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. (SAVA) is a clinical-stage biotechnology company pioneering Alzheimer's disease research through therapeutic candidate simufilam and diagnostic tool SavaDx. This page aggregates official press releases, regulatory updates, and material event announcements directly from the company and verified sources.
Investors and researchers will find timely updates on Phase 3 clinical trial progress, FDA communications, intellectual property developments, and peer-reviewed study publications. Our curated feed ensures access to SAVA's critical milestones in drug development and diagnostic innovation without promotional commentary.
Key content categories include clinical trial results, partnership announcements with research institutions, financial disclosures related to R&D funding, and scientific presentations at major medical conferences. All materials are organized chronologically to track the company's evolving research narrative.
Bookmark this page for streamlined monitoring of Cassava Sciences' advancements in Alzheimer's therapeutics. For comprehensive analysis, cross-reference updates with SEC filings and scientific publications linked in source materials.
Cassava Sciences (NASDAQ: SAVA) reported Q2 2024 financial results, showing $207.3 million in cash and cash equivalents as of June 30, 2024. The company recorded a net income of $6.2 million, compared to a net loss of $26.4 million in Q2 2023. Cassava is in advanced discussions to resolve an SEC investigation, with a $40 million estimated loss contingency recorded in Q2. The company's Phase 3 clinical program for Alzheimer's treatment is progressing, with both RETHINK-ALZ and REFOCUS-ALZ studies fully enrolled. Top-line data readout for the 52-week study is expected by end of 2024, and for the 76-week study by mid-2025. Cash use in the second half of 2024 is projected to be $80-90 million, including the SEC-related contingency.
Cassava Sciences, Inc. (Nasdaq: SAVA) has announced the passing of long-time board member Sanford "Sandy" Robertson. Robertson had served on the company's Board of Directors since its inception as a public company in 1998. The press release highlights Robertson's significant contributions to Cassava Sciences and his impact on the business world, noting his role in helping build hundreds of companies and supporting entrepreneurs. The announcement emphasizes Robertson's commitment to Cassava's mission, his business acumen, and his personal qualities of intelligence and kindness. While the news does not directly impact the company's operations or financials, it marks the loss of a key figure in Cassava Sciences' leadership history.
Cassava Sciences (Nasdaq: SAVA), a clinical-stage biotechnology company focusing on Alzheimer's disease, has announced a conference call scheduled for Thursday, August 8th, 2024, at 8:30 a.m. Eastern Time. The call aims to discuss recent developments and provide a company update.
Interested parties can access the audio webcast through the company's website or via a direct link. A replay of the webcast will be available for 90 days following the event on Cassava Sciences' Company Presentations page.
This announcement suggests that Cassava Sciences may have significant updates to share regarding their Alzheimer's research or company progress, potentially impacting their stock performance.
Cassava Sciences (Nasdaq: SAVA) has announced an expansion of its open-label extension trials for simufilam in Alzheimer's disease. The trials will be extended by up to 36 months, allowing patients who participated in randomized trials to continue treatment if desired. This extension bridges the gap between trial completion and Phase 3 results reporting.
Key points:
- 89% of Phase 3 patients have chosen to continue open-label treatment
- Cognition and plasma biomarker monitoring will be added to gather long-term data
- Patients who completed the extension trial can now re-enroll
- Two ongoing Phase 3 studies: RETHINK-ALZ (804 patients) and REFOCUS-ALZ (1,125 patients)
- Top-line results expected by end of 2024 for RETHINK-ALZ and mid-2025 for REFOCUS-ALZ
Cassava Sciences (Nasdaq: SAVA) has announced significant changes in its executive leadership and corporate governance. Rick Barry has been appointed as Executive Chairman and principal executive officer, replacing Remi Barbier, who has resigned as President, CEO, and from the Board. The company has initiated a search for a new permanent CEO.
Additionally, Lindsay Burns, Ph.D., SVP of Neuroscience, is leaving the company but will provide consulting services for a year. Cassava is implementing several initiatives to enhance transparency and accountability, including:
- Separating Chairman and CEO roles
- Commitment to scientific rigor and honest transparency
- Ensuring integrity of clinical trial results
- Improving communication with stakeholders
The company remains focused on developing a potential Alzheimer's treatment while adhering to high ethical standards.
Cassava Sciences (Nasdaq: SAVA) announced that a federal grand jury indicted Dr. Hoau-Yan Wang, a former science advisor and tenured medical professor, for allegedly defrauding the U.S. National Institutes of Health (NIH). The indictment claims Dr. Wang engaged in illegal activities related to grant applications between 2017 and 2021, resulting in approximately $16 million in grants. These grants were connected to the early development phases of Cassava's drug candidate and diagnostic test. The company emphasized that Dr. Wang and his former university have no involvement in the Phase 3 clinical trials of simufilam, their lead drug candidate for Alzheimer's disease treatment.
Cassava Sciences reported strong financial results for Q1 2024, with $126.3 million in total gross proceeds from warrants. Over 1,900 Alzheimer's patients are enrolled in Phase 3 trials of Simufilam, with positive clinical updates. Net income was $25.0 million, a significant improvement from a net loss of $24.3 million in 2023. Cash use for operations is expected to be $35 to $45 million for the first half of 2024.
Cassava Sciences, a biotechnology company focused on Alzheimer's disease, announced over $125 million in gross proceeds from the cash-exercise of warrants, resulting in the issuance of approximately 5.7 million common shares at $22.00 per share. The net proceeds of over $123 million will be used for working capital and the development of their lead drug candidate, simufilam, for Alzheimer's treatment.
May 2, 2024, is the last day to trade SAVAW warrants on NASDAQ, with May 6, 2024, being the final day to cash-exercise the warrants. Holders can use the Notice of Guaranteed Delivery for warrant exercises. Failure to exercise warrants by May 6 will result in redemption at a nominal price. Detailed information is available on the company's website.
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