FLNA Filana Therapeutics, Inc.
Legal ·
The appeals court sent the Texas case back for new class certification proceedings. A $31.25 million settlement was filed in June, and Remi Barbier and Lindsay Burns, named in the 10-Q, are not parties to it.
Nasdaq gives Filana until March 16, 2027 to regain compliance. Cash and equivalents fell to $86.6 million at March 31, 2026, from $128.6 million at the end of 2024.
Cassava and Chief Financial Officer Eric J. Schoen accepted a mediator's recommendation to settle the consolidated securities class action for $31.25 million. Remi Barbier and Lindsay Burns did not sign the term sheet but would receive releases once the court approves.
The at-the-market supplement lets Cantor Fitzgerald sell up to $50,000,000 of stock for up to 3.0% in commissions. The company's lead drug failed its Phase 3 Alzheimer's study, and its share price closed at $3.11.
After its Phase 3 ReThink-ALZ study of simufilam missed its co-primary endpoints, Cassava is cutting 10 employees, or 33% of its staff, at a one-time cost of about $0.4 million. It reported unaudited cash of about $128.6 million at December 31, 2024.
The Alzheimer's drug developer expects about $0.4 million in one-time costs. The release gives no efficacy numbers for the two Phase 3 studies, and it still plans to report topline results from the one it is discontinuing.
Filana Therapeutics, Inc., formerly Cassava Sciences, Inc., is a clinical-stage biotechnology company based in Austin, Texas. Its mission is to develop medicines for central nervous system disorders, such as Tuberous Sclerosis Complex (TSC)-related epilepsy and other diseases linked to dysregulation or overexpression of filamin A. Its lead candidate, simufilam, is a small-molecule oral treatment being studied for TSC-related epilepsy. Simufilam is designed to modulate filamin A, a protein that regulates neuronal cell development. The company describes it as a potential first-in-class filamin A-modulating agent. Clinical trials of simufilam in Alzheimer's disease, including two Phase 3 studies, were discontinued in 2024, and the phase-out of that program was completed in the second quarter of 2025. The company says it owns or controls worldwide rights to simufilam, including nine issued U.S. patents with expiration dates from 2029 to 2040, and holds an exclusive worldwide license from Yale University to certain related patent rights. Preclinical work suggests possible benefit in other indications.
| Product or program | What it is | Stage |
|---|---|---|
| Simufilam | Small-molecule oral filamin A modulator for TSC-related epilepsy | clinical; TSC-related epilepsy |
| Line | FY2025 | FY2024 |
|---|---|---|
| Research and development | $26.6 million | $69.6 million |
| Net income (loss) | -$91.0 million | -$24.3 million |
| Cash from operations | -$32.3 million | -$116.9 million |
| Cash and equivalents | $95.5 million | $128.6 million |
Our latest story on this, dated Oct 20, 2026: "Fifth Circuit vacates class certification in Filana securities class action". The story links the filing or release it is based on. Read the story.
Our latest story on this, dated Nov 13, 2025: "Cassava Sciences (now Filana Therapeutics) files $200,000,000 shelf, $50,000,000 ATM". The story links the filing or release it is based on. Read the story.
Our latest story on this, dated Oct 20, 2026: "Fifth Circuit vacates class certification in Filana securities class action". The story links the filing or release it is based on. Read the story.
Filana Therapeutics, Inc. trades under the ticker FLNA on NASDAQ.
Filana Therapeutics, Inc. is listed on NASDAQ. Our directory also records these other listings: BMV:FLNA; GETTEX:PX91; LS:A2PGL8; LSX:A2PGL8.
The SEC Central Index Key (CIK) for Filana Therapeutics, Inc. is 1069530. Its filings are on SEC EDGAR.
Our directory records Filana Therapeutics, Inc. under United States.
Our directory classifies Filana Therapeutics, Inc. as: Biotechnology. This is a directory classification, not a description of the pipeline.
The ISIN recorded for Filana Therapeutics, Inc. is US14817C1071.
aibio.space lists Filana Therapeutics, Inc. among 2,820 public biotech companies and publishes its news here as stories appear.
SEC records list its state or country of incorporation as DE.
Filana Therapeutics, Inc., formerly Cassava Sciences, Inc., is a clinical-stage biotechnology company based in Austin, Texas. Its mission is to develop medicines for central nervous system disorders, such as Tuberous Sclerosis Complex (TSC)-related epilepsy and other diseases linked to dysregulation or overexpression of filamin A. Its lead candidate, simufilam, is a small-molecule oral treatment being studied for TSC-related epilepsy.
Simufilam: Small-molecule oral filamin A modulator for TSC-related epilepsy Stage: clinical; TSC-related epilepsy.
Filana Therapeutics, Inc. reported a net loss of $91.0 million for the fiscal year ended Dec 31, 2025, and used $32.3 million of cash in operations, per its annual report to the SEC.
$26.6 million in the fiscal year ended Dec 31, 2025, per its annual report.
Disclosed a shareholder lawsuit, subpoena or other legal matter. SEC Form 8-K (Items 8.01). Source
Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 3.01). Source
Set up an at-the-market program to sell shares over time. SEC Form S-3. Source
Reported a restructuring, a workforce reduction or a review of strategic alternatives. SEC Form 8-K (Items 2.02,2.05,8.01,9.01). Source
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