Cassava Sciences's Net Cash Use In Operations For Second Half 2024 Is Expected To Be $80M-$90M, Which Includes An Estimated $40M Loss Contingency Related To Advanced Discussions To Resolve The Sec's Investigation. The Company Estimates Cash At Year-end 2024 Of $117M-$127M
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Cassava Sciences expects net cash use in operations for the second half of 2024 to be $80M-$90M, including a $40M loss contingency related to SEC investigation discussions. The company estimates year-end 2024 cash at $117M-$127M.
August 08, 2024 | 12:05 pm
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Cassava Sciences projects net cash use in operations for H2 2024 to be $80M-$90M, including a $40M loss contingency related to SEC investigation discussions. Year-end 2024 cash is estimated at $117M-$127M.
The significant cash use projection and the $40M loss contingency related to the SEC investigation are likely to negatively impact investor sentiment in the short term. The estimated year-end cash position provides some reassurance but may not offset concerns.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100