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) 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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