Filana Therapeutics, Inc.
FLNAHealthcare|Biotechnology|US
$0.45
+0.00 (+0.38%)
DCF Value
$1.85
Tangible Book / Share
$1.20
Cash / Share
$0.97
Financials
Financial Snapshot
Market Cap
$21.9M
Enterprise Value
-$25.1M
Revenue (TTM)
$0.00
Net Income (TTM)
-$42.2M
Cash & Investments
$47.0M
Net Cash
$47.0M
Free Cash Flow (TTM)
-$26.6M
Operating CF (TTM)
-$25.9M
Debt/Equity
0.00
Cash Runway & Burn Rate
Cash on Hand
$47.0M
Quarterly Burn
$6.5M
Monthly Burn
$2.2M
Est. Runway
~7.3 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $18.7M | $10.5M | $19.8M | $23.1M | $93.5M | $233.4M | $201.0M | $121.1M | $128.6M | $95.5M | $47.0M | |
| Operating Cash Flow | -$12.2M | -$8.2M | -$4.8M | -$2.5M | -$5.4M | -$30.2M | -$77.5M | -$82.0M | -$116.9M | -$32.3M | -$25.9M | |
| Free Cash Flow | -$12.3M | -$8.2M | -$4.8M | -$2.5M | -$5.4M | -$52.4M | -$80.2M | -$82.4M | -$117.0M | -$32.8M | -$26.6M | |
| Capital Expenditure | -$75.0K | $0.00 | $0.00 | -$18.0K | $0.00 | -$22.2M | -$2.7M | -$414.0K | -$103.0K | -$581.0K | -$633.0K | |
| Financing Cash Flow | -$284.0K | $0.00 | $14.1M | $5.8M | $75.4M | $192.3M | $47.8M | $2.6M | $124.5M | -$239.0K | $1.3M |
R&D Spending
R&D (TTM)
$15.6M
R&D Intensity
—
R&D Growth vs Prior
-41.5%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $9.2M | $7.6M | $3.0M | $6.3M | $7.3M | $24.8M | $68.0M | $89.4M | $69.6M | $26.6M | $15.6M | |
| SG&A | $5.7M | $4.3M | $3.6M | $3.3M | $3.7M | $8.1M | $12.0M | $16.5M | $71.8M | $67.9M | $28.9M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $58.0K | $68.0K | $69.0K | $58.0K | $22.0K | $0.00 | $0.00 | $0.00 | $0.00 | $936.0K | $910.0K | |
| Gross Profit | -$58.0K | -$68.0K | -$69.0K | -$58.0K | -$22.0K | $0.00 | $0.00 | $0.00 | $0.00 | -$936.0K | -$910.0K | |
| R&D | $9.2M | $7.6M | $3.0M | $6.3M | $7.3M | $24.8M | $68.0M | $89.4M | $69.6M | $26.6M | $15.6M | |
| SG&A | $5.7M | $4.3M | $3.6M | $3.3M | $3.7M | $8.1M | $12.0M | $16.5M | $71.8M | $67.9M | $28.9M | |
| Operating Income | -$15.0M | -$11.9M | -$6.7M | -$9.7M | -$11.0M | -$32.9M | -$80.0M | -$106.0M | -$141.4M | -$95.4M | -$34.1M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$14.8M | -$11.9M | -$6.6M | -$4.6M | -$6.3M | -$32.4M | -$76.2M | -$97.2M | -$24.3M | -$91.0M | -$42.2M | |
| Net Income | -$14.8M | -$11.9M | -$6.6M | -$4.6M | -$6.3M | -$32.4M | -$76.2M | -$97.2M | -$24.3M | -$91.0M | -$42.2M | |
| EPS (Diluted) | -2.31 | -1.82 | -0.61 | -0.27 | -0.24 | -0.82 | -1.90 | -2.32 | -1.46 | -1.88 | -0.87 | |
| EBITDA | -$14.9M | -$11.9M | -$6.6M | -$9.6M | -$11.0M | -$31.9M | -$80.2M | -$105.8M | -$141.1M | -$90.0M | -$31.4M | |
| Shares Out. (M) | 6.52 | 6.54 | 10.68 | 17.41 | 26.11 | 39.41 | 40.20 | 41.93 | 4660.40 | 48.30 | 48.46 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $16.6M | $10.5M | $19.8M | $23.1M | $93.5M | $233.4M | $201.0M | $121.1M | $128.6M | $95.5M | $47.0M | |
| Short-Term Investments | $2.1M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $19.1M | $10.7M | $20.0M | $23.3M | $94.0M | $244.5M | $211.2M | $129.6M | $136.5M | $97.7M | $80.1M | |
| Total Assets | $19.3M | $10.8M | $20.1M | $23.5M | $94.3M | $266.8M | $234.8M | $151.7M | $157.5M | $118.4M | $100.1M | |
| Total Current Liabilities | $665.0K | $1.1M | $511.0K | $1.4M | $1.9M | $12.5M | $7.1M | $14.2M | $11.8M | $43.8M | $41.9M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $665.0K | $1.1M | $511.0K | $1.4M | $2.1M | $12.9M | $7.3M | $14.2M | $11.8M | $44.0M | $42.1M | |
| Stockholders' Equity | $18.6M | $9.7M | $19.6M | $22.1M | $92.2M | $253.9M | $227.5M | $137.5M | $145.7M | $74.4M | $58.0M | |
| Retained Earnings | -$145.5M | -$157.4M | -$164.0M | -$168.6M | -$174.9M | -$207.3M | -$283.6M | -$380.8M | -$405.1M | -$496.1M | -$525.7M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$12.2M | -$8.2M | -$4.8M | -$2.5M | -$5.4M | -$30.2M | -$77.5M | -$82.0M | -$116.9M | -$32.3M | -$25.9M | |
| Capital Expenditure | -$75.0K | $0.00 | $0.00 | -$18.0K | $0.00 | -$22.2M | -$2.7M | -$414.0K | -$103.0K | -$581.0K | -$633.0K | |
| Free Cash Flow | -$12.3M | -$8.2M | -$4.8M | -$2.5M | -$5.4M | -$52.4M | -$80.2M | -$82.4M | -$117.0M | -$32.8M | -$26.6M | |
| Investing Cash Flow | -$2.2M | $2.1M | $0.00 | -$18.0K | $360.0K | -$22.2M | -$2.7M | -$414.0K | -$103.0K | -$581.0K | -$633.0K | |
| Financing Cash Flow | -$284.0K | $0.00 | $14.1M | $5.8M | $75.4M | $192.3M | $47.8M | $2.6M | $124.5M | -$239.0K | $1.3M | |
| Issuance of Stock | $0.00 | $0.00 | $14.1M | $5.9M | $75.4M | $189.8M | $47.8M | $2.6M | $124.5M | -$239.0K | $1.3M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | -$60.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.8M | $2.1M | $4.6M | $16.3M | $0.00 | $7.9M | |
| Net Change in Cash | -$14.7M | -$6.1M | $9.3M | $3.3M | $70.4M | $139.9M | -$32.4M | -$79.9M | $7.4M | -$33.1M | -$25.2M |
Dilution Tracker
Shares outstanding grew 85.0% over 5 years — significant dilution
Shares Outstanding
48M
5-Year Share Growth
+85.0%
Stock Issuance (TTM)
$1.3M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 6.52 | 6.54 | 10.68 | 17.41 | 26.11 | 39.41 | 40.20 | 41.93 | 4660.40 | 48.30 | 48.46 | |
| Change vs Prior % | — | 0.3% | 63.4% | 63.0% | 49.9% | 50.9% | 2.0% | 4.3% | 11014.2% | -99.0% | 0.3% | |
| Stock Issuance | $0.00 | $0.00 | $14.1M | $5.9M | $75.4M | $189.8M | $47.8M | $2.6M | $124.5M | -$239.0K | $1.3M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | -$60.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.8M | $2.1M | $4.6M | $16.3M | $0.00 | $7.9M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | -79.7% | -122.8% | -33.4% | -21.0% | -6.9% | -12.8% | -33.5% | -70.7% | -16.7% | -122.3% | -63.9% | |
| ROA % | -76.9% | -110.0% | -32.6% | -19.7% | -6.7% | -12.1% | -32.5% | -64.1% | -15.5% | -76.9% | -42.2% | |
| ROIC % | -80.3% | -123.2% | -33.9% | -43.7% | -11.9% | -12.9% | -35.1% | -77.1% | -97.0% | -128.0% | -58.7% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | -28.9% | -17.2% | -1.5% | 15.9% | 62.1% | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Income | -5.3% | 20.1% | 44.2% | -45.4% | -13.9% | -198.0% | -143.5% | -32.4% | -33.5% | 32.6% | |
| Net Income | -5.0% | 19.8% | 45.0% | 29.4% | -36.8% | -411.3% | -135.4% | -27.5% | 75.0% | -273.7% | |
| EPS (Diluted) | -6.5% | 21.2% | 66.5% | 55.7% | 11.1% | -241.7% | -131.7% | -22.1% | 37.1% | -28.8% | |
| Operating Cash Flow | -35.1% | 32.7% | 42.1% | 47.3% | -114.1% | -461.1% | -156.7% | -5.8% | -42.6% | 72.4% | |
| Free Cash Flow | -33.1% | 33.1% | 42.1% | 46.9% | -112.6% | -873.8% | -53.1% | -2.8% | -42.0% | 71.9% | |
| R&D Expense | 0.8% | -17.0% | -61.0% | 112.1% | 15.8% | 240.3% | 174.2% | 31.4% | -22.1% | -61.8% | |
| SG&A Expense | 13.2% | -25.5% | -15.0% | -8.0% | 11.5% | 116.7% | 48.8% | 37.9% | 334.3% | -5.5% | |
| Total Assets | -39.5% | -43.9% | 85.9% | 16.6% | 301.5% | 182.9% | -12.0% | -35.4% | 3.9% | -24.9% | |
| Book Value / Share | -36.4% | -48.1% | 23.8% | -30.9% | 178.3% | 82.4% | -12.2% | -42.1% | -4.1% | -51.0% | |
| Debt | 0.0% | 0.0% | 0.0% | 0.0% | 225.6% | -19.5% | -41.1% | -100.0% | 0.0% | 0.0% | |
| Diluted Shares | -0.3% | 0.3% | 63.4% | 63.0% | 49.9% | 50.9% | 2.0% | 4.3% | 11014.2% | -99.0% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B0.38
10Y Low / Med / High0.32 / 0.72 / 1.62
EV/EBITDA0.80
10Y Low / Med / High0.22 / 1.48 / 4.79
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$1.85
Tangible Book / Share
$1.20
Net Current Assets / Share
$0.79
Graham Net-Net
$0.10
Cash / Share
$0.97
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -0.89 | -1.13 | -3.36 | -7.59 | -8.54 | -2.50 | -1.08 | -0.88 | -3.87 | -1.09 | -0.52 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | 0.72 | 1.38 | 1.12 | 1.62 | 0.58 | 0.32 | 0.36 | 0.63 | 0.65 | 1.33 | 0.38 | |
| EV/EBITDA | 0.22 | -0.25 | -0.32 | -1.32 | 3.61 | 4.79 | 1.48 | 0.33 | 0.24 | -0.04 | 0.80 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-7.65
Distress
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 |
| Net Income | -$43.2M | -$57.5M | -$57.0M |
| EPS | $-0.90 | $-1.19 | $-1.18 |
| # Analysts (EPS) | 2 | 1 | 1 |