May. 7 at 12:51 PM
$FLNA
Cash and cash equivalents at March 31, 2026 were
$86.6 million, compared to
$95.5 million as of December 31, 2025. The Company has no debt. The Company estimates cash at June 30, 2026 in a range from
$47 to
$50 million.
Research and development (R&D) expenses were
$4.5 million. This compared to
$13.7 million for the same period in 2025. This 67% decrease was due primarily to the previously reported phase out of the
Alzheimer's disease development program, completed in the second quarter of 2025. Expenses for the TSC-related epilepsy program are expected to be significantly lower compared to those for the Alzheimer's disease program.
General and administrative (G&A) expenses were
$6.6 million. This compared to
$10.9 million for the same period in 2025. The 39% decrease was due primarily to legal loss contingencies of
$3.0 million recorded in Q1 2025 not being repeated in 2026.
NOT GOOD.!
