---
schema_version: "secwatch.filing_event.v1"
accession: "0001171843-25-002954"
form_type: "8-K"
ticker: "FLNA"
cik: "0001069530"
company_name: "FILANA THERAPEUTICS, INC."
filed_at: "2025-05-08T23:59:59+00:00"
generated_at: "2026-05-22T02:59:48.788565+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Cassava reports Q1 net loss of $23.4M, discontinues Alzheimer's program, pivots to TSC epilepsy

## Summary
- Net loss of $23.4M vs net income of $25.0M in Q1 2024; cash and equivalents $117.3M, no debt.
- R&D expenses $13.7M (down 16% YoY); G&A $10.9M including $3.0M legal accrual, no insurance recoveries.
- Workforce reduced by 10 employees (~33%) in Q1; Alzheimer's program with simufilam to be fully discontinued by end of Q2 2025.
- New license from Yale for TSC-related epilepsy; plans to initiate first clinical study in H1 2026.
- Appointed Dr. Bordey as SVP Neuroscience and Dr. Moore as SVP Clinical Development; CMO Kupiec retiring May 9.

## SEC filing metadata
- accession: 0001171843-25-002954
- form_type: 8-K
- ticker: FLNA
- cik: 0001069530
- company_name: FILANA THERAPEUTICS, INC.
- filed_at: 2025-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1069530/000117184325002954/0001171843-25-002954-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1069530/000117184325002954/f8k_050825.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171843-25-002954
- JSON: https://secwatch.observer/filing/0001171843-25-002954.json
- Plain text: https://secwatch.observer/filing/0001171843-25-002954.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.