Cassava Sciences completes Phase 3 enrollment for simufilam; Q3 net loss $25.7M

FILANA THERAPEUTICS, INC.

2024-Q3 EPS reported -$1.82 vs consensus -$0.90 ▼ miss (-102.8%)

Enrollment completed: 1,929 patients randomized across two Phase 3 trials of simufilam for Alzheimer's.
Top-line results expected year-end 2024 (52-week trial) and mid-2025 (76-week trial).
Cash and equivalents $142.4M at Sept 30, 2023; no debt.
Q3 net loss $25.7M ($0.61/sh) vs $20.3M ($0.51/sh) in Q3 2022, driven by higher clinical costs.
Interim MRI safety data suggests simufilam not associated with ARIA; DSMB recommends continuation.

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. reported the third quarter ended September 30, 2023 results: net income $25.7 million, or $0.61 per share, EPS $0.61 per share.

Period: the third quarter ended September 30, 2023
Net income: $25.7 million, or $0.61 per share
EPS: $0.61 per share
Result: reported results

Exact text from the filing

Net loss was $25.7 million, or $0.61 per share. This compares to a net loss of $20.3 million, or $0.51 per share, for the same period in 2022.

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Source: SEC EDGAR

accession 0001171843-23-006800

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