EarningsQ3 2024 Earnings Report

Filana Therapeutics (FLNA) Q3 2024 Earnings Report

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Previous Report: Q2 2024

Next Report: Q4 2024

MX:FLNA Q3 2024 EPS Results

Actual EPS-$10.61

Consensus EPS-$13.36

Beat/MissBeat by +$2.74

One Year Ago EPS-$11.16

MX:FLNA Q3 2024 Revenue Results

Actual Revenue$0.00

Expected Revenue$0.00

Beat/MissMet expectations

YoY Revenue Growth―

Earnings Announcement Details

QuarterQ3 2024

Date11/07/2024

TimeBefore Open

Conference CallThursday, November 7, 2024

MX:FLNA Upcoming Earnings

Filana Therapeutics's next earnings date is estimated for November 11, 2026, based on past reporting schedules.

Q3 2024 Earnings Call Audio

MX:FLNA Q3 2024 Earnings Call

0:00 / 0:00

Q3 2024 Earnings Slide Deck

No slide deck is available for this earnings event.

Q3 2024 Earnings Call Summary

Q3 2024

Earnings Call Date:Nov 07, 2024|

% Change Since:

Earnings Call Sentiment|Neutral

The earnings call presented a mix of promising progress in clinical trials and financial stability, but also highlighted increased administrative costs and legal challenges. The anticipation of Phase III trial results is a critical point of focus.

Company Guidance

During Cassava Sciences' Q3 2024 earnings call, CEO Richard Barry provided guidance on the company's upcoming milestones and financial outlook. He emphasized the anticipated release of top-line results from the Phase III RETHINK-ALZ trial before the end of the year, highlighting the potential for a best-in-class treatment for Alzheimer's disease. The company plans to report biomarker data for approximately 100 patients, focusing on plasma markers such as pTau 217, Neurofilament Light Chain (NFL), Glial Fibrillary Acidic Protein (GFAP), and total tau. Financially, Cassava Sciences ended the quarter with $149 million in cash, which is expected to be sufficient for operations through the conclusion of ongoing Phase III trials and into 2026. Net cash used in operations for the first nine months of 2024 was $55.7 million, with projections for the second half ranging between $80 million and $90 million, inclusive of a $40 million SEC settlement. The company's net loss for Q3 was $27.9 million, with R&D expenses decreasing as more patients transition to a lower-cost open-label study.

Phase III Trial Progress

Announced the last patient visit for the Phase III trial RETHINK-ALZ, with top-line results expected by the end of the year.

Cash Position and Financial Stability

Ended Q3 with $149 million in cash, expected to fund operations through the conclusion of ongoing Phase III trials and into 2026.

Reduced R&D Expenses

R&D expenses for Q3 were $17.7 million, down from $23.6 million in the same period last year as more patients transition from Phase III to lower-cost open-label studies.

Biomarker Innovation

Discussed the potential of plasma biomarker tests with high correlation to Alzheimer's diagnosis, which could transform treatment by primary care physicians.

MX:FLNA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Nov 11, 2026	2026 (Q3)	-4.48 / -	-4.025	―
Aug 05, 2026	2026 (Q2)	-4.12 / -3.29	-16.831	80.43% (+13.54)
May 07, 2026	2026 (Q1)	-4.21 / -3.84	-8.781	56.25% (+4.94)
Mar 12, 2026	2025 (Q4)	-5.49 / -4.76	-10.428	54.39% (+5.67)
Nov 12, 2025	2025 (Q3)	-4.94 / -4.02	-10.611	62.07% (+6.59)
Aug 14, 2025	2025 (Q2)	- / -16.83	2.378	-807.69% (-19.21)
May 08, 2025	2025 (Q1)	- / -8.78	-7.867	-11.63% (-0.91)
Mar 03, 2025	2024 (Q4)	-10.67 / -10.43	-9.147	-14.00% (-1.28)
Nov 07, 2024	2024 (Q3)	-13.36 / -10.61	-11.16	4.92% (+0.55)
Aug 08, 2024	2024 (Q2)	-7.45 / 2.38	-11.526	120.63% (+13.90)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed