Welcome to our dedicated page for Cassava Sciences news (Ticker: SAVA), a resource for investors and traders seeking the latest updates and insights on Cassava Sciences stock.
Cassava Sciences, Inc. (NASDAQ: SAVA) is a clinical-stage biotechnology company based in Austin, Texas that reports extensively on its efforts to develop simufilam, a proprietary, investigational oral small molecule for central nervous system (CNS) disorders. Recent news emphasizes a strategic shift toward tuberous sclerosis complex (TSC)-related epilepsy, following the discontinuation of its Alzheimer’s disease program after two Phase 3 trials did not meet their pre-specified endpoints.
News updates for SAVA commonly cover preclinical and clinical development milestones. Cassava has announced preclinical studies in mouse models of TSC-related epilepsy and focal cortical malformations, reporting that simufilam reduced seizure activity and alleviated neuronal abnormalities. The company also highlights presentations at scientific meetings, such as the TSC International Research Conference, where it shared data on seizure reduction and human safety findings from prior Alzheimer’s Phase 3 studies.
Regulatory and corporate developments are another key theme in Cassava’s news flow. Items include disclosures about the FDA placing the proposed proof-of-concept trial of simufilam in TSC-related epilepsy on full clinical hold pending additional data and protocol changes, as well as updates on the timing implications for clinical trial initiation. Investors also see announcements about leadership appointments in neuroscience and clinical development, board changes, participation in investor conferences, and financial results with commentary on cash resources and expense management.
Litigation and legal matters feature in Cassava’s news as well. The company has reported a binding term sheet to settle a consolidated securities class action for $31.25 million, subject to court approval, and has discussed related loss contingencies in its financial communications. For anyone tracking SAVA, this news page provides ongoing coverage of scientific publications, regulatory interactions, corporate governance changes, and financial and legal updates related to Cassava’s CNS drug development programs.
Cassava Sciences, focused on Alzheimer’s disease, reported a net loss of $1.1 million, or $0.05 per share, for Q2 2020, unchanged from the prior year's loss. Cash and cash equivalents stood at $25.3 million as of June 30, 2020. The company continues to expect a total net cash use of approximately $5.0 million for the year. Additionally, the Phase 2b study of PTI-125 is set to announce final results in September 2020, following an initial bioanalysis showing unexplained variability. The open-label study of PTI-125 has surpassed 50% enrollment. SavaDx demonstrated target engagement in preliminary studies.
Cassava Sciences (Nasdaq: SAVA) announced that its lead neuroscientist, Dr. Lindsay H. Burns, will present on SavaDx at the Biomarkers for Alzheimer’s Disease Summit on July 15, 2020. SavaDx aims to detect Alzheimer’s through a simple blood test, potentially years before symptoms appear, and is backed by NIH funding. Cassava's lead therapeutic candidate, PTI-125, aims to treat Alzheimer’s by restoring altered brain protein function. This follows a Phase 2b study completion in early 2020, with results expected by Q3 2020.
Cassava Sciences (Nasdaq:SAVA) announced its addition to the Russell 2000 and Russell 3000 Indexes, effective June 26, 2020. This decision is expected to enhance market visibility for the company, which is focused on Alzheimer’s disease. The company is preparing to release comprehensive results from its Phase 2b study of PTI-125 by Q3 2020. This study, which included 64 patients, received substantial funding from the National Institutes of Health. PTI-125 aims to address Alzheimer’s pathology, and ongoing trials show strong interest from patients and physicians.
Cassava Sciences, a clinical-stage biotechnology company, announced insights from its ongoing Phase 2b study of PTI-125 for Alzheimer’s disease. High variability in biomarker levels in the control arm suggests a need for reassessment of overall results. The company plans to re-analyze cerebrospinal fluid and lymphocyte samples to gather further evidence for the drug's efficacy and cognition effects. Results from these analyses are anticipated in the latter half of 2020 and will guide future drug development strategies.
Cassava Sciences, Inc. (Nasdaq: SAVA) released results from its Phase 2b study of PTI-125 for Alzheimer's disease, which did not meet its primary endpoint related to CSF tau protein levels. However, a secondary analysis indicated a significant reduction in CSF IL1-beta levels (p<0.035). Notably, high variability in CSF biomarker levels was observed, complicating the interpretation of results. While the drug was deemed safe and well-tolerated, the company plans further analysis to understand the study outcomes better.
Cassava Sciences (SAVA) announced financial results for Q1 2020, reporting a net loss of $1.2 million ($0.05 per share), an improvement from last year's $1.4 million loss. Cash reserves stand at $25.6 million with no debt, and cash use for the year is projected at $5 million. The company has received $2.9 million in NIH research grants for PTI-125, a drug candidate for Alzheimer's, with early data from a Phase 2b study expected soon. An open-label study has also begun, with 20% enrollment. Overall, operations remain stable amidst the pandemic.