Cassava Sciences Reports 2024 Financial Results and Provides Business Update

FILANA THERAPEUTICS, INC.

Net loss of $24.3 million ($0.53 per share) in 2024 vs $97.2 million in 2023; cash and equivalents $128.6 million with no debt.
Top-line data for REFOCUS-ALZ, second Phase 3 study of simufilam in Alzheimer's, expected late Q1/early Q2 2025.
RETHINK-ALZ Phase 3 study did not meet co-primary endpoints in November 2024; all Alzheimer's clinical studies discontinued.
License agreement with Yale University to explore simufilam for seizures related to tuberous sclerosis complex (TSC).
G&A expenses rose to $71.8 million in 2024 due to $40 million SEC settlement and higher stock-based compensation.

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