Cassava Sciences settles SEC probe for $40M; DOJ not expected to charge company

FILANA THERAPEUTICS, INC.

Agreed to pay $40M civil penalty without admitting or denying SEC allegations of negligence-based disclosure violations.
Resolution covers statements about 2020 Phase 2b simufilam trial; DOJ Criminal Division not expected to bring charges.
Rick Barry appointed Executive Chairman (July 17) and CEO (Sept 6) as part of governance enhancements.
Net cash use H2 2024 estimated $80-90M including penalty; year-end cash projected $117-127M.
Settlement subject to U.S. District Court approval; company had previously reserved $40M loss contingency.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.