Q1 net loss $24.3M ($0.58/sh); 1,244+ patients in Phase 3 simufilam trials

FILANA THERAPEUTICS, INC.

2023-Q1 EPS reported -$0.58

Net loss widened to $24.3M from $17.5M YoY; R&D expense rose to $22.1M on trial costs.
Cash and equivalents $187.5M, no debt; H1 2023 net cash use guidance reduced to $30-40M from $45-50M.
Over 1,244 Alzheimer's patients enrolled in Phase 3 program (target ~1,750); enrollment completion expected Q4 2023.
Phase 2 open-label study showed long-term safety; mild patients had ADAS-Cog improvement vs historical placebo decline.
Cognition Maintenance Study (randomized withdrawal) results expected Q3 2023; filamin A biological data due Q2 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FILANA THERAPEUTICS, INC. reported three months ended March 31, 2023 results: net income $24.3 million, EPS $0.58 per share.

Period: three months ended March 31, 2023
Net income: $24.3 million
EPS: $0.58 per share
Result: reported results

Exact text from the filing

Net loss was $24.3 million, or $0.58 per share, compared to a net loss of $17.5 million, or $0.44 per share, for the same period in 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FILANA THERAPEUTICS, INC. updated its first half 2023 guidance (lowered).

Period: first half 2023
Guidance: lowered
Result: guidance update

Exact text from the filing

New guidance for net cash use in first half 2023 is expected to be $30 to $40 million, which is revised downward from our previous guidance of $45 to $50 million, due primarily to the timing of certain clinical payment obligations.

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310 earnings releases filed in the last 30 days. Browse all earnings releases →

FILANA THERAPEUTICS, INC. filing history →

Source: SEC EDGAR

accession 0001171843-23-002712

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