Cassava Sciences Stock Price, News & Analysis

Cassava Sciences, focused on Alzheimer’s disease, announced that Remi Barbier, President & CEO, will present at the 2023 H.C. Wainwright BioConnect Investor Conference in New York on May 2nd at 3 PM Eastern time. This event provides a platform for the company to engage with institutional investors through one-on-one meetings. Investors can access the live webcast here and the archived replay here. Cassava Sciences aims to innovate treatments for neurodegenerative diseases by stabilizing key brain proteins, although none of their products have been approved by regulatory authorities.

Cassava Sciences (SAVA) announced its financial results for the year ending December 31, 2022, highlighting a cash balance of $201 million, down from $233.4 million in 2021. The company is focused on Alzheimer’s disease, with over 1,000 patients enrolled in Phase 3 studies of Simufilam. By year-end 2023, Cassava aims to enroll 1,750 patients. In Q2 2023, patient dosing for the Cognition Maintenance Study will be completed, with results expected in Q3 2023. The company reported a significant increase in R&D expenses to $68 million due to clinical study costs, while G&A expenses rose to $12 million.

On February 8, 2023, Cassava Sciences announced significant progress in its Phase 3 studies of simufilam, an oral drug for Alzheimer’s disease. A total of 953 patients are now enrolled across two studies, surpassing the halfway mark towards a combined target of approximately 1,750 patients. The company aims to complete enrollment by the end of 2023. Both studies have received FDA's Special Protocol Assessment and focus on evaluating the drug's safety and efficacy using established cognitive and functional scales. The CEO expressed optimism about meeting enrollment targets based on current trends.

Cassava Sciences (SAVA) announced positive top-line results from a Phase 2 study of simufilam, an oral treatment for Alzheimer’s disease. Over 200 patients with mild-to-moderate Alzheimer’s were treated for a year. Key findings include:

• 47% of participants improved on the ADAS-Cog scale, with an average improvement of 4.7 points.
• 23% showed minimal decline (less than 5 points).
• Simufilam was well tolerated, with no serious adverse events reported.

Patients in the mild group fared better with improvements in cognitive scores, while moderate patients experienced worsening. The company is preparing for Phase 3 trials in 2023.

Cassava Sciences (SAVA) announces the death of long-time board member Dr. Nadav Friedmann due to cancer. Dr. Friedmann contributed to the company for over 20 years and was a key figure in drug development, with eight approvals and numerous publications. Following this loss, James W. Kupiec, previously Chief Clinical Development Officer, will assume the role of Chief Medical Officer. The Board of Directors is now fixed at six members, maintaining a majority of independent directors. The company remains focused on addressing neurodegenerative diseases.

Cassava Sciences, Inc. (Nasdaq: SAVA) announced the completion of drug administration in the open-label study of simufilam for Alzheimer’s disease. Designed to assess long-term safety and cognitive changes over 12 months, around 200 patients participated. Independent biostatisticians will analyze the data, with results expected by year-end 2022. The company is also conducting two Phase 3 studies involving over 1,700 patients to evaluate simufilam's efficacy. The CEO expressed optimism about the study's progress and the need for innovation in Alzheimer's treatment.

Cassava Sciences, a clinical-stage biotechnology firm, has completed a registered direct offering of 1,666,667 shares of common stock at $30 per share, raising approximately $50 million in gross proceeds. The net proceeds, estimated at $47.3 million after expenses, will primarily fund working capital and support the development of simufilam, its lead drug candidate for Alzheimer’s disease. H.C. Wainwright & Co. was the exclusive placement agent for this offering, which was facilitated through an effective SEC registration statement.

Cassava Sciences (Nasdaq: SAVA), a biotechnology company focused on Alzheimer’s disease, has finalized an agreement to sell 1,666,667 shares at $30 each, generating approximately $50 million in gross proceeds. This registered direct offering is anticipated to close on November 22, 2022, subject to standard conditions. Proceeds will be allocated for working capital and advancing the development of the company's lead drug candidate, simufilam. H.C. Wainwright & Co. is the exclusive placement agent for this transaction.

Cassava Sciences (Nasdaq: SAVA) reported Q3 2022 financial results and updated on its Phase 3 program for simufilam in Alzheimer’s disease. The company has enrolled over 650 patients in its clinical trials, a significant increase from 150 six months prior. For Q3 2022, net loss was $20.3 million ($0.51 per share), up from a $9.6 million loss in Q3 2021. Cash and cash equivalents stood at $174.7 million with no debt. R&D expenses surged to $18.5 million due to increased clinical activities. The company expects full-year cash use to be around $80-$90 million.