Filana Therapeutics Inc.
FLNA evidence brief
What we can confirm
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 clinical-stage biopharmaceutical company focused on developing investigational drug candidates, with a current cash position of $86.6M as of March 31, 2026, and a history of financing operations through public and private stock offerings.
Key risk: No approved products or revenue
BioSniper Score
Based on 5 of 6 signals
Market Cap
$44.9M
Cash Runway
29.4 moLead Asset
simufilam (Phase 3)Next Catalyst
Phase2_Start · Oct 1, 2026Financial data as of Mar 31, 2026.
Tracking 2 pipeline candidates · 124 clinical trials · 7 catalysts for Filana Therapeutics Inc..
Filana Therapeutics Inc. (FLNA) is a clinical-stage biopharmaceutical company focused on developing investigational drug candidates, with a current cash position of $86.6M as of March 31, 2026, and a history of financing operations through public and private stock offerings.
- Cash and equivalents of $86.6M as of March 31, 2026 [sec].
- Net loss of $10.3M for the quarter ended March 31, 2026 [sec].
- Shareholders' equity of $74.4M as of March 31, 2026 [sec].
- Research and development expenses were $4.5M for Q1 2026, down from $13.7M in Q1 2025 [sec_mda · as of 2026-05-07].
- Company believes current cash will fund operations for at least the next 12 months [sec_mda · as of 2026-05-07].
What works
- Cash runway of at least 12 months based on current cash and planned spending [sec_mda · as of 2026-05-07].
- Reduction in R&D expenses from $13.7M to $4.5M year-over-year in Q1 2026 may indicate improved capital efficiency [sec_mda · as of 2026-05-07].
- Multiple clinical-stage programs with active or completed trials across various indications, including CAR-T and oncology [catalyst].
What to weigh
- Net loss of $10.3M in Q1 2026 indicates ongoing cash burn [sec].
- No approved products or revenue streams mentioned in the provided data [sec].
- Several clinical trials have been terminated, including a Phase 3 Alzheimer's study (NCT05026177) and a simufilam long-term extension study (NCT05575076) [catalyst].
- Reliance on future financing, with no assurances that additional funding will be available on favorable terms [sec_mda · as of 2026-05-07].
From the filings
Quoted directly from source documents.
R&D expenses for Q1 2026
“Research and development expenses were $4.5 million and $13.7 million during the three months ended March 31, 2026 and 2025, respectively.”
SEC MD&A · May 7, 2026
Cash runway guidance
“We believe that our current cash and cash equivalents will be sufficient to fund our operations for at least the next 12 months.”
SEC MD&A · May 7, 2026
Catalyst timeline
- 2026-10-01 · Phase2_Start — A multicenter, open-label, randomized controlled clinical study comparing efficacy and safety of an investigational therapy.
- 2026-10-17 · Phase3_Topline — Topline results for haploidentical allogeneic peripheral blood transplantation trial.
- 2027-03-01 · Phase3_Topline — Topline results for a randomized double-blind double-dummy trial comparing rituximab versus control.
- 2032-03-01 · Phase3_Topline — Topline results for TBI-1301 (mipetresgene autoleucel) in NY-ESO-1 positive patients.
Risks & what to watch (4)›
Key risks
- No approved products or revenue — Company has no marketed products or reported revenue, relying solely on financing and collaborations [sec].
- Clinical trial terminations — Several Phase 3 trials, including Alzheimer's and simufilam studies, have been terminated [catalyst].
- Future financing uncertainty — No assurance that additional funding will be available on favorable terms [sec_mda · as of 2026-05-07].
- Dependence on investigational candidates — All assets are investigational and subject to regulatory approval risks [sec · filed 2025-08-04].
What to watch
- Upcoming Phase 2 start on 2026-10-01 for a multicenter randomized controlled study [catalyst].
- Phase 3 topline results for haploidentical transplantation on 2026-10-17 [catalyst].
- Phase 3 topline for rituximab combination on 2027-03-01 [catalyst].
- Phase 3 topline for TBI-1301 (mipetresgene autoleucel) on 2032-03-01 [catalyst].
Sources: Catalysts · SEC filings · SEC MD&A · Generated August 28, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
29.4 months
D/E 0.59
Lead: Phase 3
2 candidates
7 upcoming, next in ~32d
No insider transactions in the last 180 days
Runway
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
100
Total value held
$26.2M
| Holder | Shares | Value |
|---|---|---|
| vanguard capital management llc | 3,861,886 | $6.5M |
| marshall wace, llp | 2,012,543 | $3.4M |
| two sigma investments, lp | 1,988,814 | $3.4M |
| blackrock, inc. | 1,414,514 | $2.4M |
| susquehanna international group, llp | 749,178 | $1.3M |
| geode capital management, llc | 596,242 | $1.0M |
| d. e. shaw & co., inc. | 559,205 | $945K |
| jane street group, llc | 328,564 | $555K |
| renaissance technologies llc | 326,759 | $552K |
| citadel advisors llc | 311,100 | $526K |
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 clinical-stage biopharmaceutical company focused on developing investigational drug candidates, with a current cash position of $86.6M as of March 31, 2026, and a history of financing operations through public and private stock offerings.
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.
What is Filana Therapeutics Inc.'s next catalyst?
Filana Therapeutics Inc.'s next tracked catalyst is a Phase2_Start event — "Phase 2 Start: A Multicenter, Open-label, Randomized Controlled Clinical Study Comparing the Efficacy and Safety of" — expected October 1, 2026.
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.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.