Cassava Sciences agrees to $40M SEC settlement; ReTHINK Phase 3 top-line due by year end

FILANA THERAPEUTICS, INC.

Agreed to pay $40M civil penalty to SEC for negligent disclosures related to Phase 2b study; DOJ not expected to charge company.
ReTHINK Phase 3 (804 patients, 77 sites) completed last patient visit; top-line results expected before year end 2024.
ReFOCUS Phase 3 (1,125 patients) results expected mid-2025; DSMB recommended program continuation without modification.
Separated CEO and Board Chair roles as part of governance enhancements; Rick Barry remains CEO.
Nearly 90% of Phase 3 patients elected open-label extension trial; Phase 2 data showed mild patients stable over 24 months on simufilam.

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