--- title: "Filana Therapeutics gets Nasdaq bid price notice" url: "https://aibio.space/news/filana-therapeutics-gets-nasdaq-bid-price-notice-has-until-march-16/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-09-18" section: "Listings" tickers: "NASDAQ:FLNA" source: "https://www.sec.gov/Archives/edgar/data/1069530/000143774926030751/sava20260918_8k.htm" summary: "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" --- By the aibio.space news desk. Sources - [Filana Therapeutics, Inc. 8-K (2026-09-18)](https://www.sec.gov/Archives/edgar/data/1069530/000143774926030751/sava20260918_8k.htm) - [Filana Therapeutics, Inc. 10-K (2026-03-12): business](https://www.sec.gov/Archives/edgar/data/1069530/000143774926007962/sava20251231_10k.htm) - [Filana Therapeutics, Inc. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1069530/000143774926007962/) [FLNA](https://aibio.space/companies/filana-therapeutics/) 2026-09-18 # Filana Therapeutics gets Nasdaq bid price notice, has until March 16, 2027 Tickers [FLNA](https://aibio.space/companies/filana-therapeutics/) 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. ## Key facts - **Company**: Filana Therapeutics, Inc. (NASDAQ: FLNA) - **News type**: Listings - **Primary source**: [Filana Therapeutics, Inc. 8-K (2026-09-18)](https://www.sec.gov/Archives/edgar/data/1069530/000143774926030751/sava20260918_8k.htm) *A stone federal courthouse. Photo: Carol M Highsmith, CC0, via rawpixel. The picture shows the field, not the companies named.* ## The notice Filana Therapeutics, Inc. received written notice from Nasdaq on September 17, 2026 that its common stock is out of compliance with the $1.00 minimum bid price for continued listing on the Nasdaq Capital Market. The notice cites Nasdaq Listing Rule 5550(a)(2) and says the bid price closed below $1.00 for the last 30 consecutive business days. The company reported it in an [8-K](https://www.sec.gov/Archives/edgar/data/1069530/000143774926030751/sava20260918_8k.htm) filed September 18, 2026, signed by chief financial officer Eric J. Schoen. The notice has no effect at this time on trading, which continues under the symbol FLNA. Under Nasdaq Listing Rule 5810(c)(3)(A), the company has 180 calendar days, or until March 16, 2027, to regain compliance. To do so, the closing bid price must meet or exceed $1.00 for at least ten consecutive business days in that period. If the company is not compliant by then, it may qualify for a second 180-day period. If it does not qualify, or fails to regain compliance, Nasdaq will notify it of a delisting determination, and the company could appeal to a Nasdaq hearings panel. The company says it will actively monitor its closing bid price and may consider available options to regain compliance. The 8-K does not describe those options. ## From Alzheimer's to epilepsy The company's [10-K for 2025](https://www.sec.gov/Archives/edgar/data/1069530/000143774926007962/sava20251231_10k.htm), filed March 12, 2026, says the company was formerly Cassava Sciences, Inc. Its lead drug candidate, simufilam, was in two Phase 3 studies for Alzheimer's disease through 2024, when all ongoing Alzheimer's trials were discontinued. The phase-out of that program was completed in the second quarter of 2025. Simufilam is now being studied for TSC-related epilepsy under a license agreement with Yale University signed February 26, 2025. The license gives Filana exclusive worldwide rights, with the right to sublicense, and includes milestone payments, royalties on net sales and other contingent payments, including payments tied to a regulatory priority review voucher if one is issued. The company says commercial sales may be subject to royalty obligations to Yale. The support for the TSC program is preclinical. The 10-K says research conducted at Yale "indicates that simufilam (then PTI-125) may be effective in reducing TSC-related seizure activity." The 10-K cites a 2014 Neuron paper that describes filamin A overexpression in tissue from TSC patients and genetic changes in mice. Its description in the 10-K does not mention simufilam. Citing the Tuberous Sclerosis Alliance, the 10-K puts TSC at about 1 in 6,000 live births, with approximately 50,000 people affected in the United States. It says about 60 percent of TSC patients have treatment-resistant seizures. Filana holds nine issued United States patents covering simufilam's composition, solid forms and uses, with expiration dates from 2029 to 2040, subject to possible extensions. ## The money The financial data summary, drawn from the 10-K filed March 12, 2026, shows research and development expense of $26.6 million for 2025, against $69.6 million for 2024. Cash used in operations was $32.3 million in 2025, against $116.9 million in 2024. The company reported a net loss of $91.0 million for 2025. The summary does not explain why that loss is far larger than the cash used in operations. Cash and cash equivalents were $95.5 million at the end of 2025, down from $128.6 million at the end of 2024. The company reported $86.6 million at March 31, 2026, in its first-quarter 10-Q. The latest figure given is that March 31 balance. ## What comes next The next dated milestone is March 16, 2027, the end of the first compliance period. The company's options include a second 180-day period, or a delisting determination that it could appeal. The notice does not say whether the company will seek a reverse stock split, and the 8-K does not describe a plan for raising capital. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story FLNA Filana Therapeutics, Inc. 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Cite as: aibio.space, "Filana Therapeutics gets Nasdaq bid price notice", 2026-09-18, https://aibio.space/news/filana-therapeutics-gets-nasdaq-bid-price-notice-has-until-march-16/