Streetbeat News

SAVA

Cassava Sciences, Inc.

https://www.cassavasciences.com

Industry

Biotechnology

Cassava Sciences, Inc., a clinical stage biotechnology company, develops drugs for neurodegenerative diseases. Its lead therapeutic product candidate is simufilam, a small molecule drug, which is completed Phase 2b clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer's disease. The company was formerly known as Pain Therapeutics, Inc. and changed its name to Cassava Sciences, Inc. in March 2019. Cassava Sciences, Inc. was incorporated in 1998 and is based in Austin, Texas.

Open

26.46

Mkt cap

1.3B

Volume

2.8M

High

28.99

P/E Ratio

-19.50

52-wk high

42.20

Low

25.46

Div yield

N/A

52-wk low

8.79

Paychex, Inc. reported Q2 FY24 sales of $1.26 billion, missing estimates by $0.01 billion, but beat EPS estimates by $0.01. The stock fell 5.4%. Other stocks also declined: ZJYL after a Nasdaq compliance notice, BB following Q3 results, and others due to various reasons. WBD's CEOs discussed a potential merger.

Portfolio Pulse from Avi Kapoor

December 21, 2023 | 4:02 pm

Blue Bird Corporation (BLBD) reported Q4 earnings of 66 cents per share, surpassing expectations of 48 cents, with revenue of $302.96 million beating estimates of $290.11 million. The company also increased its FY24 revenue forecast, causing shares to rise 9.1% to $23.80. Other stocks making significant moves include Icosavax (ICVX) with a 47.1% jump after AstraZeneca's acquisition plans, and Eagle Bulk Shipping (EGLE) rising 9.2% following a merger announcement with Star Bulk. Various companies reported positive financial results or received favorable analyst ratings, contributing to their stock gains.

Portfolio Pulse from Avi Kapoor

December 12, 2023 | 3:13 pm

Cassava Sciences, Inc. (NASDAQ:SAVA) stock is experiencing a significant increase, trading higher with over 20% gains in the last five days. The company has seen heavy trading volume, surpassing its 100-day average, with 36.61% of shares being sold short. The upward momentum follows the recent appointment of three new board members. Cassava Sciences is a clinical-stage biotech company focused on developing simufilam for Alzheimer's treatment. The stock is currently trading above its 50-day moving average but below its 52-week high.

Portfolio Pulse from Erica Kollmann

December 11, 2023 | 5:50 pm

Cassava Sciences reported Q3 losses of $(0.61) per share, beating the analyst consensus estimate of $(0.77) by 20.78 percent. However, this is a 19.61 percent increase in losses compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 2:09 pm

Cassava Sciences has completed enrollment for its Phase 3 program of Simufilam in Alzheimer's disease. The program includes two trials with 1,929 patients. Top-line results for the 52-week trial are expected by the end of 2024, and for the 76-week trial by mid-2025.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 2:16 pm

Cassava Sciences, Inc. (NASDAQ:SAVA) shares surged after the company announced that MRI data suggested its drug simufilam is not associated with amyloid-related imaging abnormalities (ARIA), a known risk factor for Alzheimer's patients. The stock experienced above-average trading volume of 3.73 million shares compared to its average volume of 1.07 million. Shares of SAVA were up 24.5% at $18.39 at the time of publication.

Portfolio Pulse from Ryan Gustafson

October 25, 2023 | 7:43 pm

Cassava Sciences announced that MRI data suggests its drug simufilam is not associated with amyloid-related imaging abnormalities, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 6:07 pm

Cassava Sciences, Inc. (NASDAQ:SAVA) announced a significant safety finding based on interim MRI brain data from Alzheimer's patients enrolled in a Phase 3 clinical trial of simufilam. The data suggests that simufilam is not associated with amyloid-related imaging abnormalities (ARIA), a known risk factor for Alzheimer's patients taking anti-amyloid antibody drugs. The safety finding is based on an independent, interim neuroradiological evaluation of brain MRIs taken at week 40 in a blinded sub-study of 180 Alzheimer's patients.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 1:17 pm

Benzinga's options activity scanner has identified unusual trading activity in 10 health care stocks. The stocks include Edwards Lifesciences (EW), Danaher (DHR), Gilead Sciences (GILD), Cassava Sciences (SAVA), Novo Nordisk (NVO), Achieve Life Sciences (ACHV), Moderna (MRNA), Tenet Healthcare (THC), Sarepta Therapeutics (SRPT), and Eli Lilly and Company (LLY). The scanner tracks large transactions, often made by entities with significant funds, which could potentially influence the market estimation of an option.

Portfolio Pulse from Benzinga Insights

October 24, 2023 | 5:35 pm

The article lists the stocks that gained and lost in Thursday's mid-day session. Notable gainers include SeaStar Medical Holding Corporation, Outlook Therapeutics, Inc., and Netflix, Inc., which reported better-than-expected results for its third quarter. On the other hand, notable losers include Nxu, Inc., Perception Capital Corp. II, and Nokia Oyj, which reported downbeat quarterly results and announced a headcount reduction.

Portfolio Pulse from Lisa Levin

October 19, 2023 | 5:52 pm

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