Filana Therapeutics Inc.
FLNA evidence brief
What we can confirm
- BioSniper Score:
- 7.4 / 10
- Market Cap:
- $46.6M
- Cash Runway:
- 29.3 mo
What it means
What to watch
Prepared research question
What matters most for FLNA—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · FLNA
Filana Therapeutics Inc. (FLNA) is a biotechnology company developing simufilam, an oral small molecule targeting filamin A, for Alzheimer disease (Phase 3) and tuberous sclerosis complex-related epilepsy (Phase 2a after FDA lift of clinical hold).
Key risk: Clinical hold history
BioSniper Score
Based on 4 of 6 signals
Financial data as of Mar 31, 2026.
Tracking 2 pipeline candidates · 123 clinical trials for Filana Therapeutics Inc..
Filana Therapeutics Inc. (FLNA) is a biotechnology company developing simufilam, an oral small molecule targeting filamin A, for Alzheimer disease (Phase 3) and tuberous sclerosis complex-related epilepsy (Phase 2a after FDA lift of clinical hold).
- Cash & equivalents of $86.6M as of 2026-03-31 [sec].
- Net income of -$10.3M as of 2026-03-31 [sec].
- Shareholders' equity of $68.1M as of 2026-03-31 [sec].
- Simufilam is in Phase 3 for Alzheimer Disease and has an FDA lift of clinical hold for a Phase 2a study in TSC-related epilepsy, with patient screening expected to begin by Q1 2027 [news · 2026-09-22].
- Simufilam targets filamin A (FLNA) and disrupts amyloid binding to the α7 nicotinic acetylcholine receptor [pipeline].
What works
- Cash position of $86.6M as of 2026-03-31 provides a substantial runway for ongoing operations and clinical development [sec].
- FDA lift of clinical hold on simufilam for TSC-related epilepsy enables a new Phase 2a study, expanding the pipeline beyond Alzheimer disease [news · 2026-09-22].
- Simufilam has a novel mechanism of action targeting filamin A, which may offer a differentiated approach in Alzheimer disease [pipeline].
What to weigh
- Net loss of $10.3M as of 2026-03-31 indicates the company is not yet profitable [sec].
- Simufilam faces a competitive landscape with 330 competitors in Alzheimer disease, including multiple Phase 2 programs [pipeline].
- The Phase 2a study in TSC-related epilepsy has not yet started patient screening (expected Q1 2027), so clinical data are not yet available [news · 2026-09-22].
From the filings
Quoted directly from source documents.
FDA lift of clinical hold for Phase 2a in TSC-related epilepsy
“FDA Lifts Clinical Hold Form Filana Therapeutics' Investigational New Drug Application To Initiate Planned Phase 2a Trial In Participants With Tuberous Sclerosis Complex-Related Epilepsy”
News · September 22, 2026
Simufilam mechanism of action in Alzheimer disease
“Targets filamin A (FLNA); disrupts amyloid binding to the α7 nicotinic acetylcholine receptor (α7nAChR) and restores function of key brain receptors”
Risks & what to watch (3)›
Key risks
- Clinical hold history — Simufilam was under clinical hold for TSC-related epilepsy; while lifted, the prior hold indicates regulatory scrutiny [news · 2026-09-22].
- Phase 3 Alzheimer risk — Simufilam is in Phase 3 for Alzheimer disease, a notoriously high-risk area with many failures [pipeline].
- Cash burn rate — With a net loss of $10.3M in the latest period, the $86.6M cash position may support only limited operations without additional funding [sec].
What to watch
- Initiation of patient screening for the Phase 2a study in TSC-related epilepsy, expected by Q1 2027 [news · 2026-09-22].
- Any updates on the Phase 3 Alzheimer disease trial for simufilam [pipeline].
- Financial reports for subsequent quarters to assess cash runway and net income trends [sec].
Sources: Catalysts · News · Pipeline · Generated October 3, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
29.3 months
D/E 0.59
Lead: Phase 3
2 candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Runway
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
100
Total value held
$22.2M
| Holder | Shares | Value |
|---|---|---|
| marshall wace, llp | 2,012,543 | $3.4M |
| two sigma investments, lp | 1,988,814 | $3.4M |
| vanguard capital management llc | 1,930,943 | $3.3M |
| blackrock, inc. | 1,414,514 | $2.4M |
| geode capital management, llc | 596,242 | $1.0M |
| d. e. shaw & co., inc. | 559,205 | $945K |
| gmt capital corp | 450,100 | $761K |
| susquehanna international group, llp | 447,278 | $756K |
| renaissance technologies llc | 326,759 | $552K |
| group one trading llc | 302,624 | $511K |
Showing top 10 of 100 institutional holders of Filana Therapeutics Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 12, 2026- % of float
- 14.6%
- Days to cover
- 19.0
- Shares short
- 6,925,885
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
FLNA short interestGovernance
Frequently asked questions
What is the AI investment thesis for Filana Therapeutics Inc.?
Filana Therapeutics Inc. (FLNA) is a biotechnology company developing simufilam, an oral small molecule targeting filamin A, for Alzheimer disease (Phase 3) and tuberous sclerosis complex-related epilepsy (Phase 2a after FDA lift of clinical hold).
What is Filana Therapeutics Inc.'s lead drug candidate?
Filana Therapeutics Inc.'s most advanced tracked candidate is simufilam (Phase 3) for Alzheimer Disease; Alzheimer's Disease; Absorption.
Who is the CEO of Filana Therapeutics Inc.?
Mr. Richard Jon Barry is the chief executive officer of Filana Therapeutics Inc. (FLNA).
Where is Filana Therapeutics Inc. headquartered?
Filana Therapeutics Inc. (FLNA) is headquartered in Austin, TX, United States.
What therapeutic areas does Filana Therapeutics Inc. focus on?
Filana Therapeutics Inc. develops therapies across Oncology, Rare Disease, Gene Therapy, Neurology, Immunology, Cardiovascular, Infectious Disease, Metabolic, Pain, Dermatology, Hematology, Nephrology, Musculoskeletal, Reproductive, Psychiatry.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.