Cassava Sciences Inc
NASDAQ:SAVA
Cassava Sciences Inc
Cassava Sciences, Inc. engages in the development of novel drugs and diagnostics. The company is headquartered in Austin, Texas and currently employs 24 full-time employees. The company went IPO on 2000-07-14. The firm is focused on developing the drug for the treatment of neurodegenerative diseases, such as Alzheimer's disease. The Company’s products include Simufilam and SavaDx. Its lead therapeutic product candidate, Simufilam, is a proprietary small molecule (oral) drug. Simufilam targets an altered form of a protein called filamin A (FLNA) in the Alzheimer's brain. The SavaDx, is an early-stage program focused on detecting the presence of Alzheimer's disease from a small sample of blood, possibly years before the overt appearance of clinical symptoms. The company is also developing SavaDx is a quantitative blood-based investigational biomarker/diagnostic to detect and monitor Alzheimer's disease. The Company’s scientific approach for the treatment of Alzheimer's disease seeks to simultaneously progress both neurodegeneration and neuroinflammation.
Cassava Sciences, Inc. engages in the development of novel drugs and diagnostics. The company is headquartered in Austin, Texas and currently employs 24 full-time employees. The company went IPO on 2000-07-14. The firm is focused on developing the drug for the treatment of neurodegenerative diseases, such as Alzheimer's disease. The Company’s products include Simufilam and SavaDx. Its lead therapeutic product candidate, Simufilam, is a proprietary small molecule (oral) drug. Simufilam targets an altered form of a protein called filamin A (FLNA) in the Alzheimer's brain. The SavaDx, is an early-stage program focused on detecting the presence of Alzheimer's disease from a small sample of blood, possibly years before the overt appearance of clinical symptoms. The company is also developing SavaDx is a quantitative blood-based investigational biomarker/diagnostic to detect and monitor Alzheimer's disease. The Company’s scientific approach for the treatment of Alzheimer's disease seeks to simultaneously progress both neurodegeneration and neuroinflammation.
Phase III Update: Cassava has finished patient visits for its first Phase III Alzheimer's trial (RETHINK-ALZ) and will announce top line results before the end of 2024.
Biomarker Data: The upcoming results will include biomarker data (pTau 217, NFL, GFAP, and total tau) from about 100 patients, measured from baseline to last visit.
Financial Position: The company ended Q3 with $149 million in cash, enough to fund operations through both ongoing Phase III trials and into 2026.
SEC Settlement: $40 million in restricted cash is set aside for a settlement with the SEC, still pending court approval.
Guidance Maintained: Year-end cash is expected between $117 million and $127 million, unchanged from prior guidance.
Trial Success Criteria: Both ADAS-Cog12 and activities of daily living (ADL) must show positive results for the trial to be considered successful per FDA agreement.
Potential Commercial Plans: The company is preparing for possible commercialization and manufacturing scale-up, but will await trial data before making major strategic decisions.
