FILANA THERAPEUTICS, INC.

Listed Company

FLNACIK 0001069530NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-90.97M

Total Assets

$118.36M

Equity

$74.40M

Shares Out

48.31M

Op. Cash Flow

$-32.30M

Business

Cassava Sciences, Inc. is a clinical‑stage biotechnology company that develops therapies and diagnostics to detect and treat central nervous system disorders, with primary focus on Alzheimer’s disease and TSC‑related epilepsy. It develops the oral small‑molecule therapeutic simufilam, which targets filamin A (FLNA), and an investigational blood‑based biomarker assay, SavaDx. The company’s operations center on research and development, intellectual property and collaborations, licensing and outsourced clinical and manufacturing support. It conducts clinical and preclinical studies and works with third‑party partners and trial sites in the U.S. and international markets.

Summary from filing dated 2025-03-03

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Research and development	27	70	89	68	25
General and administrative	69	72	17	12	8
Total operating expenses	95	141	106	80	33
Operating loss	−95	−141	−106	−80	−33
Interest income	5	9	8	3	49,000
Other income (loss), net	−203,000	411,000	907,000	997,000	434,000
Gain from change in fair value of warrant liabilities	0	108	0	0	—
Net loss	−91	−24	−97	−76	−32
Shares used in computing net loss per share, basic (in shares)	48	46	42	40	39
Net loss per share, basic (in dollars per share)	−1.88	−0.53	−2.32	−1.9	−0.82
Adjustment for change in fair value of warrant liabilities	0	−44	0	0	—
Adjusted numerator, diluted	−91	−68	−97	−76	—
Shares used in computing net loss per share, diluted (in shares)	48	47	42	40	—
Net loss per share, diluted (in dollars per share)	−1.88	−1.46	−2.32	−1.9	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	96	129	121	201	233
Prepaid expenses and other current assets	2	8	8	10	11
Total current assets	98	137	130	211	244
Property and equipment, net	21	21	22	23	21
Total assets	118	158	152	235	267
Accounts payable and other accrued expenses	42	8	11	4	—
Accrued development expense	364,000	2	3	2	—
Accrued compensation and benefits	2	1	200,000	170,000	2
Other current liabilities	198,000	299,000	385,000	492,000	631,000
Total current liabilities	44	12	14	7	13
Other non-current liabilities	118,000	79,000	0	197,000	194,000
Total liabilities	44	12	14	7	13
Commitments and contingencies (Notes 10, 11 and 12)	—	—	—	—	—
Preferred stock, $0.001 par value; 10,000,000 shares authorized, none issued and outstanding	0	0	0	0	—
Common stock, $0.001 par value; 120,000,000 shares authorized; 48,307,896 and 48,203,179 shares issued and outstanding at December 31, 2025 and 2024, respectively	48,000	48,000	42,000	42,000	40,000
Additional paid-in capital	570	551	518	511	461
Accumulated deficit	−496	−405	−381	−284	−207
Total stockholders' equity	74	146	137	228	254
Total liabilities and stockholders' equity	118	158	152	235	267

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation	20	16	5	2	2
Depreciation	903,000	952,000	1	804,000	310,000
Amortization of intangible assets	33,000	180,000	446,000	497,000	224,000
Prepaid expenses and other current assets	6	539,000	2	1	−11
Operating lease right-of-use assets and liabilities	0	0	−17,000	−9,000	28,000
Accounts payable and other accrued expenses	34	−3	7	−3	6
Accrued development expense	−2	−597,000	757,000	−523,000	2
Accrued compensation and benefits	268,000	1	30,000	−2	2
Other liabilities	−62,000	−7,000	−304,000	−136,000	731,000
Net cash used in operating activities	−32	−117	−82	−78	−30
Purchases of property and equipment	−581,000	−103,000	−414,000	−3	−22
Net cash used in investing activities	−581,000	−103,000	−414,000	−3	−22
Proceeds from issuance of common stock upon exercise of stock options	90,000	918,000	3	475,000	2
Proceeds from exercise of common stock warrants, net of exercise costs	0	124	0	0	692,000
Net cash (used in) / provided by financing activities	−239,000	124	3	48	192
Net increase (decrease) in cash and cash equivalents	−33	7	−80	−32	140
Issuance of warrants resulting in recognition of warrant liabilities	0	113	0	0	—
Derecognition of warrant liabilities upon exercise of warrants	0	−5	0	0	—

Filings

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