===Filana Therapeutics (FLNA)

Filana Therapeutics was founded in 1998 by Remi Barbier as Pain Therapeutics, Inc., changing its name in 2019 to Cassava Sciences. 

        

The company initially worked on three drugs: the pain drugs Oxytrex and Remoxy, and PTI-901, which aimed to treat irritable bowel syndrome. 

The company had no drug approved as of 2021, and no product revenues between 2013 and 2021; with 25 employees, the company's stock was the sixth-best performing in 2021 before falling after concerns over simufilam research.

Alzheimer's Drug Failure: The biotech discontinued all trials of simufilam for Alzheimer's disease after the drug missed all primary and secondary endpoints in late-stage Phase III studies.( late 2024).

Scrutiny and Investigations: The drug and its foundational data were subject to intense scrutiny. The SEC sued the company for allegedly publishing misleading data , and a federal grand jury indicted a former scientific advisor to the company for allegedly submitting false data regarding the drug's mechanism .

Corporate Settlement & Leadership Changes: Following the data controversy, several top executives—including former CEO Remi Barbier—resigned. Under new CEO Richard Barry, Cassava paid a $40 million fine to the SEC to settle misleading claims , and the DOJ subsequently closed its probe 

The Pivot to Filana Therapeutics: Shedding its troubled past, the company officially changed its name to Filana Therapeutics in March 2026. The biotech now trades under the ticker symbol "FLNA" and has shifted its developmental focus toward central nervous system (CNS) disorders, specifically exploring simufilam as a potential treatment for Tuberous Sclerosis Complex (TSC)-related epilepsy.