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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

26.40

Mkt cap

1.2B

Volume

1.6M

High

27.16

P/E Ratio

-8.95

52-wk high

42.20

Low

24.65

Div yield

N/A

52-wk low

8.79

Cassava Sciences' shares are trading lower following a report by the City University of New York that implicated a long-time collaborator of the company in scientific misconduct related to 20 research papers.

Portfolio Pulse from Bill Haddad

October 13, 2023 | 12:27 pm

Cassava Sciences Inc (NASDAQ:SAVA) is facing controversy as a recent investigation by the City University of New York (CUNY) has implicated neuroscientist Hoau-Yan Wang, a long-time collaborator of Cassava, in scientific misconduct related to 20 research papers. These papers were crucial in advancing simufilam, the company's lead Alzheimer's program. The investigation could not definitively prove its suspicions as Dr. Wang did not provide the original raw data. Last year, the U.S. Justice Department opened a criminal investigation into Cassava Sciences on whether it manipulated research results for its investigational Alzheimer's drug.

Portfolio Pulse from Vandana Singh

October 13, 2023 | 11:39 am

Shares of several companies including Oblong, Bio-Path Holdings, Blue Star Foods, Versus Systems, RedHill Biopharma, Datasea, Shift Technologies, Getaround, Scienjoy Holding, and Comtech Telecommunications surged in pre-market trading. Comtech's shares rose after posting better-than-expected Q4 results. On the other hand, shares of Cassava Sciences, SMART Global Holdings, BeyondSpring, Edesa Biotech, ReShape Lifesciences, Momentus, LogicMark, Society Pass, Tian Ruixiang Holdings, and ParaZero Technologies fell in pre-market trading.

Portfolio Pulse from Lisa Levin

October 13, 2023 | 11:35 am

Several US stocks traded lower in Friday's pre-market session. Outset Medical, Inc. (OM) fell 38.1% after reporting preliminary Q3 financial results. Cassava Sciences, Inc. (SAVA) shares dipped 28.8% following a statement regarding a leaked internal CUNY report. SMART Global Holdings, Inc. (SGH) declined 25.8% after reporting worse-than-expected Q4 financial results and a weak Q1 forecast. Puyi Inc. (PUYI), Nextdoor Holdings, Inc. (KIND), AvePoint, Inc. (AVPT), and JD.com, Inc. (JD) also recorded losses.

Portfolio Pulse from Lisa Levin

October 13, 2023 | 10:37 am

Cassava Sciences has issued a statement regarding a leaked internal report from the City University of New York (CUNY). The company states that there were no findings of data manipulation in the report.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 7:02 am

Several healthcare stocks experienced significant movement in Thursday's after-market session. Bio-Path Hldgs, Comera Life Sciences, Scinai Immunotherapeutics, 60 Degrees, Bellerophon Therapeutics, and Relay Therapeutics saw increases, while Cassava Sciences, Outset Medical, T2 Biosystems, OpGen, Tempest Therapeutics, and BeyondSpring saw decreases.

Portfolio Pulse from Benzinga Insights

October 12, 2023 | 9:32 pm

Shares of Cassava Sciences have plummeted following a report by 'Science' that a co-developer of Cassava's potential Alzheimer's drug has been cited for 'egregious misconduct'.

Portfolio Pulse from Charles Gross

October 12, 2023 | 9:30 pm

The co-developer of Cassava's potential Alzheimer's drug has been cited for 'egregious misconduct', according to a tweet by Adam Feuerstein.

Portfolio Pulse from Charles Gross

October 12, 2023 | 9:09 pm

Cassava Sciences has completed patient enrollment for a pivotal Phase 3 clinical trial of oral Simufilam in Alzheimer's disease with 804 patients. A second Phase 3 trial is expected to complete enrollment by Q4 2023, targeting approximately 1,100 patients.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 1:09 pm

Cassava Sciences, Inc. (NASDAQ:SAVA) announced a positive interim safety review of simufilam in ongoing Phase 3 clinical trials for Alzheimer's disease. The Data and Safety Monitoring Board (DSMB) recommended that both of Cassava Sciences' Phase 3 studies of simufilam continue as planned, without modification. Patient enrollment is expected to be completed for both Phase 3 studies by the end of 2023.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 1:16 pm

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