Cassava Sciences, Inc. - SAVA STOCK NEWS

Cassava Sciences (SAVA) reported its Q1 2021 financial results, highlighting a robust cash position of $282.2 million as of March 31, 2021. The company is advancing the pivotal Phase 3 program for simufilam, aimed at treating Alzheimer’s disease, with an expected initiation in the 2nd half of 2021. An interim analysis of a 9-month open-label study will be presented at the Alzheimer’s Association International Conference in July 2021. Initial results indicate improved cognition scores for patients undergoing 6 months of treatment.

Cassava Sciences (SAVA) reported its financial results for the year ended December 31, 2020, highlighting a cash position of approximately $280 million as of February 2021. The company revealed that its lead drug candidate, simufilam, showed potential in improving cognition scores in Alzheimer’s patients after 6 months of treatment. The company plans to announce more data from a 12-month study mid-2021 and expects to initiate pivotal Phase 3 clinical trials later this year. Financially, the net loss for 2020 was $6.3 million, with a significant increase in cash from stock sales and NIH grants.

Cassava Sciences (Nasdaq: SAVA) has entered a drug supply agreement with Evonik Industries for simufilam, a treatment candidate for Alzheimer’s disease. The agreement facilitates the supply of large-scale, clinical-grade simufilam as Cassava progresses in its mission to develop solutions for chronic neurodegenerative diseases. The partnership highlights a commitment to enhancing the quality of life for Alzheimer's patients. Evonik, a leading contract development and manufacturing organization, aims to leverage its expertise to support Cassava's goals.

Cassava Sciences (Nasdaq: SAVA), a clinical-stage biotechnology company focused on Alzheimer's disease, is set to present at the H.C. Wainwright Global Life Sciences Conference on March 9-10, 2021. The management team will engage in virtual one-on-one meetings with analysts and investors. The presentation will be available on-demand from 7:00 AM ET on March 9 through the conference portal. Their lead drug candidate, Simufilam, aims to restore normal function of disrupted brain proteins associated with Alzheimer's.

For more details, visit www.CassavaSciences.com.

AUSTIN, Texas, Feb. 23, 2021 – Cassava Sciences (Nasdaq: SAVA) has been invited to present at the 10th Annual SVB Leerink Global Healthcare Conference. Remi Barbier, President & CEO, and Eric Schoen, CFO, are scheduled to present on February 25 at 2:20 PM Eastern time. Investors can access the live webcast on CassavaSciences.com, with replay available until May 26, 2021. The company is focusing on Alzheimer’s disease and its lead drug candidate, Simufilam, which aims to restore brain function and combat neurodegeneration.

Cassava Sciences (SAVA) has successfully completed an End-of-Phase 2 meeting with the FDA regarding simufilam, its Alzheimer’s disease candidate. The FDA agreed on key elements for a pivotal Phase 3 clinical program, set to start in the latter half of 2021. The Phase 3 studies will assess both disease-modifying effects and symptomatic improvement in approximately 1,600 Alzheimer’s patients. Key endpoints include ADAS-Cog and ADCS-ADL. Previous Phase 2 data showed promising results with no safety issues, setting a solid foundation for the upcoming trials.

Cassava Sciences (Nasdaq: SAVA) announced the closing of a direct offering of 4,081,633 shares of common stock at $49.00 per share, generating approximately $200 million in gross proceeds. After fees, the net proceeds are expected to be around $189.7 million, intended for working capital, general corporate purposes, and development of simufilam, its lead Alzheimer’s drug. The offering was conducted under an automatic shelf registration statement filed on February 10, 2021, with the SEC.

Cassava Sciences, Inc. (Nasdaq: SAVA) has announced a registered direct offering of 4,081,633 shares at $49.00 each, totaling approximately $200 million. The offering is set to close around February 12, 2021, pending customary conditions. Proceeds will be allocated for general corporate purposes and the development of simufilam, targeted for Alzheimer’s treatment. The offering is conducted under an automatic shelf registration statement filed with the SEC on February 10, 2021.

Cassava Sciences (Nasdaq: SAVA) announced progress in its Alzheimer’s disease programs, specifically the drug candidate simufilam. The company plans to expand an ongoing open-label clinical study, increasing enrollment to a total of 150 patients. They expect to initiate a Phase 3 program in the second half of 2021, following a successful meeting with the FDA. Key milestones include a second interim analysis and a Cognition Maintenance Study. Cassava anticipates using approximately $20-25 million in cash for operations in 2021, with about $93 million in cash available at year-end 2020.