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Cassava Sciences (FLNA) Financials

Cassava Sciences logo
$1.31 +0.02 (+1.55%)
As of 05/22/2026 04:00 PM Eastern
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Annual Income Statements for Cassava Sciences

Annual Income Statements for Cassava Sciences

This table shows Cassava Sciences' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -14 -15 -12 -6.56 -4.63 -6.33 -32 -76 -97 -68 -91
Consolidated Net Income / (Loss)		 -14 -15 -12 -6.56 -4.63 -6.33 -32 -76 -97 -24 -91
Net Income / (Loss) Continuing Operations		 -14 -15 -12 -6.56 -4.63 -6.33 -32 -76 -97 -24 -91
Total Pre-Tax Income 		-14 -15 -12 -6.56 -4.63 -6.33 -32 -77 -98 -24 -91
Total Operating Income		 -14 -15 -12 -6.66 -4.96 -6.45 -33 -80 -106 -141 -95
Total Gross Profit		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 14 15 12 6.66 4.96 6.45 33 80 106 141 95
Selling, General & Admin Expense		 5.10 5.78 4.33 3.69 3.39 3.74 8.06 12 17 72 69
Research & Development Expense		 9.10 9.18 7.62 2.97 1.57 3.05 25 68 89 70 27
Total Other Income / (Expense), net		 0.06 0.11 0.04 0.11 0.33 0.11 0.43 2.78 7.83 117 4.62
Interest & Investment Income		 0.06 0.11 0.04 0.11 0.33 0.11 - 2.78 7.83 8.51 4.62
Other Income / (Expense), net		 - - - - - 0.00 0.43 0.00 0.00 109 0.00
Other Gains / (Losses), net		 - - - - - - - 1.00 0.91 - -0.20
Basic Earnings per Share		 ($0.31) ($2.28) ($1.82) ($0.61) ($0.27) ($0.24) ($0.82) ($1.90) ($2.32) ($0.53) ($1.88)
Weighted Average Basic Shares Outstanding		 45.36M 6.52M 6.54M 10.68M 17.41M 26.11M 39.41M 40.20M 41.93M 46.33M 48.30M
Diluted Earnings per Share		 ($0.31) ($2.28) ($1.82) ($0.61) ($0.27) ($0.24) - ($1.90) ($2.32) ($1.46) ($1.88)
Weighted Average Diluted Shares Outstanding		 45.36M 6.52M 6.54M 10.68M 17.41M 26.11M 39.41M -36.04M -55.29M 46.60M -42.68M
Weighted Average Basic & Diluted Shares Outstanding		 45.36M 6.52M 6.54M 10.68M 17.41M 26.11M 39.41M 40.20M 43.23M 48.31M 48.31M

Quarterly Income Statements for Cassava Sciences

This table shows Cassava Sciences' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -26 -26 -21 -19 6.16 -28 -28 -23 -44 -11 -13
Consolidated Net Income / (Loss)		 -26 -26 -21 25 6.16 -28 -28 -23 -44 -11 -13
Net Income / (Loss) Continuing Operations		 -26 -26 -21 23 6.16 -28 -36 -23 -44 -11 -13
Total Pre-Tax Income 		-27 -26 -21 23 6.06 -28 -36 -23 -44 -11 -13
Total Operating Income		 -29 -28 -23 -20 -61 -31 -29 -25 -45 -12 -14
Total Operating Expenses		 29 28 23 20 61 31 29 25 45 12 14
Selling, General & Admin Expense		 3.81 4.28 4.06 3.70 46 13 8.96 11 40 7.91 9.70
Research & Development Expense		 25 24 19 16 15 18 21 14 5.12 3.96 3.85
Total Other Income / (Expense), net		 2.20 2.01 1.58 43 67 2.62 -6.46 1.27 1.21 1.17 0.97
Interest & Investment Income		 2.20 2.01 1.58 - 2.32 2.62 - 1.27 1.21 1.17 0.97
Other Gains / (Losses), net		 0.20 0.22 0.29 - 0.10 0.06 - -0.08 -0.05 -0.11 0.04
Basic Earnings per Share		 ($0.63) ($0.61) ($0.50) $0.58 $0.13 ($0.58) ($0.66) ($0.48) ($0.92) ($0.22) ($0.26)
Weighted Average Basic Shares Outstanding		 41.79M 42.00M 41.93M 43.00M 46.20M 47.98M 46.33M 48.26M 48.31M 48.31M 48.30M
Diluted Earnings per Share		 ($0.63) ($0.61) ($0.50) ($0.43) $0.13 ($0.58) ($0.58) ($0.48) ($0.92) ($0.22) ($0.26)
Weighted Average Diluted Shares Outstanding		 15.42M 16.35M -55.29M 44.10M 52.36M 20.03M 46.60M 24.86M 4.08M 37.50M -42.68M
Weighted Average Basic & Diluted Shares Outstanding		 41.97M 42.17M 43.23M 47.98M 47.98M 48.11M 48.31M 48.31M 48.31M 48.31M 48.31M

Annual Cash Flow Statements for Cassava Sciences

This table details how cash moves in and out of Cassava Sciences' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -9.29 -15 -6.14 9.33 3.27 70 140 -32 -80 7.44 -33
Net Cash From Operating Activities		 -9.05 -12 -8.24 -4.77 -2.51 -5.38 -30 -78 -82 -117 -32
Net Cash From Continuing Operating Activities		 -9.05 -12 -8.24 -4.77 -2.51 -5.38 -30 -78 -82 -117 -32
Net Income / (Loss) Continuing Operations		 -14 -15 -12 -6.56 -4.63 -6.33 -32 -76 -97 -24 -91
Consolidated Net Income / (Loss)		 -14 -15 -12 -6.56 -4.63 -6.33 -32 -76 -97 -24 -91
Depreciation Expense		 0.05 0.06 0.07 0.07 0.06 0.02 0.31 0.80 1.08 0.95 0.90
Amortization Expense		 - - - - - 0.00 0.22 0.50 0.45 0.18 0.03
Non-Cash Adjustments To Reconcile Net Income		 3.45 4.33 2.97 2.39 1.30 0.64 3.87 1.54 5.33 -92 18
Changes in Operating Assets and Liabilities, net		 1.59 -1.77 0.64 -0.67 0.76 0.29 -2.22 -4.11 8.34 -1.23 40
Net Cash From Investing Activities		 -0.19 -2.17 2.10 0.00 -0.02 0.36 -22 -2.71 -0.41 -0.10 -0.58
Net Cash From Continuing Investing Activities		 -0.19 -2.17 2.10 0.00 -0.02 0.36 -22 -2.71 -0.41 -0.10 -0.58
Purchase of Property, Plant & Equipment		 -0.20 -0.08 - - -0.02 0.00 -22 -2.71 -0.41 -0.10 -0.58
Net Cash From Financing Activities		 -0.05 -0.28 0.00 14 5.81 75 192 48 2.56 124 -0.24
Net Cash From Continuing Financing Activities		 -0.05 -0.28 0.00 14 5.81 75 192 48 2.56 124 -0.24
Repurchase of Common Equity		 - - - - -0.06 - - - 0.00 0.00 -0.33
Other Financing Activities, net		 0.00 -0.21 - - 5.87 5.20 2.52 0.48 2.56 124 0.09

Quarterly Cash Flow Statements for Cassava Sciences

This table details how cash moves in and out of Cassava Sciences' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
Net Change in Cash & Equivalents		 -19 -26 -21 3.03 83 -18 -60 -11 -4.95 -6.30 -11
Net Cash From Operating Activities		 -20 -27 -22 -19 -18 -18 -61 -11 -4.95 -6.22 -9.75
Net Cash From Continuing Operating Activities		 -20 -27 -22 -19 -18 -18 -61 -11 -4.95 -6.22 -9.75
Net Income / (Loss) Continuing Operations		 -26 -26 -21 25 6.16 -28 -28 -23 -44 -11 -13
Consolidated Net Income / (Loss)		 -26 -26 -21 25 6.16 -28 -28 -23 -44 -11 -13
Depreciation Expense		 0.27 0.27 0.27 0.31 0.30 0.26 0.23 0.22 0.22 0.13 0.33
Non-Cash Adjustments To Reconcile Net Income		 2.60 1.23 -2.18 -42 -63 6.56 5.64 6.86 4.29 1.98 4.37
Changes in Operating Assets and Liabilities, net		 3.46 -2.50 0.43 -2.54 38 2.83 -40 4.99 35 2.48 -1.95
Net Cash From Investing Activities		 0.01 -0.02 -0.04 0.00 -0.03 -0.02 -0.06 0.00 - -0.08 -0.50
Net Cash From Continuing Investing Activities		 0.01 -0.02 -0.04 0.00 -0.03 -0.02 -0.06 0.00 - -0.08 -0.50
Purchase of Property, Plant & Equipment		 0.01 -0.02 -0.04 0.00 -0.03 -0.02 -0.06 0.00 - -0.08 -0.50
Net Cash From Financing Activities		 0.89 0.46 1.14 22 101 - 0.92 0.09 - - -0.33
Net Cash From Continuing Financing Activities		 0.89 0.46 1.14 22 101 - 0.92 0.09 - - -0.33

Annual Balance Sheets for Cassava Sciences

This table presents Cassava Sciences' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 32 19 11 20 23 94 267 235 152 158 118
Total Current Assets		 32 19 11 20 23 94 244 211 130 137 98
Cash & Equivalents		 31 17 10 20 23 94 233 201 121 129 96
Prepaid Expenses		 - - - - - - 11 10 8.50 7.96 2.21
Plant, Property, & Equipment, net		 0.22 0.23 0.16 0.09 0.05 0.01 21 23 22 21 21
Total Noncurrent Assets		 0.01 0.00 0.01 0.01 0.09 0.30 1.68 0.74 0.18 0.00 0.00
Total Liabilities & Shareholders' Equity		 32 19 11 20 23 94 267 235 152 158 118
Total Liabilities		 2.55 0.67 1.13 0.51 1.39 2.10 13 7.30 14 12 44
Total Current Liabilities		 2.55 0.67 1.13 0.51 1.39 1.87 13 7.06 14 12 44
Accounts Payable		 1.03 0.30 0.42 0.29 0.45 0.91 7.13 4.02 11 7.65 42
Accrued Expenses		 0.89 0.03 0.40 0.16 0.78 0.72 2.80 2.28 3.04 2.44 0.36
Current Employee Benefit Liabilities		 0.62 0.34 0.31 0.06 0.06 0.08 1.88 0.17 0.20 1.36 1.63
Other Current Liabilities		 - - - - 0.10 0.15 0.73 0.60 0.39 0.30 0.20
Total Noncurrent Liabilities		 0.00 0.00 0.00 0.00 0.00 0.24 0.33 0.23 0.00 0.08 0.12
Other Noncurrent Operating Liabilities		 - 0.00 0.00 0.00 0.00 0.24 0.33 0.23 0.00 0.08 0.12
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 29 19 9.70 20 22 92 254 228 137 146 74
Total Preferred & Common Equity		 29 19 9.70 20 22 92 254 228 137 146 74
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 29 19 9.70 20 22 92 254 228 137 146 74
Common Stock		 160 164 167 184 191 267 461 511 518 551 570
Retained Earnings		 -131 -145 -157 -164 -169 -175 -207 -284 -381 -405 -496

Quarterly Balance Sheets for Cassava Sciences

This table presents Cassava Sciences' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025
Total Assets		 197 173 156 244 224 141 135 130
Total Current Assets		 175 150 134 222 203 120 115 109
Cash & Equivalents		 168 142 124 207 149 117 112 106
Prepaid Expenses		 6.10 7.83 9.83 15 14 2.82 2.44 2.83
Plant, Property, & Equipment, net		 22 22 22 21 21 21 21 21
Total Noncurrent Assets		 0.39 0.27 0.12 0.08 0.07 0.00 0.00 0.00
Total Liabilities & Shareholders' Equity		 197 173 156 244 224 141 135 130
Total Liabilities		 18 17 77 55 57 13 47 48
Total Current Liabilities		 18 17 77 55 57 13 47 48
Accounts Payable		 10 9.49 9.60 53 52 8.19 43 46
Accrued Expenses		 7.04 7.34 1.80 1.60 2.54 4.08 3.79 1.37
Current Employee Benefit Liabilities		 0.22 0.19 0.23 0.22 1.95 0.86 0.56 0.36
Other Current Liabilities		 0.29 0.39 65 0.23 0.30 0.11 0.16 0.23
Total Noncurrent Liabilities		 0.00 0.00 0.00 0.00 0.08 0.08 0.08 0.12
Other Noncurrent Operating Liabilities		 0.00 0.00 - - 0.08 0.08 0.08 0.12
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 179 155 79 189 167 128 88 82
Total Preferred & Common Equity		 179 155 79 189 167 128 88 82
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 179 155 79 189 167 128 88 82
Common Stock		 514 515 434 539 544 556 561 565
Retained Earnings		 -334 -360 -356 -350 -378 -429 -473 -484

Annual Metrics And Ratios for Cassava Sciences

This table displays calculated financial ratios and metrics derived from Cassava Sciences' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 45,756,117.00 46,141,935.00 6,595,509.00 17,219,300.00 17,219,300.00 25,578,673.00 40,016,792.00 40,068,890.00 42,174,062.00 - 48,307,896.00
DEI Adjusted Shares Outstanding		 6,536,588.00 6,591,705.00 6,595,509.00 17,219,300.00 17,219,300.00 25,578,673.00 40,016,792.00 40,068,890.00 42,174,062.00 - 48,307,896.00
DEI Earnings Per Adjusted Shares Outstanding		 -2.16 -2.25 -1.81 -0.38 -0.27 -0.25 -0.81 -1.90 -2.31 - -1.88
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 -9.94 -10 -8.36 -4.66 -3.47 -4.51 -23 -56 -74 -99 -67
Return On Investment Capital (ROIC_SIMPLE)		 -33.85% - - - - - - -24.62% -53.95% -67.95% -89.75%
Earnings before Interest and Taxes (EBIT)		 -14 -15 -12 -6.66 -4.96 -6.45 -32 -80 -106 -33 -95
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -14 -15 -12 -6.59 -4.90 -6.42 -32 -79 -104 -32 -94
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -8.54 -12 -7.66 -5.26 -2.67 -4.19 -45 -62 -64 -100 -29
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -1.93 -0.08 -0.78 -0.18 -0.98 -1.31 20 27 16 17 -21
Increase / (Decrease) in Invested Capital		 -1.40 1.86 -0.70 0.60 -0.80 -0.32 22 6.05 -10 0.80 -38
Book Value per Share		 $0.64 $0.40 $1.47 $1.14 $1.28 $3.60 $6.35 $5.68 $3.26 $3.03 $1.54
Tangible Book Value per Share		 $0.64 $0.40 $1.47 $1.14 $1.28 $3.60 $6.32 $5.66 $3.26 $3.03 $1.54
Total Capital		 29 19 9.70 20 22 92 254 228 137 146 74
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 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
Net Debt		 -31 -19 -10 -20 -23 -94 -233 -201 -121 -129 -96
Capital Expenditures (CapEx)		 0.20 0.08 0.00 0.00 0.02 -0.36 22 2.71 0.41 0.10 0.58
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -2.16 -0.31 -0.95 -0.28 -1.12 -1.38 -1.49 3.15 -5.70 -3.79 -42
Debt-free Net Working Capital (DFNWC)		 29 18 9.53 20 22 92 232 204 115 125 54
Net Working Capital (NWC)		 29 18 9.53 20 22 92 232 204 115 125 54
Net Nonoperating Expense (NNE)		 4.20 4.38 3.55 1.89 1.16 1.82 9.38 20 23 -75 24
Net Nonoperating Obligations (NNO)		 -31 -19 -10 -20 -23 -94 -233 -201 -121 -129 -96
Total Depreciation and Amortization (D&A)		 0.05 0.06 0.07 0.07 0.06 0.02 0.53 1.30 1.53 1.13 0.94
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($2.17) ($2.28) ($1.82) ($0.61) ($0.27) ($0.24) ($0.82) ($1.90) ($2.32) ($0.53) ($1.88)
Adjusted Weighted Average Basic Shares Outstanding		 6.54M 6.52M 6.60M 17.22M 24.73M 39.90M 40.02M 41.74M 41.93M 46.33M 48.30M
Adjusted Diluted Earnings per Share		 ($2.17) ($2.28) ($1.82) ($0.61) ($0.27) ($0.24) ($0.82) ($1.90) $0.00 ($1.46) ($1.88)
Adjusted Weighted Average Diluted Shares Outstanding		 6.54M 6.52M 6.60M 17.22M 24.73M 39.90M 40.02M 41.74M 43.23M 46.60M -42.68M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($2.28) ($1.82) ($0.61) ($0.27) ($0.24) ($0.82) ($1.90) $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 6.54M 6.52M 6.54M 10.68M 17.41M 26.11M 39.41M 40.20M 43.23M 48.31M 48.31M
Normalized Net Operating Profit after Tax (NOPAT)		 -9.94 -10 -8.36 -4.66 -3.47 -4.75 -23 -56 -74 -99 -67
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for Cassava Sciences

This table displays calculated financial ratios and metrics derived from Cassava Sciences' official financial filings.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
DEI Shares Outstanding		 41,749,435.00 41,969,994.00 42,174,062.00 42,174,062.00 47,976,166.00 47,976,166.00 - 48,307,896.00 48,307,896.00 48,307,896.00 48,307,896.00
DEI Adjusted Shares Outstanding		 41,749,435.00 41,969,994.00 42,174,062.00 42,174,062.00 47,976,166.00 47,976,166.00 - 48,307,896.00 48,307,896.00 48,307,896.00 48,307,896.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.63 -0.61 -0.50 -0.44 0.13 -0.58 - -0.48 -0.92 -0.22 -0.26
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 -20 -20 -16 -20 -61 -21 -21 -17 -32 -8.30 -9.49
Return On Investment Capital (ROIC_SIMPLE)		 - - -11.60% -25.36% -32.49% -12.86% -14.17% -13.49% -36.12% -10.18% -12.75%
Earnings before Interest and Taxes (EBIT)		 -29 -28 -23 23 3.74 -31 -29 -25 -45 -12 -14
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -28 -27 -22 24 4.04 -30 -29 -24 -45 -12 -13
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -9.92 -8.22 -5.76 42 -32 14 -21 -73 -26 -6.13 29
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 11 13 16 -46 -18 -22 17 10 -24 -25 -21
Increase / (Decrease) in Invested Capital		 -10 -11 -10 -62 -29 -35 0.80 56 -6.09 -2.17 -38
Book Value per Share		 $4.30 $3.70 $3.26 $1.83 $3.94 $3.47 $3.03 $2.64 $1.82 $1.69 $1.54
Tangible Book Value per Share		 $4.29 $3.69 $3.26 $1.83 $3.94 $3.47 $3.03 $2.64 $1.82 $1.69 $1.54
Total Capital		 179 155 137 79 189 167 146 128 88 82 74
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 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
Net Debt		 -168 -142 -121 -124 -207 -189 -129 -117 -112 -106 -96
Capital Expenditures (CapEx)		 -0.01 0.02 0.04 0.00 0.03 0.02 0.06 0.00 0.00 0.08 0.50
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -12 -9.58 -5.70 -67 -40 -43 -3.79 -10 -45 -45 -42
Debt-free Net Working Capital (DFNWC)		 157 133 115 57 168 146 125 107 67 61 54
Net Working Capital (NWC)		 157 133 115 57 168 146 125 107 67 61 54
Net Nonoperating Expense (NNE)		 6.23 6.14 4.97 -45 -68 6.51 6.96 6.19 12 2.51 3.05
Net Nonoperating Obligations (NNO)		 -168 -142 -121 -124 -207 -189 -129 -117 -112 -106 -96
Total Depreciation and Amortization (D&A)		 0.39 0.39 0.36 0.31 0.30 0.26 0.26 0.22 0.22 0.13 0.33
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.63) ($0.61) ($0.50) $0.58 $0.13 ($0.58) ($0.66) ($0.48) ($0.92) ($0.22) ($0.26)
Adjusted Weighted Average Basic Shares Outstanding		 41.79M 42.00M 41.93M 43.00M 46.20M 47.98M 46.33M 48.26M 48.31M 48.31M 48.30M
Adjusted Diluted Earnings per Share		 ($0.63) $0.00 ($0.50) ($0.43) $0.13 ($0.58) ($0.58) ($0.48) ($0.92) ($0.22) ($0.26)
Adjusted Weighted Average Diluted Shares Outstanding		 41.79M 42.17M -55.29M 44.10M 52.36M 20.03M 46.60M 24.86M 4.08M 37.50M -42.68M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 41.97M 42.17M 43.23M 47.98M 47.98M 48.11M 48.31M 48.31M 48.31M 48.31M 48.31M
Normalized Net Operating Profit after Tax (NOPAT)		 -20 -20 -16 -14 -43 -21 -21 -17 -32 -8.30 -9.49
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Financials Breakdown Chart

Key Financial Trends

Cassava Sciences (NASDAQ: SAVA) has presented a consistent picture across the last four quarters: no revenue yet, ongoing cash burn from operations, and material net losses. The company ends 2025 with a sizable cash cushion and a modest balance sheet footprint, but liquidity will depend on ongoing financing or cost controls if R&D continues without near-term revenue catalysts.

  • Cash balance remains robust in 2025: cash and cash equivalents ranged roughly from $106.1M (Q3 2025) to $117.3M (Q1 2025), providing runway for ongoing research and operations.
  • Interest & investment income is consistently positive, contributing about $1.0–$1.3M per quarter (e.g., Q4 2025: $0.974M; Q3 2025: $1.167M; Q2 2025: $1.214M; Q1 2025: $1.265M).
  • Occasional financing activity provides small cash inflows, helping to support liquidity (Q1 2025 Net Cash From Financing Activities around $0.09M; Q4 2024 around $0.918M).
  • Solid asset base with a meaningful equity cushion: total assets generally in the $130–141M range in 2025 quarters, and total equity remains a material portion of capitalization despite ongoing deficits (e.g., Q3 2025: Total Liabilities ~$48M and Total Equity ~$81.6M).
  • No revenue is reported in Q1–Q4 2025, consistent with a pure R&D-focused model rather than a product-sales driven business.
  • Operating cash flow is negative in every quarter, reflecting ongoing cash burn without current product revenue (e.g., Q1 2025 Net Cash From Continuing Operating Activities: -$11.34M; Q2 2025: -$4.95M; Q3 2025: -$6.22M; Q4 2025: -$9.75M).
  • Investing activity generally shows minimal capital expenditure, with small quarterly outflows (e.g., Q3 2025 Purchase of PPE: -$80k; Q2 2025: -$29k; Q4 2025: -$501k).
  • No clear debt burden is evident in the shown periods; liabilities exist but are moderate relative to the asset base, suggesting manageable liquidity risk given the cash balance.
  • Persistent net losses with no revenue: 2025 quarters show substantial losses, including Q4 2025 net income attributable to common shareholders of -$12.539M and Q2 2025 of -$44.224M.
  • Ongoing cash burn from operations: operating cash outflows exceed cash inflows in each quarter, highlighting liquidity sensitivity if external funding slows (Q1 2025 -$11.336M CNOC; Q2 2025 -$4.947M; Q3 2025 -$6.221M; Q4 2025 -$9.748M).
05/24/26 11:48 PM ETAI Generated. May Contain Errors.

Cassava Sciences Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Cassava Sciences' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Cassava Sciences' net income appears to be on an upward trend, with a most recent value of -$90.97 million in 2025, rising from -$14.15 million in 2015. The previous period was -$24.34 million in 2024. See where experts think Cassava Sciences is headed by visiting Cassava Sciences' forecast page.

Cassava Sciences' total operating income in 2025 was -$95.39 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $95.39 million

Over the last 10 years, Cassava Sciences' total revenue changed from $0.00 in 2015 to $0.00 in 2025, a change of 0.0%.

Cassava Sciences' total liabilities were at $43.95 million at the end of 2025, a 271.6% increase from 2024, and a 1,622.9% increase since 2015.

In the past 10 years, Cassava Sciences' cash and equivalents has ranged from $10.48 million in 2017 to $233.44 million in 2021, and is currently $95.50 million as of their latest financial filing in 2025.

Over the last 10 years, Cassava Sciences' book value per share changed from 0.64 in 2015 to 1.54 in 2025, a change of 140.0%.


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Financial statements for NASDAQ:FLNA last updated on 4/24/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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