Cassava Sciences reports FY2023 net loss of $97.2M; Phase 3 topline data expected year-end 2024

FILANA THERAPEUTICS, INC.

2024-FY EPS reported -$2.32 vs consensus -$0.67 ▼ miss (-247.3%)

Net loss $97.2M ($2.32/share) vs $76.2M ($1.90) in 2022; R&D expenses $89.4M.
Cash and equivalents $121.1M at 12/31/23; $21.8M raised in 2024 from warrant exercises.
Over 555 patients completed Phase 3 studies; topline data for 52-week trial expected year-end 2024.
Internal investigation found no evidence substantiating allegations of research misconduct.
Net cash used in operations $82M in 2023; expected $35-45M in H1 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

FILANA THERAPEUTICS, INC. reported full year ended December 31, 2023 results: net income net loss of $97.2 million, EPS loss of $2.32 per share.

Period: full year ended December 31, 2023
Net income: net loss of $97.2 million
EPS: loss of $2.32 per share
Result: reported results

Exact text from the filing

Net loss for full year 2023 was $97.2 million, or $2.32 per share, compared to a net loss of $76.2 million, or $1.90 per share, in 2022.

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Source: SEC EDGAR

accession 0001171843-24-001035

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