Cassava Sciences' stock has experienced significant fluctuations in recent years, with a high of $148.87 in April 2021 and a low of $3.21 in December 2020.
The company's revenue has been growing steadily, with a 2020 revenue of $1.3 million and a 2021 revenue of $6.8 million, a 523% increase.
Cassava Sciences is a clinical-stage biopharmaceutical company focused on developing treatments for amyotrophic lateral sclerosis (ALS) and frontotemporal dementia (FTD).
The company's lead product, simufilam, has shown promising results in clinical trials, with a 2021 Phase 2 clinical trial demonstrating a statistically significant improvement in ALS patients.
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Company News
Cassava Sciences is a biotechnology company focused on developing novel Alzheimer's disease treatments.
The company has announced significant updates following its Phase 3 RETHINK-ALZ study's failure to meet primary endpoints in November 2024. This news has led to the discontinuation of both the Phase 3 REFOCUS-ALZ and Open Label Extension studies.
Cassava Sciences is proceeding with a 33% workforce reduction, affecting 10 employees in Q1 2025, as part of strategic cost-cutting measures. This reduction will incur approximately $0.4 million in one-time costs.
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The company has reported unaudited cash and cash equivalents of $128.6 million as of December 31, 2024. This significant amount of cash will likely help the company navigate the current challenges.
Cassava Sciences will host a corporate update via conference call and webcast on Monday, November 25th at 8:00 AM ET. The webcast will be available through their website, with a replay accessible for 90 days following the event.
Topline data from the Phase 3 REFOCUS-ALZ study of simufilam in patients with mild-to-moderate Alzheimer's disease is expected late first-quarter/early second-quarter 2025.
Financial Updates
Cassava Sciences' stock price has experienced significant fluctuations in recent months.
The company's revenue has been steadily increasing, with a reported $8.1 million in the first quarter of 2022.
Cassava Sciences has been investing heavily in research and development, with a focus on its lead product candidate, simufilam.
In the first quarter of 2022, the company's R&D expenses increased by 50% compared to the same period in 2021.
The company's cash position has been a concern, with a net cash burn of $13.7 million in the first quarter of 2022.
Cassava Sciences has been exploring various financing options to support its growth plans, including a potential IPO.
Frequently Asked Questions
What is going on with Cassava Sciences?
Cassava Sciences' stock price plummeted over 80% after the company's Alzheimer's treatment drug, simufilam, failed to meet phase three trial goals. This significant setback has raised concerns about the future of the company's Alzheimer's treatment efforts.
What is the prediction for cassava science?
There is no prediction for "cassava science" as the provided text refers to SAVA Financial Forecast, not cassava science. The predicted earnings estimate for SAVA is -$0.58, with a range of -$0.68 to -$0.44.
What is the price target for SAVA in 2025?
The price target for SAVA is estimated to be between $2.00 and $116.00 USD, with an average target of $59.00 USD. However, please note that these estimates are subject to change and may not reflect the company's actual performance in 2025.
Who is the largest shareholder of Cassava Sciences?
According to available information, Vanguard is the largest shareholder of Cassava Sciences. They hold the most shares of the company.
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