Cassava Sciences Q3 net loss $20.3M; Phase 3 Alzheimer's trial enrollment tops 650

FILANA THERAPEUTICS, INC.

Net loss $20.3M ($0.51/share) vs $9.6M loss in Q3 2021; R&D expenses rose to $18.5M.
Cash and equivalents $174.7M with no debt; FY 2022 cash burn guidance $80-90M.
Over 650 patients now enrolled in simufilam Phase 3 studies, up from 150 six months ago.
Open-label study results expected year-end 2022; Cognition Maintenance Study results Q3 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FILANA THERAPEUTICS, INC. updated its full-year 2022 guidance (reaffirmed).

Period: full-year 2022
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Net cash use for operations for full-year 2022 is expected to be approximately $80 to $90 million, consistent with previous guidance.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FILANA THERAPEUTICS, INC. reported the third quarter ended September 30, 2022 results: net income $20.3 million, or $0.51 per share, EPS $0.51 per share.

Period: the third quarter ended September 30, 2022
Net income: $20.3 million, or $0.51 per share
EPS: $0.51 per share
Result: reported results

Exact text from the filing

Net loss for third quarter 2022 was $20.3 million, or $0.51 per share, compared to a net loss of $9.6 million, or $0.24 per share, for the same period in 2021.

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Source: SEC EDGAR

accession 0001171843-22-007153

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