Cassava Sciences, Inc. - SAVA STOCK NEWS

Cassava Sciences, Inc. (Nasdaq: SAVA) announces that the World Health Organization has advised the United States Adopted Names Council to change the name of its lead drug candidate for Alzheimer’s disease to simufilam. This decision was made to avoid trademark conflicts with another drug available in the Far East. The USAN has accepted this name change, ensuring that all future references to the Alzheimer’s drug will be under the name simufilam. This indicates progress in the drug's development and branding for market readiness.

Cassava Sciences, Inc. (Nasdaq: SAVA) has announced a public offering of 9,375,000 shares of its common stock at a price of $8.00 per share, aimed at raising approximately $75 million for its Phase 3 clinical program of sumifilam for Alzheimer’s disease. An additional option allows underwriters to purchase up to 1,406,250 shares. The offering is expected to close on November 17, 2020, pending customary conditions. Proceeds will support research and general corporate purposes as part of the company’s strategic plan in neurodegenerative conditions.

Cassava Sciences (Nasdaq: SAVA) announced a proposed underwritten public offering of its common stock, subject to market conditions. The offering will include a 30-day option for underwriters to purchase an additional 15% of the shares. Proceeds are intended to fund a Phase 3 clinical program for sumifilam, their lead candidate for Alzheimer's disease, as well as research and general corporate purposes. Cantor Fitzgerald & Co. is managing the offering. The securities are registered under a previously declared effective shelf registration statement.

Cassava Sciences, Inc. (SAVA) reported a net loss of $1.4 million for Q3 2020, or $0.06 per share, an increase from a loss of $0.7 million ($0.04 per share) in Q3 2019. Total cash and cash equivalents stand at $24.1 million, up from $23.1 million at the end of 2019, with no debt. Net cash used in operations for the first nine months of 2020 hit $4.2 million, and the company expects to end the year with approximately $5.0 million in cash usage. R&D expenses rose to $0.4 million due to decreased NIH grant reimbursements.

Cassava Sciences (Nasdaq: SAVA) announced promising results from a Phase 2b study of sumifilam in Alzheimer’s patients. The drug demonstrated a statistically significant 33% reduction in HMGB1 levels (p<0.001) and improved blood-brain barrier integrity (p<0.05) after 28 days. These findings suggest that sumifilam may effectively address neuroinflammation and neurodegeneration associated with Alzheimer’s. The final results will be presented on November 7 at the CTAD 2020 conference, underscoring the potential for further clinical development, including a planned Phase 3 study.

Cassava Sciences (SAVA) announced that results from its Phase 2b study of sumifilam, targeting Alzheimer’s disease, will be presented at the CTAD conference on November 7, 2020. The study, funded by the NIH, showed statistically significant improvements in various CSF biomarkers and cognitive tests in Alzheimer’s patients treated with sumifilam compared to placebo. The treatment demonstrated a 98% responder rate and was safe and well-tolerated. Ongoing studies include a long-term open-label trial targeting 100 patients, with over 50% enrollment achieved.

Cassava Sciences (SAVA) announced promising results from its Phase 2b study of sumifilam for Alzheimer's disease. The drug significantly improved various biomarkers compared to placebo, achieving a response rate of 98% (p<0.05). Patients on sumifilam experienced cognitive improvements, with effect sizes ranging from 17% to 46%. The treatment demonstrated a decrease in neuroinflammation markers and was well-tolerated with no patient discontinuations. The study, funded by NIH, positions sumifilam as a potential transformative therapy for Alzheimer's, with ongoing trials planned.

Cassava Sciences, Inc. (Nasdaq: SAVA), a biotech company focused on Alzheimer’s disease, announced a conference call scheduled for September 14, 2020, at 8:30 a.m. Eastern Time. Details include a dial-in number for domestic and international callers and an audio webcast available on their website. The replay will be accessible for 90 days. Cassava aims to develop innovations for chronic neurodegenerative conditions, leveraging advanced technology and insights into neurobiology, with full rights to its Alzheimer’s research programs.

Cassava Sciences, a clinical-stage biotech company focused on Alzheimer’s disease, will present a corporate overview at the H.C. Wainwright’s 22nd Annual Global Investment Conference on September 15, 2020, at 2:30 p.m. ET. The presentation will be available via a live webcast, and a replay will be accessible for 90 days afterwards on their website. Alzheimer’s affects approximately 5.8 million people in the U.S., and the number is expected to rise significantly, highlighting the increasing burden of this condition.