Filana Therapeutics (FLNA) Q3 2026 earnings summary

Executive summary

• Q3 net loss was $10.7M, versus $10.8M a year earlier; 9M net loss narrowed to $29.7M from $78.4M, primarily reflecting lower operating expenses after the Alzheimer’s program wind-down and lower prior-year legal charges.

• FDA lifted the clinical hold on simufilam for TSC-related epilepsy in September 2026; Phase 2a patient screening is targeted by Q1 2027.

Financial highlights

• Q3 operating expenses and operating loss were $11.3M, down from $11.9M; R&D was $3.9M versus $4.0M and G&A was $7.4M versus $7.9M.

• 9M operating expenses were $31.8M versus $81.8M; R&D was $11.7M versus $22.7M and G&A was $20.1M versus $59.1M.

• 9M net loss was $29.7M versus $78.4M, or $0.61 versus $1.62 per share; Q3 loss per share was $0.22 in both years.

• No product revenue; 9M operating cash use was $18.8M versus $22.5M, and cash and cash equivalents were $47.0M at September 30, 2026, with no debt.

Outlook and guidance

• Planned 16-week Phase 2a study in refractory TSC-related seizures targets ~40 patients ages 12–55 at ~13 U.S. sites; screening is expected by Q1 2027.

• H2 2026 operating cash use was forecast at $11M–$15M, with year-end cash and cash equivalents estimated at $38M–$42M.

• Near-term R&D spending for TSC-related epilepsy is expected to be significantly lower than for the former Alzheimer’s program; G&A is also expected to decrease.

• Cash and cash equivalents are expected to fund operations for at least 12 months; future financing may be sought, with availability and terms uncertain.