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. (NASDAQ: SAVA) is a clinical-stage biotechnology company dedicated to the development of innovative solutions for the treatment and detection of Alzheimer's disease. The company's primary focus is on two groundbreaking product candidates: simufilam and SavaDx.
Simufilam is an oral therapeutic designed to treat Alzheimer's disease. It is currently undergoing two randomized, placebo-controlled Phase 3 clinical trials to assess its efficacy in patients with Alzheimer's dementia. This novel treatment aims to improve cognitive function and slow down the progression of the disease.
SavaDx, the company's investigational diagnostic product, represents a significant advancement in the early detection of Alzheimer's disease. This innovative diagnostic tool can potentially identify the presence of Alzheimer's years before symptoms become apparent, using a small sample of blood.
In addition to its clinical trials, Cassava Sciences recently announced a major financial achievement. The company secured over $125 million from the exercise of warrants, reflecting strong investor confidence. These funds will support the ongoing development and potential commercialization of their innovative products.
Cassava Sciences' mission is to address the urgent unmet medical needs of Alzheimer's patients and their families through rigorous scientific research and development. With its dedicated team and promising product pipeline, the company is well-positioned to make a significant impact on the landscape of Alzheimer's treatment and diagnosis.
For the latest updates on Cassava Sciences’ projects, partnerships, and financial performance, investors can refer to the company's filings with the Securities and Exchange Commission (SEC). For more detailed information, contact Eric Schoen, Chief Financial Officer, at (512) 501-2450 or ESchoen@CassavaSciences.com.
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.
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