FLNA

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Filana Therapeutics, Inc.

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Key Metrics

Previous Close: $0.96
52-Week Range: $0.85 – $4.98
Market Cap: $44.93M
P/E (TTM): —
EPS (TTM): -0.87
Dividend Yield: —

Advanced Metrics

Price/Book: 0.71
PEG Ratio: 1.62
Return on Equity: -55.78%
Return on Assets: -7.14%
Gross Margin: 0.00%
Operating Margin: 0.00%
Profit Margin: 0.00%
Current Ratio: 2.08
Debt/Equity: —
Total Debt: $0.00
Free Cash Flow: $3.98M
Revenue Growth: —
Earnings Growth: —
Enterprise Value: $-37.75M

FLNA Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$0.00	$0.00	$0.00	$0.00
Research & Development	$68.03M	$89.42M	$69.64M	$26.59M
Selling, General & Admin	$11.99M	$16.53M	$71.81M	$68.80M
Operating Expenses	$80.02M	$105.96M	$142.28M	$96.13M
Operating Income	-$80.02M	-$105.96M	-$142.28M	-$96.13M
EBITDA	-$78.72M	-$104.43M	-$141.15M	-$95.19M
Pretax Income	-$76.25M	-$97.22M	-$24.34M	-$90.97M
Net Income	-$76.25M	-$97.22M	-$24.34M	-$90.97M
Diluted EPS	-1.90	-2.32	-1.46	-1.88
Diluted Shares	40.20M	41.93M	46.60M	48.30M

FLNA Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$201.01M	$121.14M	$128.57M	$95.50M
Receivables	$0.00	$962.00K	$947.00K	$120.00K
Current Assets	$211.23M	$129.63M	$136.53M	$97.71M
Total Assets	$234.83M	$151.66M	$157.53M	$118.36M
Current Liabilities	$7.06M	$14.20M	$11.75M	$43.83M
Total Debt	$139.00K	$0.00	—	—
Total Liabilities	$7.29M	$14.20M	$11.83M	$43.95M
Retained Earnings	-$283.55M	-$380.77M	-$405.11M	-$496.08M
Shareholders' Equity	$227.54M	$137.47M	$145.70M	$74.40M
Working Capital	$204.16M	$115.44M	$124.78M	$53.88M

FLNA Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$77.51M	-$82.03M	-$116.93M	-$32.25M
Capital Expenditure	-$2.71M	-$414.00K	-$103.00K	-$581.00K
Free Cash Flow	-$80.23M	-$82.44M	-$117.03M	-$32.83M
Depreciation & Amortisation	$1.30M	$1.53M	$1.13M	$936.00K
Stock-Based Compensation	$2.07M	$4.59M	$16.29M	$19.58M
Investing Cash Flow	-$2.71M	-$414.00K	-$103.00K	-$581.00K
Financing Cash Flow	$47.80M	$2.56M	$124.47M	-$239.00K
Net Change in Cash	-$32.42M	-$79.88M	$7.44M	-$33.07M

FLNA Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$0.00	$0.00	$0.00	$0.00	$0.00
Research & Development	$5.12M	$3.96M	$3.85M	$4.54M	$3.30M
Selling, General & Admin	$40.28M	$7.91M	$9.70M	$6.62M	$6.09M
Operating Expenses	$45.39M	$11.86M	$14.29M	$11.17M	$9.39M
Operating Income	-$45.39M	-$11.86M	-$14.29M	-$11.17M	-$9.39M
EBITDA	-$45.17M	-$11.73M	-$13.92M	-$10.93M	-$9.15M
Pretax Income	-$44.22M	-$10.81M	-$12.54M	-$10.33M	-$8.60M
Net Income	-$44.22M	-$10.81M	-$12.54M	-$10.33M	-$8.60M
Diluted EPS	-0.92	-0.22	-0.26	-0.21	-0.18
Diluted Shares	48.31M	48.31M	48.31M	48.31M	48.31M

FLNA Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$112.38M	$106.08M	$95.50M	$86.57M	$82.68M
Receivables	$835.00K	$817.00K	$120.00K	$117.00K	$0.00
Current Assets	$114.82M	$108.91M	$97.71M	$87.96M	$83.72M
Total Assets	$135.38M	$129.73M	$118.36M	$108.37M	$103.90M
Current Liabilities	$47.33M	$48.05M	$43.83M	$40.12M	$40.16M
Total Liabilities	$47.41M	$48.16M	$43.95M	$40.23M	$40.29M
Retained Earnings	-$472.74M	-$483.55M	-$496.08M	-$506.42M	-$515.02M
Shareholders' Equity	$87.97M	$81.57M	$74.40M	$68.14M	$63.61M
Working Capital	$67.49M	$60.86M	$53.88M	$47.85M	$43.56M

FLNA Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	-$4.95M	-$6.22M	-$9.75M	-$8.88M	-$3.85M
Capital Expenditure	—	—	-$501.00K	—	—
Free Cash Flow	-$4.95M	-$6.30M	-$10.25M	-$8.88M	-$3.88M
Depreciation & Amortisation	$218.00K	$131.00K	$367.00K	$243.00K	$244.00K
Stock-Based Compensation	$4.58M	$4.40M	$5.37M	$4.07M	$4.07M
Investing Cash Flow	$0.00	-$80.00K	-$501.00K	—	—
Financing Cash Flow	$0.00	$0.00	-$329.00K	-$51.00K	-$16.00K
Net Change in Cash	-$4.95M	-$6.30M	-$10.58M	-$8.93M	-$3.89M

Market Snapshot

About

Filana Therapeutics, Inc. (FLNA) is a biotechnology company based in Austin, Texas, that is best known for its clinical-stage drug development programs targeting neurodegenerative diseases, with its primary focus on Alzheimer's disease.

The company's main therapeutic candidate is simufilam, a small molecule drug undergoing a Phase 3 clinical trial for the treatment of Alzheimer's disease. This trial represents a late-stage evaluation of the compound's potential efficacy and safety. Filana Therapeutics is also developing an investigational diagnostic product called SavaDx, an early-stage program intended to detect Alzheimer's disease from a small blood sample.

Founded in 1998, the company operates in the clinical-stage biotech sector, advancing its programs through the regulatory and trial processes required to bring new treatments and diagnostics to market. Its strategy centers on addressing Alzheimer's disease through both a potential therapeutic intervention and a companion diagnostic tool. The company was formerly known as Cassava Sciences, Inc. before changing its name to Filana Therapeutics, Inc. in March 2026.