation, dissolution or winding up of Cornerstone Pharmaceuticals, or in the event of any deemed liquidation, proceeds from such liquidation, dissolution or winding up shall be distributed first to the holders of Series D Stock. Except with respect to certain major decisions, or as required by law, holders of Series D Stock vote together with the holders of the other preferred stock and common stock and not as a separate class. The Company serves as the managing member of Pharma Holdings, and Pharma Holdings serves as the managing member of CS Pharma, with broad authority to make all key decisions regarding their respective holdings. Any distributions that are made to CS Pharma from Cornerstone Pharmaceuticals that are in turn distributed by CS Pharma, will need to be made pro rata to all members, which would entitle Pharma Holdings to 50% (based on current ownership) of such distributions. Similarly, if Pharma Holdings were to distribute proceeds it receives from CS Pharma, it would do so on a pro rata basis, entitling the Company to 90% (based on current ownership) of such distributions. The Company evaluated its investments in Cornerstone Pharmaceuticals in accordance with ASC 323, Investments - Equity Method and Joint Ventures, The Company has determined that Cornerstone Pharmaceuticals is a VIE; however, the Company has determined that it is not the primary beneficiary as it does not have the power to direct the activities of Cornerstone Pharmaceuticals that most significantly impact Cornerstone Pharmaceuticals’ economic performance. In addition, the interests held in Cornerstone Pharmaceuticals are Series D Convertible Preferred Stock and do not represent in-substance common stock. The Instrument holds a contractual right to receive additional shares of Cornerstone Pharmaceuticals capital stock equal to 10% of the fully diluted capital stock of Cornerstone Pharmaceuticals (the “Bonus Shares”) upon the achievement of certain milestones. The additional 10% is based on the fully diluted capital stock of Cornerstone Pharmaceuticals, excluding the remainder for the Warrant, at the time of issuance. If any of the milestones are met, the Bonus Shares are to be issued without any additional payment. Pharma Holdings holds the Warrant as well as other equity and governance rights in Cornerstone Pharmaceuticals. The Company currently owns 51% of the issued and outstanding equity in Cornerstone Pharmaceuticals. Approximately 8% of the issued and outstanding equity is owned by the Company’s subsidiary CS Pharma and 43% is held by the Company’s subsidiary Pharma Holdings. The Company’s subsidiary Pharma Holdings holds the Warrant. The Instrument holds 10% of the interest in Pharma Holdings and would need to contribute 10% of any cash necessary to exercise any portion of the Warrant. Following any exercise, a portion of the Company’s interest in Cornerstone Pharmaceuticals would continue to be held for the benefit of the other equity holders in Pharma Holdings and CS Pharma. Cornerstone Pharmaceuticals may also issue additional equity interests, such as employee stock options, which will require the Company to pay additional cash to maintain the Company’s ownership percentage or exercise the Warrant in full. The terms of the Warrant provide that it expired on April 1, 2022; however, the Company has asserted that it may be entitled to a further extension of the Warrant. At this time, the Company does not intend to exercise the Warrant. On January 28, 2021, Pharma Holdings partially exercised the Warrant to maintain the 51% ownership percentage and purchased 7.3 million shares of Cornerstone Pharmaceuticals’ Series D Preferred Stock for $9.1 million, of which $0.9 million was contributed by the holder of a minority interest in Pharma Holdings. Due to the Data Events, on October 28, 2021, the Company recorded an impairment charge of approximately $79.1 million related to the cost method investment in Cornerstone Pharmaceuticals representing the total amount of the Company’s cost method investment. The impairment loss was included in “Impairment of cost method investment – Cornerstone Pharmaceuticals” in the consolidated statements of operations and comprehensive income (loss) for the three months ended October 31, 2021. Approximately $17.3 million of the total impairment loss of $79.1 million was applicable to noncontrolling interests in certain of the Company’s subsidiaries and was allocated to the holders of interests in CS Pharma and Pharma Holdings in the approximate amounts of $10.4 million and $6.9 million, respectively. Line of Credit to Cornerstone Pharmaceuticals and Impairment of Related Receivable On September 24, 2021, the Company entered into a Line of Credit Loan Agreement (the “Line of Credit Agreement”) with Cornerstone Pharmaceuticals under which Cornerstone Pharmaceuticals borrowed $25 million from the Company. The first advance was in the amount of $1.9 million on September 24, 2021. On October 1, 2021, a second advance was made in the amount of $23.1 million. The Line of Credit Agreement accrues interest at 9% per annum. The maturity date of the Line of Credit Agreement was June 17, 2022, and the amounts due on that date were not paid. The Company is in discussions with Cornerstone Pharmaceuticals and is evaluating its rights and plan of action with respect to the Line of Credit Agreement (in the contexts of all of its interests in Cornerstone Pharmaceuticals). Due to the Data Events, the Company recorded a full reserve on the amounts due the Company from Cornerstone Pharmaceuticals related to the Line of Credit Agreement for $25 million during the three months ended October 31, 2021. The Company also recorded a loss on related party receivables of approximately $0 and $908 thousand related to other amounts owed by Cornerstone Pharmaceuticals during the three months ended October 31, 2022 and 2021, respectively.

Investment in RP Finance, LLC

Investment in RP Finance, LLC	3 Months Ended
	Oct. 31, 2022
Investment in RP Finance, LLC [Abstract]
INVESTMENT IN RP FINANCE, LLC	NOTE 5 – INVESTMENT IN RP FINANCE, LLC On February 3, 2020, Cornerstone Pharmaceuticals entered into a Line of Credit Loan Agreement (“RPF Line of Credit”) with RP Finance which provides a revolving commitment of up to $50,000,000 to fund clinical trials and other capital needs. The Company owns 37.5% of the equity interests in RP Finance and is required to fund 37.5% of funding requests from Cornerstone Pharmaceuticals under the RPF Line of Credit. The Instrument owns 37.5% of the equity interests in RP Finance, and is required to fund 37.5% of funding requests from Cornerstone Pharmaceuticals under the RPF Line of Credit. The remaining 25% equity interests in RP Finance are owned by other shareholders of Cornerstone Pharmaceuticals. Under the RPF Line of Credit, all funds borrowed will bear interest at the mid-term Applicable Federal Rate published by the U.S. Internal Revenue Service. The maturity date is the earliest of February 3, 2025, upon a change of control of Cornerstone Pharmaceuticals or a sale of Cornerstone Pharmaceuticals or its assets. Cornerstone Pharmaceuticals can draw on the facility on 60 days’ notice. The funds borrowed under the RPF Line of Credit must be repaid out of certain proceeds from equity sales by Cornerstone Pharmaceuticals. In connection with entering into the Line of Credit Agreement, Cornerstone Pharmaceuticals agreed to issue to RP Finance shares of its common stock representing 12% of the issued and outstanding shares of Cornerstone Pharmaceuticals common stock, with such interest subject to anti-dilution protection as set forth in the RPF Line of Credit. The Company has determined that RP Finance is a VIE; however, the Company has determined that it is not the primary beneficiary as the Company does not have the power to direct the activities of RP Finance that most significantly impact RP Finance’s economic performance and, therefore, is not required to consolidate RP Finance. Therefore, the Company will use the equity method of accounting to record its investment in RP Finance. The Company has recognized $0 and a loss of $575 thousand from its ownership interests of 37.5% in RP Finance for the three months ended October 31, 2022 and 2021, respectively. The assets and operations of RP Finance are not significant and the Company has identified the equity investment in RP Finance as a related party transaction (see Note 13). In August 2020, Cornerstone Pharmaceuticals called for a $5 million draw on the RPF Line of Credit and the facility was funded by RP Finance in the amount of $5 million. In November 2020, Cornerstone Pharmaceuticals called for a second $5 million draw on the RPF Line of Credit and the facility was funded by RP Finance in the amount of $5 million. In June 2021 and July 2021, Cornerstone Pharmaceuticals called for a total aggregate of $10 million in draws on the line of RPF Line of Credit and the facility was funded by RP Finance in the amount of $10 million. In September 2021, Cornerstone Pharmaceuticals called for a $5 million draw on the RPF Line of Credit and the facility was funded by RP Finance LLC in the amount of $5 million. As of October 31, 2022, the Company has funded a cumulative total of $9.375 million in accordance with its 37.5% ownership interests in RP Finance. Impairment of Equity Method Investment Due to the Data Events, during the three months ended October 31, 2021, the Company recorded equity in the loss of RP Finance of $575 thousand. As of October 31, 2022, the equity method investment on the Company’s balance sheet was $0, and no additional equity loss of RP Finance was recorded during the three months ended October 31, 2022. The Company was not obligated to guarantee obligations of RP Finance and is not committed to provided further financial support for RP Finance. Additionally, during three months ended October 31, 2021, the Company recorded a loss on related party receivables of $9.375 million related to amounts owed by RP Finance.

Investment in LipoMedix Pharmac

Investment in LipoMedix Pharmaceuticals Ltd.	3 Months Ended
	Oct. 31, 2022
Business Combinations [Abstract]
INVESTMENT IN LIPOMEDIX PHARMACEUTICALS LTD.	NOTE 6 – INVESTMENT IN LIPOMEDIX PHARMACEUTICALS LTD. LipoMedix is a development-stage, privately held Israeli company focused on the development of an innovative, safe and effective cancer therapy based on liposome delivery. As of October 31, 2022, the Company held 84% of the issued and outstanding ordinary shares of LipoMedix and has consolidated this investment from the second quarter of fiscal 2018. In March 2021, the Company provided bridge financing in the principal amount of up to $400,000 to LipoMedix with a maturity date of September 1, 2021, and an interest rate of 8% per annum. As of September 1, 2021, LipoMedix was in default on the terms of the loan and as such, the interest rate has increased to 15% per annum. On November 15, 2021, the Company entered into a share purchase agreement with LipoMedix to purchase up to 15,975,000 ordinary shares at $0.1878 per share for an aggregate purchase price of $3.0 million (the “Share Purchase Agreement”). Additionally, LipoMedix issued the Company a warrant to purchase up to 15,975,000 ordinary shares at an exercise price of $0.1878 per share which expires on November 11, 2022. As of the date of the Share Purchase Agreement, there was an outstanding loan balance including principal of $400 thousand and accrued interest of $21.8 thousand owed by LipoMedix to the Company on the note from March 2021. The amount due on the loan was netted against the approximately $3.0 million aggregate purchase price due to LipoMedix, resulting in a cash payment by the Company of approximately $2.6 million in exchange for the 15,975,000 shares purchased. As a result of the share purchase, the Company’s ownership of LipoMedix increased to approximately 84% with a noncontrolling interest of approximately 16%. The Company recorded approximately $8 thousand to adjust the carrying amount of the noncontrolling interest to reflect the Company’s increased ownership interest in LipoMedix’s net assets.

Investments in Marketable Secur

Investments in Marketable Securities	3 Months Ended
	Oct. 31, 2022
Investments in Marketable Securities [Abstract]
INVESTMENTS IN MARKETABLE SECURITIES	NOTE 7 – INVESTMENTS IN MARKETABLE SECURITIES The Company has classified its investments in corporate bonds and U.S. treasury bills as available-for-sale securities. These securities are carried at estimated fair value with unrealized holding gains and losses included in accumulated other comprehensive loss in stockholders’ equity until realized. Investment transactions are recorded on their trade date. Gains and losses on marketable security transactions are reported on the specific-identification method. Interest income is accrued daily and adjusted for amortization of premiums and accretion of discounts on the corporate bonds and U.S. treasury bills. The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value for available-for-sale securities as of October 31, 2022 and July 31, 2022 are as follows: October 31, 2022 Amortized cost Gross Gross Fair value (in thousands) Available-for-sale securities: U.S. Treasury Bills $ 16,194 $ 11 $ — $ 16,205 Corporate bonds 54,780 224 (195 ) 54,809 Total available-for-sale securities $ 70,974 $ 235 $ (195 ) $ 71,014 July 31, 2022 Amortized cost Gross Gross Fair value (in thousands) Available-for-sale securities: Corporate bonds $ 36,761 $ 81 $ (144 ) $ 36,698 Total available-for-sale securities $ 36,761 $ 81 $ (144 ) $ 36,698 During the three months ended October 31, 2022, the Company reclassified approximately $15 thousand of unrealized gains out of accumulated other comprehensive loss related to maturities of available-for-sale securities into consolidated net loss in the consolidated statements of operations and comprehensive income (loss) in realized gain on available-for-sale securities. Maturities of corporate bonds and U.S. Treasury Bills held as of October 31, 2022 were all due within one year. Marketable securities in an unrealized loss position as of October 31, 2022 were not deemed impaired at acquisition and subsequent declines in fair value are not deemed attributed to declines in credit quality. The Company believes that it is more likely than not that it will receive a full recovery of par value on the securities, although there can be no assurance that such recovery will occur.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Oct. 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 8 – FAIR VALUE MEASUREMENTS Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value: ● Level 1 ● Level 2 ● Level 3 The determination of where assets and liabilities fall within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following is a listing of the Company’s assets required to be measured at fair value on a recurring basis and where they are classified within the fair value hierarchy as of October 31, 2022 and July 31, 2022: October 31, 2022 Level 1 Level 2 Level 3 Total (in thousands) Assets: Available-for-sale securities - Corporate Bonds $ — $ 54,809 $ — $ 54,809 Available-for-sale securities - U.S. Treasury Bills 16,205 — — 16,205 Hedge funds — — 4,637 4,637 Total $ 16,205 $ 54,809 $ 4,637 $ 75,651 July 31, 2022 Level 1 Level 2 Level 3 Total (in thousands) Assets: Available-for-sale securities $ — $ 36,698 $ — $ 36,698 Hedge funds — — 4,764 4,764 Total $ — $ 36,698 $ 4,764 $ 41,462 As of October 31, 2022 and July 31, 2022, the Company did not have any liabilities measured at fair value on a recurring basis. The following table summarizes the changes in the fair value of the assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Three Months Ended 2022 2021 (in thousands) Balance, beginning of period $ 4,764 $ 5,268 Total (loss) gain included in earnings (127 ) 211 Balance, end of period $ 4,637 $ 5,479 Hedge funds classified as Level 3 include investments and securities which may not be based on readily observable data inputs. The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. The fair value of these assets is estimated based on information provided by the fund managers or the general partners. Therefore, these assets are classified as Level 3. The Company holds $0.3 million in investments in securities in another entity that are not liquid, which were included in Investments - Other Pharmaceuticals in the accompanying consolidated balance sheets. The investment is accounted for under ASC 321, Investments - Equity Securities Fair Value of Other Financial Instruments The estimated fair value of the Company’s other financial instruments was determined using available market information or other appropriate valuation methodologies. However, considerable judgment is required in interpreting these data to develop estimates of fair value. Consequently, the estimates are not necessarily indicative of the amounts that could be realized or would be paid in a current market exchange. Marketable securities. Other assets and other liabilities. The Company’s financial instruments include trade accounts receivable, trade accounts payable, and due from related parties. The recorded carrying amounts of trade accounts receivable, trade accounts payable and due from related parties approximate their fair value due to their short-term nature.

Trade Accounts Receivable

Trade Accounts Receivable	3 Months Ended
	Oct. 31, 2022
Receivables [Abstract]
TRADE ACCOUNTS RECEIVABLE	NOTE 9 – TRADE ACCOUNTS RECEIVABLE Trade Accounts Receivable consisted of the following: October 31, July 31, (in thousands) Trade Accounts Receivable $ 254 $ 196 Accounts Receivable - Related Party 123 158 Less Allowance for Doubtful Accounts (242 ) (197 ) Trade Accounts Receivable, net $ 135 $ 157

Property and Equipment

Property and Equipment	3 Months Ended
	Oct. 31, 2022
Property and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 10 – PROPERTY AND EQUIPMENT Property and equipment consisted of the following: October 31, July 31, 2022 2022 (in thousands) Building and Improvements $ 2,505 $ 2,505 Other 68 68 2,573 2,573 Less Accumulated Depreciation (822 ) (803 ) Total $ 1,751 $ 1,770 Other property and equipment consist of other equipment and miscellaneous computer hardware. Depreciation expense pertaining to property and equipment was approximately $22 thousand and $19 thousand for the three months ended October 31, 2022 and 2021, respectively. The Company’s headquarters are located at 520 Broad Street in Newark, New Jersey, where it occupies office space and which was previously owned by the Company. The table above exclude the assets of the 520 Property which were classified as held-for-sale as of July 31, 2022 and subsequently sold on August 22, 2022. Refer to Note 3 for further information on the 520 Property.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	Oct. 31, 2022
Earnings (Loss) Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	NOTE 11 – EARNINGS (LOSS) PER SHARE Basic earnings (loss) per share is computed by dividing net income (loss) attributable to all classes of common stockholders of the Company by the weighted average number of shares of all classes of common stock outstanding during the applicable period. Diluted earnings (loss) per share includes potentially dilutive securities such as stock options, unvested restricted stock, warrants to purchase common stock, and other convertible instruments unless the result of inclusion would be anti-dilutive. The securities set forth below have been excluded from the calculation of diluted net loss per share for the three months ended October 31, 2022 and 2021 because inclusion of all such securities would have been anti-dilutive for all periods presented. The following table summarizes the Company’s potentially dilutive securities, in common share equivalents, which have been excluded from the calculation of dilutive loss per share as their effect would be anti-dilutive: Three Months Ended 2022 2021 Shares issuable upon exercise of stock options 1,021,277 960,554 Shares issuable upon vesting of restricted stock 1,461,934 1,004,265 Shares issuable upon exercise of warrants to purchase Class B common stock — 26,189 2,483,211 1,991,008 The diluted earnings (loss) per share computation equals basic loss per share for the three months ended October 31, 2022 and 2021 because the Company had a net loss from continuing operations in all such periods and the impact of the assumed exercise of non-vested restricted shares, stock options, and warrants would have been anti-dilutive. The following table summarized the basic and diluted earnings (loss) per share calculations: Three Months Ended 2022 2021 (in thousands) Numerator: Net loss from continuing operations $ (5,207 ) $ (128,868 ) Net loss attributable to noncontrolling interests (99 ) (17,387 ) Numerator for net loss from continuing operations (5,108 ) (111,481 ) Numerator for discontinued operations 6,700 (543 ) Net income (loss) attributable to Rafael Holdings, Inc. $ 1,592 $ (112,024 ) Denominator: Weighted average basic and diluted shares outstanding 23,015,443 18,948,084 Earnings (loss) per share attributable to common shareholders Basic and diluted: Continuing operations $ (0.22 ) $ (5.88 ) Discontinued operations 0.29 (0.03 ) Total basic and diluted earnings (loss) per share $ 0.07 $ (5.91 )

Note Payable, Held-For-Sale

Note Payable, Held-For-Sale	3 Months Ended
	Oct. 31, 2022
Debt Disclosure [Abstract]
NOTE PAYABLE, HELD-FOR-SALE	NOTE 12 – NOTE PAYABLE, HELD-FOR-SALE On July 9, 2021, the Company, as guarantor, Rafael Holdings Realty, Inc., a wholly-owned subsidiary of the Company (“Realty”), as pledgor, and Broad-Atlantic Associates, LLC, a wholly-owned subsidiary of Realty (the “Borrower,” and together with the Company and Realty, the “Borrower Parties”), as borrower, entered into a loan agreement (the “Loan Agreement”) with 520 Broad Street LLC, a third-party lender (the “Lender”). The Loan Agreement provided for a loan in the amount of $15 million (the “Note Payable”) from Lender to Borrower secured by (i) a first mortgage on 520 Broad Street, Newark, New Jersey 07102; and (ii) a first priority security interest in the equity of the Borrower as set forth in the Pledge and Security Agreement between Realty and Lender. The Note Payable bore interest at a rate per annum equal to seven and one-quarter percent (7.25%) from July 9, 2021 through July 31, 2021 and thereafter at an interest rate per annum equal to the 30-day LIBOR Rate, as published in The Wall Street Journal The Loan Agreement contained customary affirmative covenants, negative covenants and events of default, as defined in the Loan Agreement, including covenants and restrictions that, among other things, restricted the Borrower’s ability to incur liens, or transfer, lease or sell the collateral as defined in the Loan Agreement. A failure to comply with these covenants would have permitted the Lender to declare the Borrower’s obligations under the Loan Agreement, together with accrued interest and fees, to be immediately due and payable. The Company was in compli In connection with the sale of the 520 Property, on August 22, 2022, the Company paid off the outstanding principal balance of $15 million and accrued interest of approximately $87,000 on the Note Payable. Refer to Note 3 for further details on the subsequent sale of the 520 Property. Interest expense under the Note Payable, which is recognized in loss on discontinued operati Unamortized debt issuance costs on the Note Payable totaled approximately $0 and $347 thousand as of October 31, 2022 and 2021, respectively. Amortization of the debt discount on the Note Payable totaled approximately $0 thousand and $125 thousand for the three months ended October 31, 2022 and 2021, respectively.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Oct. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 13 – RELATED PARTY TRANSACTIONS IDT Corporation The Company has historically maintained an intercompany balance due to/from related parties that relates to cash advances for investments, loan repayments, charges for services provided to the Company by IDT Corporation, or IDT, and payroll costs for the Company’s personnel that were paid by IDT. The Company also receives rental income from various companies under common control to IDT. The Company recorded expense of approximately $68 thousand and $75 thousand in related party services to IDT for the three months ended October 31, 2022 and 2021, respectively, of which approximately $44 thousand and $75 thousand is included in Due to Related Parties at October 31, 2022 and 2021, respectively. IDT leased approximately 80,000 square feet of office space plus parking at 520 Broad Street, Newark, New Jersey and leases approximately 3,600 square feet of office space in Jerusalem, Israel. The Company invoiced IDT approximately $129 thousand of which approximately $102 thousand is included in discontinued operations and $469 thousand of which approximately $441 thousand is included in discontinued operations for office rent and parking during the three months ended October 31, 2022 and 2021, respectively. As of October 31, 2022 and 2021, IDT owed the Company approximately $2 thousand and $675 thousand, respectively, for office rent and parking. Cornerstone Pharmaceuticals The Company had provided Cornerstone Pharmaceuticals with administrative, finance, accounting, tax and legal services. Howard S. Jonas currently serves on the Board of Directors of Cornerstone Pharmaceuticals and owns an equity interest in Cornerstone Pharmaceuticals. The Company billed Cornerstone Pharmaceuticals $120 thousand for the three months ended October 31, 2021. As of October 31, 2022 and July 31, 2022, Cornerstone Pharmaceuticals owed the Company $720 thousand, for which a full allowance for uncollectibility has been recorded. Due to the Data Events, in the three months ended October 31, 2021, the balance owed to the Company by Cornerstone Pharmaceuticals was fully reserved, resulting in a loss on related party receivable of $720 thousand (see Note 4). Related Party Rental Income The Company leased space to related parties (including IDT Corporation - see above) which represented approximately 44% and 63% for the three months ended October 31, 2022 and 2021, respectively. The portion of related party rental income pertaining to the 520 Property has been classified in discontinued operations on the consolidated statements of operations and comprehensive income (loss) for the three months ended October 31, 2022 and 2021. RP Finance For the three months ended October 31, 2022 and 2021, respectively, the Company recognized a loss of $0 thousand and earnings of $575 thousand in income from its ownership interests of 37.5% in RP Finance, respectively. Howard Jonas, Chairman of the Board and Former Chief Executive Officer In December 2020, two entities, on whose Boards of Directors Howard Jonas, the Company’s Chairman of the Board and Executive Chairman and former Chief Executive Officer serves, each purchased 218,245 shares of Class B common stock for consideration of $5 million each. In connection with the purchases, each purchaser was granted warrants (the “Issued Warrants”) to purchase twenty percent (20%) of the shares of Class B common stock purchased by such purchaser. The Issued Warrants have an exercise price of $22.91 per share and expired on June 6, 2022. The Issued Warrants were not exercised. The shares and Issued Warrants were issued in reliance on the exemption from registration provided for under Section 4(a)(2) of the Securities Act of 1933, as amended. On June 22, 2022, the Company entered into a Stock Purchase Agreement (the “I9 SPA”) with I9 Plus, LLC. On July 6, 2022, pursuant to the I9 SPA, the Company sold 3,225,806 shares of the Company’s Class B common stock to I9 Plus, LLC at a price per share of $1.86 and an aggregate sale price of $6 million. LipoMedix Pharmaceuticals, Ltd. As of the date of the Share Purchase Agreement, on November 15, 2021, there was an outstanding loan balance including principal of $400 thousand and accrued interest of $21.8 thousand owed by LipoMedix to the Company on the note from March 2021. The amount due on the loan was netted against the $3.0 million aggregate purchase price due LipoMedix, resulting in a cash payment by the Company of approximately $2.6 million in exchange for the 15,975,000 shares purchased. As a result of the share purchase, the Company’s ownership of LipoMedix increased to approximately 84% with a noncontrolling interest of approximately 16%.

Income Taxes

Income Taxes	3 Months Ended
	Oct. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 14 – INCOME TAXES During the three months ended October 31, 2022 and 2021, the Company recognized an income tax provision of $5 thousand on loss from continuing operations before income tax of $5.2 million, and $0 on a loss from continuing operations before income tax of $128.8 million, respectively. The change in income tax expense in relation to the loss before income tax during the three months ended October 31, 2022 compared to the three months ended October 31, 2021 was primarily due to differences in the amount of taxable (loss) income in the various taxing jurisdictions and the associated valuation allowances. As of October 31, 2022 and 2021, the Company recorded valuation allowances for the total deferred tax asset balances. The Company anticipates that its assumptions and estimates may change as a result of future guidance and interpretation from the Internal Revenue Service, the SEC, the FASB, and various other taxing jurisdictions. In particular, the Company anticipates that the U.S. state jurisdictions will continue to determine and announce their conformity with or decoupling from the Tax Act, either in its entirety or with respect to specific provisions. Legislative and interpretive actions could result in adjustments to the Company’s balances.

Business Segment Information

Business Segment Information	3 Months Ended
	Oct. 31, 2022
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	NOTE 15 – BUSINESS SEGMENT INFORMATION The Company conducts business as two operating segments, Healthcare and Real Estate. The Company’s reportable segments are distinguished by types of service, customers and methods used to provide their services. The operating results of these business segments are regularly reviewed by the Company’s Chief Executive Officer and the chief operating decision-maker. The accounting policies of the segments are the same as the accounting policies of the Company as a whole. The Company evaluates the performance of its Healthcare segment based primarily on research and development efforts and results of clinical trials and the Real Estate segment based primarily on results of operations. All investments in Cornerstone Pharmaceuticals and assets and expenses associated with LipoMedix, Barer, Farber, and Rafael Medical Devices are tracked separately in the Healthcare segment. The Healthcare segment is comprised of preferred and common equity interests and the Warrant to purchase equity interests in Cornerstone Pharmaceuticals, a majority equity interest in LipoMedix, Barer, Farber, and Rafael Medical Devices. To date, the Healthcare segment has not generated any revenues. The Real Estate segment consists of the Company’s real estate holdings, comprised of a portion of a commercial building in Israel. Operating results for the business segments of the Company are as follows: (in thousands) Healthcare Real Estate Total Three Months Ended October 31, 2022 Revenues $ — $ 70 $ 70 (Loss) income from operations (5,164 ) 22 (5,142 ) (Loss) income from continuing operations before income taxes (5,224 ) 22 (5,202 ) Three Months Ended October 31, 2021 Revenues $ — $ 191 $ 191 (Loss) income from operations (49,659 ) 121 (49,538 ) (Loss) income from continuing operations before income taxes (128,414 ) 121 (128,293 ) Geographic Information Revenues from tenants located outside of the United States were generated entirely from related parties located in Israel. Revenues from these non-United States customers as a percentage of total revenues were as follows (revenues by country are determined based on the location of the related facility): Three Months Ended October 31, 2022 2021 Revenue from tenants located in Israel 22 % 7 % Net long-lived assets and total assets held outside of the United States, which are located in Israel, were as follows: (in thousands) United States Israel Total October 31, 2022 Long-lived assets, net $ 302 $ 1,449 $ 1,751 Total assets 99,171 4,045 103,216 July 31, 2022 Long-lived assets, net $ 305 $ 1,465 $ 1,770 Total assets 114,053 4,267 118,320

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Oct. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 16 – COMMITMENTS AND CONTINGENCIES Legal Proceedings The Company may from time to time be subject to legal proceedings that may arise in the ordinary course of business. Although there can be no assurance in this regard, the Company does not expect any of those legal proceedings to have a material adverse effect on the Company’s results of operations, cash flows or financial condition.

Equity

Equity	3 Months Ended
	Oct. 31, 2022
Stockholders' Equity Note [Abstract]
EQUITY	NOTE 17 – EQUITY Class A Common Stock and Class B Common Stock The rights of holders of Class A common stock and Class B common stock are identical except for certain voting and conversion rights and restrictions on transferability. The holders of Class A common stock and Class B common stock receive identical dividends per share when and if declared by the Company’s Board of Directors. In addition, the holders of Class A common stock and Class B common stock have identical and equal priority rights per share in liquidation. The Class A common stock and Class B common stock do not have any other contractual participation rights. The holders of Class A common stock are entitled to three votes per share and the holders of Class B common stock are entitled to one-tenth of a vote per share. Each share of Class A common stock may be converted into one share of Class B common stock, at any time, at the option of the holder. Shares of Class A common stock are subject to certain limitations on transferability that do not apply to shares of Class B common stock. On May 27, 2021, the Company filed a Registration Statement on Form S-3, whereby the Company may sell up to $250 million of Class B common stock. This Registration Statement was declared effective on June 7, 2021. On June 1, 2021, the Company filed a Registration Statement on Form S-3 to issue 48,859 shares of Class B common stock for payment due on the purchase of Altira, an investment which has been subsequently fully impaired. On August 19, 2021, the Company entered into a Securities Purchase Agreement (the “Institutional Purchase Agreement”) with Institutional Investors and a Securities Purchase Agreement with I9Plus, LLC, (the “Jonas Purchase Agreement”), an entity affiliated with Howard S. Jonas, the Chairman of the Board of Directors of the Company. On August 24, 2021, the Company issued 2,833,425 shares of Class B common stock (the “Institutional Shares”), par value $0.01 per share, to the Institutional Investors, at a purchase price equal to $35.00 per share, for aggregate gross proceeds of approximately $99.2 million, before deducting placement agent fees and other offering expenses. Additionally, pursuant to the Jonas Purchase Agreement, the Company issued 112,501 shares of Class B common stock to I9Plus, LLC, at a purchase price equal to $44.42 per share, which was equal to the closing price of a share of the Class B common stock on the New York Stock Exchange on August 19, 2021 (the “Jonas Offering”). The Jonas Offering resulted in additional aggregate gross proceeds of approximately $5.0 million. The total net proceeds from the issuance of shares was $98.0 million after deducting transaction costs of $6.2 million. On August 19, 2021, in connection with the Institutional Purchase Agreement, the Company entered into a Registration Rights Agreement with the Institutional Investors whereby the Company agreed to prepare and file a registration statement with the SEC within 30 days after the earlier of (i) the date of the closing of the Merger Agreement, and (ii) the date the Merger Agreement is terminated in accordance with its terms, for purposes of registering the resale of the Institutional Shares and any shares of Class B common stock issued as a dividend or other distribution with respect to the Institutional Shares. On January 19, 2022, the Company’s stockholders approved the 2021 Equity Incentive Plan (the “2021 Plan”). The 2018 Equity Incentive Plan was suspended and replaced by the 2021 Plan, and, following January 19, 2022, no new grants are to be awarded under the 2018 Equity Incentive Plan. Existing grants under the 2018 Equity Incentive Plan will not be impacted by the adoption of the 2021 Plan. Any of the Company’s employees, directors, consultants, and other service providers, and those of the Company’s affiliates, are eligible to participate in the 2021 Plan. In accordance with applicable tax rules, only employees (and the employees of parent or subsidiary corporations) are eligible to be granted incentive stock options. The 2021 Plan authorizes stock options (both incentive stock options or non-qualified stock options), stock appreciation rights, restricted stock, restricted stock units, and cash or other stock-based awards. The maximum number of shares of Class B common stock that may be issued under the 2021 Plan is 1,919,025 shares. On January 19, 2022, the Company filed a Registration Statement on Form S-8 registering 1,919,025 shares Class B Common Stock reserved for issuance under the 2021 Plan. During three months ended October 31, 2022, no restricted shares or options were issued pursuant to the 2021 Plan, respectively. As of October 31, 2022, there were 229,697 shares still available for issuance under the 2021 Plan. On November 28, 2022, the Company’s Board of Directors approved an amendment to the 2021 Plan that, among other things, increases the number of shares of the Company’s Class B Common Stock available for the grant of awards thereunder by an additional 696,770, subject to stockholders’ approval. On February 15, 2022, the Company filed a Registration Statement on Form S-3 (as amended on March 2, 2022) registering the resale by institutional investors (the “Institutional Investors”) of the shares purchased by them. The Registration Statement was declared effective on March 7, 2022. Stock Options A summary of stock option activity for the Company is as follows: Number of Weighted Weighted Aggregate Outstanding at July 31, 2022 1,021,277 $ 12.11 4.47 $ — Granted — — — — Cancelled / Forfeited — — — — Outstanding at October 31, 2022 1,021,277 $ 12.11 4.22 $ — Exercisable at October 31, 2022 594,607 $ 6.69 0.80 $ — At October 31, 2022, there are unrecognized compensation costs related to non-vested stock options of $3.9 million, which are expected to be recognized over the next 3.9 years. The value of option grants is calculated using the Black-Scholes option pricing model with the following assumptions for options granted during the three months ended October 31, 2021: October 31, Risk-free interest rate 0.67% - 1.16 % Expected term (in years) 6.04 Expected volatility 75 % Expected dividend yield — % Rafael Medical Devices, Inc. Stock Options The Rafael Medical Devices, Inc. 2022 Equity Incentive Plan (the “RMD 2022 Plan”) was created and adopted by the Company in May 2022. The RMD 2022 Plan allows for the issuance of up to 10,000 shares of Class B common stock which may be awarded in the form of incentive stock options or restricted shares. There are 4,734 shares available for issuance under the RMD 2022 Plan as of October 31, 2022. A summary of stock option activity for Rafael Medical Devices, Inc. is as follows: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Outstanding at July 31, 2022 5,266 $ 3.82 9.76 $ — Granted — — — — Outstanding at October 31, 2022 5,266 $ 3.82 9.51 — Exercisable at October 31, 2022 1,316 $ 3.82 9.51 $ — At October 31, 2022, there are unrecognized compensation costs related to non-vested stock options of $10 thousand, which are expected to be recognized over the next 2.18 years. Restricted Stock The fair value of restricted shares of the Company’s Class B common stock is determined based on the closing price of the Company’s Class B common stock on the grant date. Share awards generally vest on a graded basis over three years of service. In January 2021, the Company granted a total of 12,609 restricted shares of Class B common stock to non-employee directors, all of which were granted from the 2018 Equity Incentive Plan. The restricted shares vested immediately on the grant date. The share based compensation cost was approximately $286 thousand, which was included in general and administrative expense in the consolidated statement of operations and comprehensive income (loss). In January 2022, the Company granted 33,360 restricted shares of Class B common stock to non-employee directors, 18,336 of which were granted from under 2018 Equity Incentive Plan, and 15,024 of which were granted under the 2021 Plan. The restricted shares vested immediately on the grant date. The share based compensation cost was approximately $151 thousand, which was included in general and administrative expense in the consolidated statement of operations and comprehensive income (loss). On February 1, 2022, the Company issued 986,835 shares of Class B restricted stock to two members of the executive team. Approximately 24% of the restricted shares vest in December 2022, with the remaining shares vesting ratably each quarter through December 2025. On June 14, 2022, the Company issued 452,130 shares of Class B restricted stock to Howard S. Jonas. A summary of the status of the Company’s grants of restricted shares of Class B common stock is presented below: Number of Weighted Outstanding at July 31, 2022 1,507,373 $ 4.22 Granted — — Vested (45,439 ) 4.04 Cancelled / Forfeited — — Non-vested shares at October 31, 2022 1,461,934 $ 4.22 At October 31, 2022, there was $3.9 million of total unrecognized compensation cost related to non-vested stock-based compensation arrangements, which is expected to be recognized over the next three years. A summary of the stock-based compensation expense for the Company’s equity incentive plans is presented below: Three Months Ended 2022 2021 (in thousands) General and administrative $ 1,083 $ 7,668 Research and development 97 183 Net stock-based compensation expense $ 1,180 $ 7,851

Leases

Leases	3 Months Ended
	Oct. 31, 2022
Leases [Abstract]
LEASES	NOTE 18 – LEASES The Company is the lessor of the Israeli property which is leased to tenants under net operating leases with a term expiration date within 2025. Lease income included on the consolidated statements of operations and comprehensive income (loss) was $0.1 million and $0.1 million for the three months ended October 31, 2022 and 2021, respectively. During the three months ended October 31, 2022 and 2021, no real estate property taxes were included in rental income. The future contractual minimum lease payments to be received (excluding operating expense reimbursements) by the Company as of October 31, 2022, under non-cancellable operating leases which expire on various dates through 2028 are as follows: Year ending July 31, Related Parties Other Total (in thousands) 2023 (remaining) $ 57 $ — $ 57 2024 77 — 77 2025 78 — 78 Total Minimum Future Rental Income $ 212 $ — $ 212 A related party has the right to terminate the Israeli lease upon four months’ notice. The minimum future rental income pertaining to the 520 Property has been excluded from the table above as it has been classified as discontinued operations for the three months ended October 31, 2022 and 2021.

Subsequent Events

Subsequent Events	3 Months Ended
	Oct. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 19 – SUBSEQUENT EVENTS In November 2022, the Company resolved to curtail its early-stage development efforts, including pre-clinical research at the Barer Institute. The decision was taken to reduce spending as the Company focuses on exploring strategic opportunities.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	3 Months Ended
	Oct. 31, 2022
Description of Business [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, which include only normal recurring adjustments, considered necessary for a fair presentation have been included. The Company’s fiscal year ends on July 31 of each calendar year. Each reference below to a fiscal year refers to the fiscal year ending in the calendar year indicated (e.g., fiscal year 2022 refers to the fiscal year ended July 31, 2022). Operating results for the three months ended October 31, 2022 are not necessarily indicative of the results that may be expected for the fiscal year ending July 31, 2023. The balance sheet at July 31, 2022 has been derived from the Company’s audited consolidated financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Therefore, these financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended July 31, 2022, or the 2022 Form 10-K, as filed with the U.S. Securities and Exchange Commission (the “SEC”).
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ significantly from those estimates.
Liquidity	Liquidity As of October 31, 2022, the Company had cash and cash equivalents of $22.2 million, available-for-sale securities valued at $71.0 million, and an investment in hedge funds valued at $4.6 million. On August 22, 2022, the Company received net proceeds of approximately $33 million in connection with the sale of the 520 Property (see Note 3 for further details). The Company expects the balance of cash and cash equivalents, available-for-sale securities, and investment in hedge funds to be sufficient to meet our obligations for at least the next 12 months from the issuance of these consolidated financial statements.
Risks and Uncertainties - COVID-19, War in Ukraine	Risks and Uncertainties - COVID-19, War in Ukraine In late 2019, a novel strain of coronavirus, SARS-CoV, which causes COVID-19, was identified and has proved to be highly contagious. It has since spread extensively throughout the world, including the United States, and was declared a global pandemic by the World Health Organization in March 2020. The Company actively monitors the outbreak, including the spread of new variants of interest, and its potential impact on the Company’s operations and those of the Company’s holdings. Even with growing availability of testing and vaccines and the relaxation of public health measures that were implemented to limit the spread of the pandemic, there continues to be uncertainty around the COVID-19 pandemic and its impact. The Company had implemented a number of measures to protect the health and safety of the Company’s workforce including a voluntary work-from-home policy for the Company’s workforce who can perform their jobs from home as well as restrictions on discretionary business travel. Most of our employees have returned to working from the office on a part-time basis. The full impact of the COVID-19 pandemic on the Company will depend on factors such as the length of time of the pandemic; the responses of federal, state and local governments; the impact of future variants that may emerge; vaccination rates among the population; the efficacy of the COVID-19 vaccines; the longer-term impact of the pandemic on the economy and consumer behavior; and the effect on our employees, vendors, and other partners. The short and long-term implications of Russia’s invasion of Ukraine are difficult to predict at this time. The imposition of sanctions and counter sanctions may have an adverse effect on the economic markets generally and could impact our business and the companies in which we have investments, financial condition, and results of operations. Because of the highly uncertain and dynamic nature of these events, it is not currently possible to estimate the impact of the Russian – Ukraine war on our business and the companies in which we have invested.
Concentration of Credit Risk and Significant Customers	Concentration of Credit Risk and Significant Customers The Company routinely assesses the financial strength of its customers. As a result, the Company believes that its accounts receivable credit risk exposure is limited. For the three months ended October 31, 2022, including revenue from discontinued operations, related parties represented 44% of the Company’s revenue, and as of October 31, 2022, one customer represented 67% of the Company’s accounts receivable balance. For the three months ended October 31, 2021, related parties represented 63% of the Company’s revenue, and as of October 31, 2021, two customers, one of which is a related party, represented 71% and 14% of the Company’s accounts receivable balance, respectively.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all liquid investments with an original maturity of three months or less when purchased to be cash equivalents.
Restricted Cash	Restricted Cash Restricted cash represented escrow funds held in bank accounts owned by the Company to be used to secure a letter of credit for a tenant in connection with the sale of the 520 Property. The Company did not have the right to use this cash balance for any other purpose.
Reserve for Receivables	Reserve for Receivables The Company evaluates accounts receivable, loans, interest and fees receivable for impairment under Accounting Standards Codification (“ASC”) 310, Receivables
Investments	investments, whether consolidated, equity or cost, involves an evaluation of the significant terms of each investment that explicitly grant or suggest evidence of control or influence over the operations of the investee and also include the identification of any variable interests in which the Company is the primary beneficiary. The consolidated financial statements include the Company’s controlled affiliates. All significant intercompany accounts and transactions between the consolidated affiliates are eliminated. Investments in businesses that the Company does not control, but in which the Company has the ability to exercise significant influence over operating and financial matters, are accounted for using the equity method. Investments in which the Company does not have the ability to exercise significant influence over operating and financial matters are accounted for in accordance with ASC 321, Investments - Equity Securities
Investments - Hedge Funds	Investments - Hedge Funds The Company accounts for its investments in hedge funds in accordance with ASC 321, Investments – Equity Securities
Corporate Bonds and US Treasury Bills	Corporate Bonds and US Treasury Bills The Company’s marketable securities are considered to be available-for-sale as defined under ASC 320, Investments - Debt and Equity Securities
Variable Interest Entities	Variable Interest Entities In accordance with ASC 810, Consolidation If an entity is determined to be a VIE, the Company evaluates whether the Company is the primary beneficiary. The primary beneficiary analysis is a qualitative analysis based on power and economics. The Company consolidates a VIE if both power and benefits belong to the Company – that is, the Company (i) has the power to direct the activities of a VIE that most significantly influence the VIE’s economic performance (power), and (ii) has the obligation to absorb losses of, or the right to receive benefits from, the VIE that could potentially be significant to the VIE (benefits). The Company consolidates VIEs whenever it is determined that the Company is the primary beneficiary. Cost Method Investments Equity Method Investments
Assets Held-for-Sale and Discontinued Operations	Assets Held-for-Sale and Discontinued Operations The Company classifies assets as held-for-sale if all held-for-sale criteria is met pursuant to ASC 360-10, Property, Plant and Equipment Strategic changes in the Company’s operations can be considered a discontinued operation if both the operations and cash flows of the discontinued component have been (or will be) eliminated from the ongoing operations of the Company and the Company will not have any significant continuing involvement in the operations of the discontinued component after the disposal transaction. The results of the discontinued operations shall be reflected as a discontinued operation on the consolidated statements of operations and comprehensive income (loss) and prior periods shall be recast to reflect the earnings from discontinued operations. As a result of the agreement to sell the 520 Property, the accompanying consolidated financial statements reflect the activity related to the sale of the 520 Property as discontinued operations. The Company determined that the 520 Property met the held-for-sale and discontinued operations criteria as of July 1, 2022, and was disposed of during the three months ended October 31, 2022. See Note 3 to the consolidated financial statements for additional information regarding the results, major classes of assets and liabilities, significant non-cash operating items, and capital expenditures of discontinued operations.
Revenue Recognition	Revenue Recognition The Company applies the five-step approach as described in ASC 606, Revenue from Contracts with Customers The Company disaggregates its revenue by source within its consolidated statements of operations and comprehensive income (loss). As an owner and operator of real estate, the Company derives the majority of its revenue from leasing office and parking space to tenants at its properties. In addition, the Company earns revenue from recoveries from tenants, consisting of amounts due from tenants for common area maintenance, real estate taxes and other recoverable costs. Revenue from recoveries from tenants is recorded together with rental income on the consolidated statements of operations and comprehensive income (loss) which is also consistent with the guidance under ASC 842, Leases The revenue derived from the 520 Property, which included leasing office and parking space to the tenants, is presented within discontinued operations in the consolidated statements of operations and comprehensive income (loss). Contractual rental revenue is reported on a straight-line basis over the terms of the respective leases. Accrued rental income, included within other assets on the consolidated balance sheets, represents cumulative rental income earned in excess of rent payments received pursuant to the terms of the individual lease agreements. The Company also earned revenue from parking which was derived primarily from monthly and transient daily parking. The monthly and transient daily parking revenue falls within the scope of ASC 606 and was accounted for at the point in time when control of the goods or services transfers to the customer and the Company’s performance obligation is satisfied, consistent with the Company’s previous accounting. The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of tenants to make required rent payments or parking customers to pay amounts due.
Research and Development Costs	Research and development costs and expenses incurred by consolidated entities consist primarily of salaries and related personnel expenses, stock-based compensation, fees paid to external service providers, laboratory supplies, costs for facilities and equipment, license costs, and other costs for research and development activities. Research and development expenses are recorded in operating expenses in the period in which they are incurred. Estimates have been used in determining the liability for certain costs where services have been performed but not yet invoiced. The Company monitors levels of performance under each significant contract for external service providers, including the extent of patient enrollment and other activities through communications with the service providers to reflect the actual amount expended. Contingent milestone payments associated with acquiring rights to intellectual property are recognized when probable and estimable. These amounts are expensed to research and development when there is no alternative future use associated with the intellectual property.
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock-based compensation using the provisions of ASC 718, Stock-Based Compensation
Contingencies	Contingencies The Company accrues for loss contingencies when both (a) information available prior to issuance of the financial statements indicates that it is probable that a liability had been incurred at the date of the financial statements and (b) the amount of loss can reasonably be estimated. When the Company accrues for loss contingencies and the reasonable estimate of the loss is within a range, the Company records its best estimate within the range. When no amount within the range is a better estimate than any other amount, the Company accrues the minimum amount in the range. The Company discloses an estimated possible loss or a range of loss when it is at least reasonably possible that a loss may have been incurred.
Fair Value Measurements	Fair Value Measurements Fair value of financial and non-financial assets and liabilities is defined as an exit price, which is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The three-tier hierarchy for inputs used to measure fair value, which prioritizes the inputs to valuation techniques used to measure fair value, is as follows: ● Level 1 - quoted prices in active markets for identical assets or liabilities; ● Level 2 - quoted prices in active markets for similar assets and liabilities and inputs that are observable for the asset or liability; or ● Level 3 - unobservable inputs for the asset or liability, such as discounted cash flow models or valuations. A financial asset’s or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy.
Earnings (Loss) Per Share	Earnings (Loss) Per Share Basic loss per share is computed by dividing net loss attributable to all classes of common stockholders of the Company by the weighted average number of shares of all classes of common stock outstanding during the applicable period. Diluted loss per share is determined in the same manner as basic loss per share, except that the number of shares is increased to include restricted stock still subject to risk of forfeiture and to assume exercise of potentially dilutive stock options using the treasury stock method, unless the effect of such increase would be anti-dilutive. The Company uses income from continuing operations as the “control number” or benchmark to determine whether potential common shares are dilutive or anti-dilutive for purposes of reporting earnings (loss) per share for discontinued operations.
Recently Issued Accounting Standards Not Yet Adopted	Recently Issued Accounting Standards Not Yet Adopted From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies and are adopted by the Company as of the specified effective date. The Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption. In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In August 2020, the FASB issued ASU No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity

Description of Business (Tables

Description of Business (Tables)	3 Months Ended
	Oct. 31, 2022
Description of Business [Abstract]
Schedule of all majority-owned subsidiaries are consolidated	Company Country of Incorporation Percentage Owned Rafael Holdings, Inc. United States – Delaware 100 % Broad Atlantic Associates, LLC United States – Delaware 100 % IDT R.E. Holdings Ltd. Israel 100 % Rafael Holdings Realty, Inc. United States – Delaware 100 % Barer Institute, Inc. United States – Delaware 100 %* The Barer Institute, LLC United States – Delaware 100 %* Hillview Avenue Realty, JV United States – Delaware 100 % Hillview Avenue Realty, LLC United States – Delaware 100 % Rafael Medical Devices, LLC United States – Delaware 100 % Levco Pharmaceuticals Ltd. Israel 95 %*** Farber Partners, LLC United States – Delaware 93 % Pharma Holdings, LLC United States – Delaware 90 % LipoMedix Pharmaceuticals Ltd. Israel 84 % Altira Capital & Consulting, LLC United States – Delaware 67 % CS Pharma Holdings, LLC United States – Delaware 45 %** * In November 2022, the Company resolved to curtail its early-stage development efforts, including pre-clinical research at Barer. The decision was taken to reduce spending as the Company focuses on exploring strategic opportunities. ** 50% of CS Pharma Holdings, LLC is owned by Pharma Holdings, LLC. We have a 90% ownership in Pharma Holdings, LLC and, therefore, an effective 45% interest in CS Pharma Holdings, LLC. The Company, along with CS Pharma and Pharma Holdings, collectively own securities representing 51% of the outstanding capital stock of Cornerstone Pharmaceuticals and 42% of the capital stock on a fully diluted basis (excluding the remainder of the Warrant). Refer to Note 4 for further details. *** During Fiscal 2022, the Company discontinued further material investment in Levco. On March 15, 2022, the Company dissolved IDT 225 Old NB Road, LLC.

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Oct. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Schedule of classes of assets and liabilities	As of July 31, Current assets held-for-sale Building and Improvements $ 45,437 Land 10,412 Furniture and Fixtures 1,145 Other 205 Property and equipment 57,199 Less Accumulated Depreciation (17,005 ) Property and equipment, net 40,194 Total current assets held-for-sale 40,194 Total assets held-for-sale $ 40,194 Current liabilities held-for-sale Total current liabilities $ 15,000
Schedule of components comprising net loss	Three Months Ended 2022 2021 Revenue from discontinued operations: Rental – Third Party $ 68 $ 152 Rental – Related Party 115 493 Parking 66 190 Total revenue from discontinued operations 249 835 Costs and expenses from discontinued operations: General and administrative 246 618 Depreciation and amortization — 363 Income (loss) from discontinued operations 3 (146 ) Interest expense (87 ) (397 ) Loss from discontinued operations (84 ) (543 ) Gain on disposal of discontinued operations 6,784 — Income (loss) from discontinued operations $ 6,700 $ (543 )

Investments in Marketable Sec_2

Investments in Marketable Securities (Tables)	3 Months Ended
	Oct. 31, 2022
Investments in Marketable Securities [Abstract]
Schedule of fair value for available-for-sale securities	October 31, 2022 Amortized cost Gross Gross Fair value (in thousands) Available-for-sale securities: U.S. Treasury Bills $ 16,194 $ 11 $ — $ 16,205 Corporate bonds 54,780 224 (195 ) 54,809 Total available-for-sale securities $ 70,974 $ 235 $ (195 ) $ 71,014 July 31, 2022 Amortized cost Gross Gross Fair value (in thousands) Available-for-sale securities: Corporate bonds $ 36,761 $ 81 $ (144 ) $ 36,698 Total available-for-sale securities $ 36,761 $ 81 $ (144 ) $ 36,698

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Oct. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of fair value on a recurring basis and where they are classified within the fair value hierarchy	October 31, 2022 Level 1 Level 2 Level 3 Total (in thousands) Assets: Available-for-sale securities - Corporate Bonds $ — $ 54,809 $ — $ 54,809 Available-for-sale securities - U.S. Treasury Bills 16,205 — — 16,205 Hedge funds — — 4,637 4,637 Total $ 16,205 $ 54,809 $ 4,637 $ 75,651 July 31, 2022 Level 1 Level 2 Level 3 Total (in thousands) Assets: Available-for-sale securities $ — $ 36,698 $ — $ 36,698 Hedge funds — — 4,764 4,764 Total $ — $ 36,698 $ 4,764 $ 41,462
Schedule of changes in the fair value of the assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3)	Three Months Ended 2022 2021 (in thousands) Balance, beginning of period $ 4,764 $ 5,268 Total (loss) gain included in earnings (127 ) 211 Balance, end of period $ 4,637 $ 5,479

Trade Accounts Receivable (Tabl

Trade Accounts Receivable (Tables)	3 Months Ended
	Oct. 31, 2022
Receivables [Abstract]
Schedule of trade accounts receivable	October 31, July 31, (in thousands) Trade Accounts Receivable $ 254 $ 196 Accounts Receivable - Related Party 123 158 Less Allowance for Doubtful Accounts (242 ) (197 ) Trade Accounts Receivable, net $ 135 $ 157

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Oct. 31, 2022
Property and Equipment [Abstract]
Schedule of property and equipment	October 31, July 31, 2022 2022 (in thousands) Building and Improvements $ 2,505 $ 2,505 Other 68 68 2,573 2,573 Less Accumulated Depreciation (822 ) (803 ) Total $ 1,751 $ 1,770

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Oct. 31, 2022
Earnings Per Share [Abstract]
Schedule of dilutive loss per share	Three Months Ended 2022 2021 Shares issuable upon exercise of stock options 1,021,277 960,554 Shares issuable upon vesting of restricted stock 1,461,934 1,004,265 Shares issuable upon exercise of warrants to purchase Class B common stock — 26,189 2,483,211 1,991,008 Three Months Ended 2022 2021 (in thousands) Numerator: Net loss from continuing operations $ (5,207 ) $ (128,868 ) Net loss attributable to noncontrolling interests (99 ) (17,387 ) Numerator for net loss from continuing operations (5,108 ) (111,481 ) Numerator for discontinued operations 6,700 (543 ) Net income (loss) attributable to Rafael Holdings, Inc. $ 1,592 $ (112,024 ) Denominator: Weighted average basic and diluted shares outstanding 23,015,443 18,948,084 Earnings (loss) per share attributable to common shareholders Basic and diluted: Continuing operations $ (0.22 ) $ (5.88 ) Discontinued operations 0.29 (0.03 ) Total basic and diluted earnings (loss) per share $ 0.07 $ (5.91 )

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Oct. 31, 2022
Segment Reporting [Abstract]
Schedule of operating results for the business segments	(in thousands) Healthcare Real Estate Total Three Months Ended October 31, 2022 Revenues $ — $ 70 $ 70 (Loss) income from operations (5,164 ) 22 (5,142 ) (Loss) income from continuing operations before income taxes (5,224 ) 22 (5,202 ) Three Months Ended October 31, 2021 Revenues $ — $ 191 $ 191 (Loss) income from operations (49,659 ) 121 (49,538 ) (Loss) income from continuing operations before income taxes (128,414 ) 121 (128,293 )
Schedule of revenues from these non-United States customers as a percentage of total revenues	Three Months Ended October 31, 2022 2021 Revenue from tenants located in Israel 22 % 7 %
Schedule of net long-lived assets	(in thousands) United States Israel Total October 31, 2022 Long-lived assets, net $ 302 $ 1,449 $ 1,751 Total assets 99,171 4,045 103,216 July 31, 2022 Long-lived assets, net $ 305 $ 1,465 $ 1,770 Total assets 114,053 4,267 118,320

Equity (Tables)

Equity (Tables)	3 Months Ended
	Oct. 31, 2022
Stockholders' Equity Note [Abstract]
Schedule of stock option activity	Number of Weighted Weighted Aggregate Outstanding at July 31, 2022 1,021,277 $ 12.11 4.47 $ — Granted — — — — Cancelled / Forfeited — — — — Outstanding at October 31, 2022 1,021,277 $ 12.11 4.22 $ — Exercisable at October 31, 2022 594,607 $ 6.69 0.80 $ — Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Outstanding at July 31, 2022 5,266 $ 3.82 9.76 $ — Granted — — — — Outstanding at October 31, 2022 5,266 $ 3.82 9.51 — Exercisable at October 31, 2022 1,316 $ 3.82 9.51 $ —
Schedule of Black-Scholes option pricing model	October 31, Risk-free interest rate 0.67% - 1.16 % Expected term (in years) 6.04 Expected volatility 75 % Expected dividend yield — %
Schedule of grants of restricted shares of Class B common stock	Number of Weighted Outstanding at July 31, 2022 1,507,373 $ 4.22 Granted — — Vested (45,439 ) 4.04 Cancelled / Forfeited — — Non-vested shares at October 31, 2022 1,461,934 $ 4.22
Schedule of general and administrative expense	Three Months Ended 2022 2021 (in thousands) General and administrative $ 1,083 $ 7,668 Research and development 97 183 Net stock-based compensation expense $ 1,180 $ 7,851

Leases (Tables)

Leases (Tables)	3 Months Ended
	Oct. 31, 2022
Leases [Abstract]
Schedule of future contractual minimum lease payments	Year ending July 31, Related Parties Other Total (in thousands) 2023 (remaining) $ 57 $ — $ 57 2024 77 — 77 2025 78 — 78 Total Minimum Future Rental Income $ 212 $ — $ 212

Description of Business (Detail

Description of Business (Details)	3 Months Ended
	Oct. 31, 2022
Description of Business (Details) [Line Items]
Outstanding capital stock percentage	51%
Capital stock percentage	42%
CS Pharma Holdings, LLC [Member]
Description of Business (Details) [Line Items]
Percentage owned	50%
Interest percentage	45%
Pharma Holdings, LLC [Member]
Description of Business (Details) [Line Items]
Percentage owned	90%

Description of Business (Deta_2

Description of Business (Details) - Schedule of all majority-owned subsidiaries are consolidated	3 Months Ended
	Oct. 31, 2022
Rafael Holdings, Inc. [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100%
Broad Atlantic Associates, LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100%
IDT R.E. Holdings Ltd. [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	Israel
Percentage Owned	100%
Rafael Holdings Realty, Inc. [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100%
Barer Institute, Inc. [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100%	[1]
The Barer Institute, LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100%	[1]
Hillview Avenue Realty, JV [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100%
Hillview Avenue Realty, LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100%
Rafael Medical Devices, Inc. [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100%
Levco Pharmaceuticals Ltd. [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	Israel
Percentage Owned	95%	[2]
Farber Partners, LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	93%
Pharma Holdings, LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	90%
LipoMedix Pharmaceuticals Ltd. [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	Israel
Percentage Owned	84%
Altira Capital & Consulting, LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	67%
CS Pharma Holdings, LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	45%	[3]
[1]In November 2022, the Company resolved to curtail its early-stage development efforts, including pre-clinical research at Barer. The decision was taken to reduce spending as the Company focuses on exploring strategic opportunities.[2]During Fiscal 2022, the Company discontinued further material investment in Levco.[3]50% of CS Pharma Holdings, LLC is owned by Pharma Holdings, LLC. We have a 90% ownership in Pharma Holdings, LLC and, therefore, an effective 45% interest in CS Pharma Holdings, LLC. The Company, along with CS Pharma and Pharma Holdings, collectively own securities representing 51% of the outstanding capital stock of Cornerstone Pharmaceuticals and 42% of the capital stock on a fully diluted basis (excluding the remainder of the Warrant). Refer to Note 4 for further details.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Aug. 22, 2022	Oct. 31, 2022	Jul. 31, 2022
Accounting Policies [Abstract]
Cash and cash equivalents		$ 22,200
Available-for-sale securities		71,000
Investment in hedge funds		$ 4,637	$ 4,764
Net proceeds received	$ 33,000
Revenue Benchmark [Member]
Accounting Policies [Abstract]
Concentration risk percentage.		44%
One Customers [Member]
Accounting Policies [Abstract]
Concentration risk percentage.		67%
Two Customers [Member]
Accounting Policies [Abstract]
Concentration risk percentage.		71%
Two Customers [Member] | Accounts Receivable [Member]
Accounting Policies [Abstract]
Concentration risk percentage		14%

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Thousands		3 Months Ended
	Aug. 22, 2022	Oct. 31, 2022	Jul. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Property purchase price	$ 49,400
Note payable		$ 15,000
Repaying the note payable		33,000
Prepaid Expense		0
Other Current Assets			$ 150
Other assets		0	$ 1,300
Gain on disposal operations		6,800
Gross proceeds		49,400
Sale of property		40,200
Transaction costs		1,200
Deferred rental income		$ 1,200

Discontinued Operations (Deta_2

Discontinued Operations (Details) - Schedule of classes of assets and liabilities - USD ($) $ in Thousands	Oct. 31, 2022	Jul. 31, 2022
Current assets held-for-sale
Building and Improvements		$ 45,437
Land		10,412
Furniture and Fixtures		1,145
Other		205
Property and equipment		57,199
Less Accumulated Depreciation		(17,005)
Property and equipment, net		40,194
Total current assets held-for-sale		40,194
Total assets held-for-sale		40,194
Current liabilities held-for-sale
Total current liabilities		$ 15,000

Discontinued Operations (Deta_3

Discontinued Operations (Details) - Schedule of components comprising net loss - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Revenue from discontinued operations:
Total revenue from discontinued operations	$ 249	$ 835
Costs and expenses from discontinued operations:
General and administrative	246	618
Depreciation and amortization		363
Net loss from discontinued operations	3	(146)
Interest expense	(87)	(397)
Loss from discontinued operations	(84)	(543)
Gain on disposal of discontinued operations	6,784
Income (loss) from discontinued operations	6,700	(543)
Rental – Third Party [Member]
Revenue from discontinued operations:
Total revenue from discontinued operations	68	152
Rental – Related Party [Member]
Revenue from discontinued operations:
Total revenue from discontinued operations	115	493
Parking [Member]
Revenue from discontinued operations:
Total revenue from discontinued operations	$ 66	$ 190

Investment in Cornerstone Pha_2

Investment in Cornerstone Pharmaceuticals (Details) - USD ($) $ in Thousands, shares in Millions			1 Months Ended			3 Months Ended
	Oct. 01, 2021	Jan. 31, 2019	Oct. 28, 2021	Sep. 24, 2021	Jan. 28, 2021	Oct. 31, 2022	Oct. 31, 2021
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Ownership percentage in non-operating subsidiary						50%
Principal amount		$ 10,000
Total impairment loss						$ 17,300
Noncontrolling interests						79,100
Interest amount						$ 10,400
Rafael Pharmaceuticals [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Ownership percentage in non-operating subsidiary						90%
Fully diluted						10%
Percentage of outstanding capital stock						51%
Percentage of outstanding capital stock on fully diluted basis						42%
Impairment charge			$ 79,100
CS Pharma Holdings, LLC [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Ownership percentage in subsidiary and holds percentage of interest						50%
Indirect interest in assets held, percentage						45%
Fully diluted						10%
Convertible promissory note, rate of interest		3.50%
Pharma Holdings [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Ownership percentage in non-operating subsidiary						90%
Exercise price of warrants or rights, description						The Company currently owns 51% of the issued and outstanding equity in Cornerstone Pharmaceuticals. Approximately 8% of the issued and outstanding equity is owned by the Company’s subsidiary CS Pharma and 43% is held by the Company’s subsidiary Pharma Holdings. The Company’s subsidiary Pharma Holdings holds the Warrant. The Instrument holds 10% of the interest in Pharma Holdings and would need to contribute 10% of any cash necessary to exercise any portion of the Warrant. Following any exercise, a portion of the Company’s interest in Cornerstone Pharmaceuticals would continue to be held for the benefit of the other equity holders in Pharma Holdings and CS Pharma. Cornerstone Pharmaceuticals may also issue additional equity interests, such as employee stock options, which will require the Company to pay additional cash to maintain the Company’s ownership percentage or exercise the Warrant in full.
Exercise of warrants purchases, description					On January 28, 2021, Pharma Holdings partially exercised the Warrant to maintain the 51% ownership percentage and purchased 7.3 million shares of Cornerstone Pharmaceuticals’ Series D Preferred Stock for $9.1 million, of which $0.9 million was contributed by the holder of a minority interest in Pharma Holdings.
Aggregate amount				$ 25,000
Agreement accrues interest per annum	9%
Reserve amount							$ 25,000
Other amounts						$ 0	$ 908
CS Pharma and Pharma Holdings [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Interest amount						$ 6,900
Series D Convertible Preferred Stock [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Exercise of warrants purchases, description						The Series D Convertible Preferred Stock has a stated value of $1.25 per share (subject to appropriate adjustment to reflect any stock split, combination, reclassification or reorganization of the Series D Preferred Stock or any dilutive issuances, as described below). Holders of Series D Stock are entitled to receive non-cumulative dividends when, as and if declared by the Board of Cornerstone Pharmaceuticals, prior to any dividends to any other class of capital stock of Cornerstone Pharmaceuticals. In the event of any liquidation, dissolution or winding up of Cornerstone Pharmaceuticals, or in the event of any deemed liquidation, proceeds from such liquidation, dissolution or winding up shall be distributed first to the holders of Series D Stock. Except with respect to certain major decisions, or as required by law, holders of Series D Stock vote together with the holders of the other preferred stock and common stock and not as a separate class.
Series D Convertible Preferred Stock [Member] | CS Pharma Holdings, LLC [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Exercise price of warrants or rights, description						Pharma Holdings holds 44.0 million shares of Cornerstone Pharmaceuticals’ Series D Convertible Preferred Stock and a warrant to increase the combined ownership of Pharma Holdings and CS Pharma to up to 56% of the fully diluted equity interests in Cornerstone Pharmaceuticals (the “Warrant”). The exercise price of the Warrant is the lower of 70% of the price sold in an equity financing, or $1.25 per share, subject to certain adjustments.
Purchase of exercise the warrant, shares						16.7
Howard Jonas [Member] | Rafael Pharmaceuticals [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Fully diluted						10%
First Advance [Member] | Pharma Holdings [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Advance amount of debtor				$ 1,900
Second Advance [Member] | Pharma Holdings [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Advance amount of debtor	$ 23,100

Investment in RP Finance, LLC (

Investment in RP Finance, LLC (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021	Sep. 30, 2021	Jul. 31, 2021	Jun. 30, 2021	Nov. 30, 2020	Aug. 31, 2020	Feb. 03, 2020
Investment in RP Finance, LLC (Details) [Line Items]
Amount of revolving commitment to funds			$ 5,000	$ 10,000	$ 10,000	$ 5,000	$ 5,000
Income from interest	$ 0
Cumulative funds description	As of October 31, 2022, the Company has funded a cumulative total of $9.375 million in accordance with its 37.5% ownership interests in RP Finance.
Rafael Pharmaceuticals [Member]
Investment in RP Finance, LLC (Details) [Line Items]
Amount of revolving commitment to funds			$ 5,000			$ 5,000	$ 5,000
Percentage of issued and outstanding shares	12%
Related party receivable		$ 9,375
RP Finance [Member]
Investment in RP Finance, LLC (Details) [Line Items]
Income from interest	$ 575
Percentage of ownership interest	37.50%	3%
Equity loss		$ 575
Equity method investment	$ 0
Line of Credit Agreement [Member]
Investment in RP Finance, LLC (Details) [Line Items]
Amount of revolving commitment to funds								$ 50,000,000
Description line of credit facility	The Company owns 37.5% of the equity interests in RP Finance and is required to fund 37.5% of funding requests from Cornerstone Pharmaceuticals under the RPF Line of Credit. The Instrument owns 37.5% of the equity interests in RP Finance, and is required to fund 37.5% of funding requests from Cornerstone Pharmaceuticals under the RPF Line of Credit. The remaining 25% equity interests in RP Finance are owned by other shareholders of Cornerstone Pharmaceuticals.

Investment in LipoMedix Pharm_2

Investment in LipoMedix Pharmaceuticals Ltd. (Details) - USD ($)				1 Months Ended	3 Months Ended
	Nov. 15, 2021	Nov. 11, 2021	Sep. 01, 2021	Mar. 31, 2021	Oct. 31, 2022	Nov. 30, 2021
Investment in LipoMedix Pharmaceuticals Ltd. (Details) [Line Items]
Issued and outstanding ordinary shares, percentage					84%
Interest rate increase			15%
Ordinary shares (in Shares)	15,975,000
Exercise price	$ 0.1878
Aggregate purchase price	$ 3,000,000
Noncontrolling interest					$ 8,000
Warrant [Member]
Investment in LipoMedix Pharmaceuticals Ltd. (Details) [Line Items]
Ordinary shares (in Shares)		15,975,000
Exercise price		$ 0.1878
Maximum [Member]
Investment in LipoMedix Pharmaceuticals Ltd. (Details) [Line Items]
Percentage of noncontrolling interest					84%
Minimum [Member]
Investment in LipoMedix Pharmaceuticals Ltd. (Details) [Line Items]
Percentage of noncontrolling interest					16%
Lipomedix Pharmaceuticals Ltd. [Member]
Investment in LipoMedix Pharmaceuticals Ltd. (Details) [Line Items]
Maturity date, Description				In March 2021, the Company provided bridge financing in the principal amount of up to $400,000 to LipoMedix with a maturity date of September 1, 2021, and an interest rate of 8% per annum.
Principal amount				$ 400,000
Interest rate				8%
Ordinary shares (in Shares)					15,975,000
Aggregate purchase price					$ 3,000,000
Principal amount outstanding						$ 400,000
Accrued interest						$ 21,800
Cash payment					$ 2,600,000

Investments in Marketable Sec_3

Investments in Marketable Securities (Details) $ in Thousands	3 Months Ended
	Oct. 31, 2022 USD ($)
Investments in Marketable Securities [Abstract]
Unrealized losses out of accumulated other comprehensive loss	$ 15

Investments in Marketable Sec_4

Investments in Marketable Securities (Details) - Schedule of fair value for available-for-sale securities - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Oct. 31, 2022	Jul. 31, 2021
U.S. Treasury Bills [Member]
Investments in Marketable Securities (Details) - Schedule of fair value for available-for-sale securities [Line Items]
Amortized cost	$ 16,194
Gross unrealized gains	11
Gross unrealized (losses)
Fair value	16,205
Corporate Bonds [Member]
Investments in Marketable Securities (Details) - Schedule of fair value for available-for-sale securities [Line Items]
Amortized cost	54,780	$ 36,761
Gross unrealized gains	224	81
Gross unrealized (losses)	(195)	(144)
Fair value	54,809	36,698
Total Available-for-Sale Securities [Member]
Investments in Marketable Securities (Details) - Schedule of fair value for available-for-sale securities [Line Items]
Amortized cost	70,974	36,761
Gross unrealized gains	235	81
Gross unrealized (losses)	(195)	(144)
Fair value	$ 71,014	$ 36,698

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Fair Value Disclosures [Abstract]
Investments in securities	$ 300,000
Impairment loss	$ 156	$ 0

Fair Value Measurements (Deta_2

Fair Value Measurements (Details) - Schedule of fair value on a recurring basis and where they are classified within the fair value hierarchy - USD ($) $ in Thousands	Oct. 31, 2022	Jul. 31, 2022
Fair Value Measurements (Details) - Schedule of fair value on a recurring basis and where they are classified within the fair value hierarchy [Line Items]
Available-for-sale securities - Corporate Bonds	$ 54,809
Available-for-sale securities - U.S. Treasury Bills	16,205
Hedge funds	4,637	$ 4,764
Total	75,651	41,462
Available-for-sale securities		36,698
Level 1 [Member]
Fair Value Measurements (Details) - Schedule of fair value on a recurring basis and where they are classified within the fair value hierarchy [Line Items]
Available-for-sale securities - Corporate Bonds
Available-for-sale securities - U.S. Treasury Bills	16,205
Hedge funds
Total	16,205
Available-for-sale securities
Level 2 [Member]
Fair Value Measurements (Details) - Schedule of fair value on a recurring basis and where they are classified within the fair value hierarchy [Line Items]
Available-for-sale securities - Corporate Bonds	54,809
Available-for-sale securities - U.S. Treasury Bills
Hedge funds
Total	54,809	36,698
Available-for-sale securities		36,698
Level 3 [Member]
Fair Value Measurements (Details) - Schedule of fair value on a recurring basis and where they are classified within the fair value hierarchy [Line Items]
Available-for-sale securities - Corporate Bonds
Available-for-sale securities - U.S. Treasury Bills
Hedge funds	4,637	4,764
Total	$ 4,637	4,764
Available-for-sale securities

Fair Value Measurements (Deta_3

Fair Value Measurements (Details) - Schedule of changes in the fair value of the assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Balance, beginning of period	$ 4,764	$ 5,268
Total (loss) gain included in earnings	(127)	211
Balance, end of period	$ 4,637	$ 5,479

Trade Accounts Receivable (Deta

Trade Accounts Receivable (Details) - Schedule of trade accounts receivable - USD ($) $ in Thousands	Oct. 31, 2022	Jul. 31, 2022
Schedule Of Trade Accounts Receivable Abstract
Trade Accounts Receivable	$ 254	$ 196
Accounts Receivable - Related Party	123	158
Less Allowance for Doubtful Accounts	(242)	(197)
Trade Accounts Receivable, net	$ 135	$ 157

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Property and Equipment [Member]
Property and Equipment (Details) [Line Items]
Depreciation expense	$ 22	$ 19

Property and Equipment (Detai_2

Property and Equipment (Details) - Schedule of property and equipment - Property and Equipment [Member] - USD ($) $ in Thousands	Oct. 31, 2022	Jul. 31, 2022
Property, Plant and Equipment [Line Items]
Building and Improvements	$ 2,505	$ 2,505
Other	68	68
Property and equipment, gross	2,573	2,573
Less Accumulated Depreciation	(822)	(803)
Total	$ 1,751	$ 1,770

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - Schedule of dilutive loss per share - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Schedule Of Dilutive Loss Per Share Abstract
Shares issuable upon exercise of stock options	1,021,277	960,554
Shares issuable upon vesting of restricted stock	1,461,934	1,004,265
Shares issuable upon exercise of warrants to purchase Class B common stock		26,189
Total	2,483,211	1,991,008
Numerator:
Net loss from continuing operations	$ (5,207)	$ (128,868)
Net loss attributable to noncontrolling interests	(99)	(17,387)
Numerator for net loss from continuing operations	(5,108)	(111,481)
Numerator for discontinued operations	6,700	(543)
Net income (loss) attributable to Rafael Holdings, Inc.	$ 1,592	$ (112,024)
Denominator:
Weighted average basic shares outstanding	23,015,443	18,948,084
Basic and diluted:
Continuing operations - basic and diluted	$ (0.22)	$ (5.88)
Discontinued operations - basic and diluted	0.29	(0.03)
Total basic earnings (loss) per share	$ 0.07	$ (5.91)

Earnings (Loss) Per Share (De_2

Earnings (Loss) Per Share (Details) - Schedule of dilutive loss per share (Parentheticals) - $ / shares	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Schedule Of Dilutive Loss Per Share Abstract
Weighted average diluted shares outstanding (in Shares)	23,015,443	18,948,084
Continuing operations - basic and diluted	$ (0.22)	$ (5.88)
Discontinued operations - basic and diluted	0.29	(0.03)
Total diluted earnings (loss) per share	$ 0.07	$ (5.91)

Note Payable, Held-For-Sale (De

Note Payable, Held-For-Sale (Details) - USD ($) $ in Thousands		3 Months Ended
	Jul. 29, 2022	Oct. 31, 2022	Oct. 31, 2021	Aug. 22, 2022	Jul. 09, 2021
Debt Disclosure [Abstract]
Note payable				$ 87,000	$ 15,000
Note payable bears interest rate, description		The Note Payable bore interest at a rate per annum equal to seven and one-quarter percent (7.25%) from July 9, 2021 through July 31, 2021 and thereafter at an interest rate per annum equal to the 30-day LIBOR Rate, as published in The Wall Street Journal, plus 6.90% per annum, but in no event less than seven and one-quarter percent (7.25%) per annum. The Note Payable was due on August 1, 2022, subject to the Company’s option to extend the maturity date until August 1, 2023 for a fee equal to three-quarters of one percent (0.75%) of the Note Payable.
Maturity date	Nov. 01, 2022
Paid extension fee	$37,500
Outstanding principal balance				$ 15,000
Interest expense		$ 87	$ 271
Unamortized debt issuance costs		0	347
Amortization of the debt discount		$ 0	$ 125

Related Party Transactions (Det

Related Party Transactions (Details)	1 Months Ended			3 Months Ended
	Jun. 22, 2022	Nov. 15, 2021 USD ($) shares	Dec. 31, 2020 USD ($) $ / shares shares	Oct. 31, 2022 USD ($) ft²	Oct. 31, 2021 USD ($)	Jul. 31, 2022 USD ($)
Related Party Transactions (Details) [Line Items]
Related party expenses				$ 68,000	$ 75,000
Due to related parties				$ 44,000	75,000
Area of land (in Square Feet) | ft²				80,000
Rent and parking expense				$ 129,000
Rent and parking expenses				102,000
Due from related parties				$ 25,000	84,000
Related party receivables					720,000
Related party transaction, description				The Company leased space to related parties (including IDT Corporation - see above) which represented approximately 44% and 63% for the three months ended October 31, 2022 and 2021, respectively. The portion of related party rental income pertaining to the 520 Property has been classified in discontinued operations on the consolidated statements of operations and comprehensive income (loss) for the three months ended October 31, 2022 and 2021.
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party				$ 0
Recognized loss of earnings					575,000
Common stock for consideration					(6,228,000)
Warrants percentage			20%
Exercise price (in Dollars per share) | $ / shares			$ 22.91
Stock purchase agreement description	On June 22, 2022, the Company entered into a Stock Purchase Agreement (the “I9 SPA”) with I9 Plus, LLC. On July 6, 2022, pursuant to the I9 SPA, the Company sold 3,225,806 shares of the Company’s Class B common stock to I9 Plus, LLC at a price per share of $1.86 and an aggregate sale price of $6 million.
RP Finance [Member]
Related Party Transactions (Details) [Line Items]
Ownership percentage		84%		37.50%
Securities Purchase Agreement [Member]
Related Party Transactions (Details) [Line Items]
Shares purchased (in Shares) | shares			218,245
Common stock for consideration			$ 5,000,000
Israel [Member]
Related Party Transactions (Details) [Line Items]
Area of land (in Square Feet) | ft²				3,600
IDT Owed [Member]
Related Party Transactions (Details) [Line Items]
Rent and parking expenses				$ 2,000	675,000
Rafael Pharmaceuticals [Member]
Related Party Transactions (Details) [Line Items]
Due from related parties					120,000
Due from owed amount				720,000		$ 720,000
LipoMedix Pharmaceuticals, Ltd. [Member]
Related Party Transactions (Details) [Line Items]
Due from owed amount		$ 3,000,000
Outstanding loan balance		400,000
Accrued interest		21,800
Cash payment		$ 2,600,000
Purchased shares (in Shares) | shares		15,975,000
Noncontrolling interest percentage		16%
IDT [Member]
Related Party Transactions (Details) [Line Items]
Rent and parking expenses				$ 469,000	$ 441,000

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Income Tax Disclosure [Abstract]
Income tax provision	$ 5,000	$ 5,200,000
Before income tax	$ 0	$ 128,800,000

Business Segment Information (D

Business Segment Information (Details)	3 Months Ended
	Oct. 31, 2022
Segment Reporting [Abstract]
Number of operating segments	2
Real estate segment, description	The Real Estate segment consists of the Company’s real estate holdings, comprised of a portion of a commercial building in Israel.

Business Segment Information _2

Business Segment Information (Details) - Schedule of operating results for the business segments - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Segment Reporting Information [Line Items]
Revenues	$ 70	$ 191
(Loss) income from operations	(5,142)	(49,538)
(Loss) income from continuing operations before income taxes	(5,202)	(128,293)
Healthcare [Member]
Segment Reporting Information [Line Items]
Revenues
(Loss) income from operations	(5,164)	(49,659)
(Loss) income from continuing operations before income taxes	(5,224)	(128,414)
Real Estate [Member]
Segment Reporting Information [Line Items]
Revenues	70	191
(Loss) income from operations	22	121
(Loss) income from continuing operations before income taxes	$ 22	$ 121

Business Segment Information _3

Business Segment Information (Details) - Schedule of revenues from these non-United States customers as a percentage of total revenues	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Segment Reporting Information [Line Items]
Revenue from tenants located in Israel	22%	7%

Business Segment Information _4

Business Segment Information (Details) - Schedule of net long-lived assets - USD ($) $ in Thousands	Oct. 31, 2022	Jul. 31, 2022
Segment Reporting Information [Line Items]
Long-lived assets, net	$ 1,751	$ 1,770
Total assets	103,216	118,320
United States [Member]
Segment Reporting Information [Line Items]
Long-lived assets, net	302	305
Total assets	99,171	114,053
Israel [Member]
Segment Reporting Information [Line Items]
Long-lived assets, net	1,449	1,465
Total assets	$ 4,045	$ 4,267

Equity (Details)

Equity (Details) - USD ($)						1 Months Ended			3 Months Ended
	Nov. 28, 2022	Jun. 14, 2022	Feb. 01, 2022	Jan. 19, 2022	Jun. 01, 2021	Jan. 31, 2022	Aug. 24, 2021	Jan. 31, 2021	Oct. 31, 2022	Aug. 19, 2021	May 27, 2021
Equity (Details) [Line Items]
Restricted stock units, description							the Company issued 2,833,425 shares of Class B common stock (the “Institutional Shares”), par value $0.01 per share, to the Institutional Investors, at a purchase price equal to $35.00 per share, for aggregate gross proceeds of approximately $99.2 million, before deducting placement agent fees and other offering expenses.
Options were granted
Total unrecognized compensation cost (in Dollars)									$ 10,000
Recognized compensation cost over next period									2 years 2 months 4 days
Restricted shares granted						33,360
Share based compensation cost (in Dollars)						$ 151,000
Restricted stock		452,130	986,835
Restricted shares percentage			24%
2018 Equity Incentive Plan [Member]
Equity (Details) [Line Items]
Issuance of restricted shares									5,000,000
Options were granted									98,000,000
Deducting transaction costs (in Dollars)									$ 6,200,000
2022 Plan [Member]
Equity (Details) [Line Items]
Common stock shares issued									10,000
Issuance of shares									4,734
Equity Incentive Plan [Member]
Equity (Details) [Line Items]
Restricted shares granted								12,609
Share based compensation cost (in Dollars)								$ 286,000
Stock Options [Member]
Equity (Details) [Line Items]
Total unrecognized compensation cost (in Dollars)									$ 3,900,000
Recognized compensation cost over next period									3 years 10 months 24 days
Restricted Stock [Member]
Equity (Details) [Line Items]
Total unrecognized compensation cost (in Dollars)									$ 3,900,000
Recognized compensation cost over next period									3 years
Common Class B [Member]
Equity (Details) [Line Items]
Sale of common stock (in Dollars)											$ 250,000,000
Sale of stock issued				1,919,025	48,859
Share issued										112,501
Share per price (in Dollars per share)										$ 44.42
Annual base salary (in Dollars)	$ 696,770
Common Class B [Member] | 2021 Plan [Member]
Equity (Details) [Line Items]
Common stock shares issued									1,919,025
Grant to Board of Directors [Member]
Equity (Details) [Line Items]
Restricted shares granted						18,336
Grant to Board of Directors [Member] | Equity Incentive Plan [Member]
Equity (Details) [Line Items]
Restricted shares granted						15,024

Equity (Details) - Schedule of

Equity (Details) - Schedule of stock option activity	3 Months Ended
	Oct. 31, 2022 USD ($) $ / shares shares
Equity (Details) - Schedule of stock option activity [Line Items]
Number of Options, Outstanding, Beginning balance | shares	1,021,277
Weighted Average Exercise Price, Outstanding, Beginning balance | $ / shares	$ 12.11
Weighted Average Remaining Contractual Term (in years), Outstanding, Beginning balance	4 years 5 months 19 days
Aggregate Intrinsic Value, Outstanding, Beginning balance | $
Number of Options, Granted | shares
Weighted Average Exercise Price, Granted | $ / shares
Weighted Average Remaining Contractual Term (in years), Granted
Aggregate Intrinsic Value, Outstanding, Granted | $
Number of Options, Cancelled / Forfeited | shares
Weighted Average Exercise Price, Cancelled / Forfeited | $ / shares
Weighted Average Remaining Contractual Term (in years), Cancelled / Forfeited
Aggregate Intrinsic Value, Cancelled / Forfeited | $
Number of Options, Outstanding, Ending balance | shares	1,021,277
Weighted-Average Exercise Price, Outstanding, Ending balance | $ / shares	$ 12.11
Weighted-Average Remaining Contractual Term, Outstanding, Ending balance	4 years 2 months 19 days
Aggregate Intrinsic Value, Outstanding, Ending balance | $
Number of Options, Exercisable | shares	594,607
Weighted-Average Exercise Price, Exercisable | $ / shares	$ 6.69
Weighted-Average Remaining Contractual Term, Outstanding, Exercisable	9 months 18 days
Aggregate Intrinsic Value, Outstanding, Exercisable | $
Rafael Medical Devices, LLC [Member]
Equity (Details) - Schedule of stock option activity [Line Items]
Number of Options, Outstanding, Beginning balance | shares	5,266
Weighted Average Exercise Price, Outstanding, Beginning balance | $ / shares	$ 3.82
Weighted Average Remaining Contractual Term (in years), Outstanding, Beginning balance	9 years 9 months 3 days
Aggregate Intrinsic Value, Outstanding, Beginning balance | $
Number of Options, Granted | shares
Weighted Average Exercise Price, Granted | $ / shares
Weighted Average Remaining Contractual Term (in years), Granted
Aggregate Intrinsic Value, Outstanding, Granted | $
Number of Options, Outstanding, Ending balance | shares	5,266
Weighted-Average Exercise Price, Outstanding, Ending balance | $ / shares	$ 3.82
Weighted-Average Remaining Contractual Term, Outstanding, Ending balance	9 years 6 months 3 days
Aggregate Intrinsic Value, Outstanding, Ending balance | $
Number of Options, Exercisable | shares	1,316
Weighted-Average Exercise Price, Exercisable | $ / shares	$ 3.82
Weighted-Average Remaining Contractual Term, Outstanding, Exercisable	9 years 6 months 3 days
Aggregate Intrinsic Value, Outstanding, Exercisable | $

Equity (Details) - Schedule o_2

Equity (Details) - Schedule of Black-Scholes option pricing model - Rafael Medical Devices, LLC [Member]	3 Months Ended
	Oct. 31, 2022
Equity (Details) - Schedule of Black-Scholes option pricing model [Line Items]
Expected term (in years)	6 years 14 days
Expected volatility	75%
Minimum [Member]
Equity (Details) - Schedule of Black-Scholes option pricing model [Line Items]
Risk-free interest rate	0.67%
Maximum [Member]
Equity (Details) - Schedule of Black-Scholes option pricing model [Line Items]
Risk-free interest rate	1.16%

Equity (Details) - Schedule o_3

Equity (Details) - Schedule of grants of restricted shares of Class B common stock	3 Months Ended
	Oct. 31, 2022 $ / shares shares
Schedule Of Grants Of Restricted Shares Of Class BCommon Stock Abstract
Number of Non-vested Shares, Outstanding beginning balance | shares	1,507,373
Weighted Average Grant Date Fair Value, Outstanding beginning balance | $ / shares	$ 4.22
Number of Non-vested Shares, Granted | shares
Weighted Average Grant Date Fair Value, Granted | $ / shares
Number of Non-vested Shares, Vested | shares	(45,439)
Weighted Average Grant Date Fair Value, Vested | $ / shares	$ 4.04
Number of Non-vested Shares, Cancelled / Forfeited | shares
Weighted Average Grant Date Fair Value, Cancelled / Forfeited | $ / shares
Number of Non-vested Shares, Ending Balance | shares	1,461,934
Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 4.22

Equity (Details) - Schedule o_4

Equity (Details) - Schedule of general and administrative expense - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Schedule Of General And Administrative Expense Abstract
Forfeiture of RSUs within selling, general and administrative	$ 1,083	$ 7,668
Research and development	97	183
Net stock-based compensation (credit) expense	$ 1,180	$ 7,851

Leases (Details)

Leases (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Oct. 31, 2022	Oct. 31, 2021	Jul. 31, 2022
Leases [Abstract]
Net operating leases with initial term expiration dates ,description			The Company is the lessor of the Israeli property which is leased to tenants under net operating leases with a term expiration date within 2025.
Comprehensive loss	$ 0.1	$ 0.1

Leases (Details) - Schedule of

Leases (Details) - Schedule of future contractual minimum lease payments $ in Thousands	Jul. 31, 2022 USD ($)
Leases (Details) - Schedule of future contractual minimum lease payments [Line Items]
2023 (remaining)	$ 57
2024	77
2025	78
Total Minimum Future Rental Income	212
Related Parties [Member]
Leases (Details) - Schedule of future contractual minimum lease payments [Line Items]
2023 (remaining)	57
2024	77
2025	78
Total Minimum Future Rental Income	212
Other [Member]
Leases (Details) - Schedule of future contractual minimum lease payments [Line Items]
2023 (remaining)
2024
2025
Total Minimum Future Rental Income