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

26.40

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 Inc (NASDAQ:SAVA) and its executives have agreed to pay over $40 million to settle SEC charges of manipulating Alzheimer's drug trial data. The SEC found that Cassava misled investors by promoting false efficacy data for its drug simufilam. The company's stock is down 10.90% in premarket trading.

Portfolio Pulse from Vandana Singh

September 27, 2024 | 12:28 pm

Cassava Sciences shares fell 16% after SEC charges for misleading Alzheimer's trial claims. Onconetix shares surged 94% following Altos Venture's 32.5% stake report. IonQ shares rose 10% after securing a $54.5 million contract with the US Air Force Research Lab.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 12:12 pm

In Friday's pre-market session, several healthcare stocks experienced significant price movements. Onconetix (ONCO) led the gainers with a 77% increase, while Theriva Biologics (TOVX) led the losers with an 18.6% decrease. Other notable gainers include Establishment Labs (ESTA) and Cardio Diagnostics (CDIO), while enVVeno Medical (NVNO) and Aytu BioPharma (AYTU) were among the significant decliners.

Portfolio Pulse from Benzinga Insights

September 27, 2024 | 12:09 pm

Cassava Sciences shares fell after the SEC charged the company and two former executives with making misleading claims about an Alzheimer's clinical trial.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 11:59 am

Establishment Labs Holdings Inc. (NASDAQ:ESTA) shares surged 28.3% in pre-market trading after receiving FDA approval for Motiva Implants. Other notable pre-market movers include Fangdd Network Group Ltd. (NASDAQ:DUO), Onconetix, Inc. (NASDAQ:ONCO), and Bristol-Myers Squibb Company (NYSE:BMY), which saw significant gains due to various positive developments.

Portfolio Pulse from Avi Kapoor

September 27, 2024 | 10:46 am

Cassava Sciences shares fell after the SEC charged the company and two former executives with making misleading claims about an Alzheimer's clinical trial.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 10:00 pm

The SEC has charged Cassava Sciences and two former executives for misleading claims about an Alzheimer's clinical trial, resulting in a $40 million civil penalty. The company and executives have agreed to settlements without admitting or denying the allegations.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 9:56 pm

Cassava Sciences announced the completion of an interim safety review for its Alzheimer's drug candidate, simufilam, in Phase 3 trials. The review, conducted by an independent board, recommended the trials continue without changes. The trials are fully enrolled with over 1,900 patients, and results are expected by the end of 2024 and mid-2025. Cassava's stock rose by 3.28% following the announcement.

Portfolio Pulse from Vaishali Prayag

September 24, 2024 | 3:04 pm

Cassava Sciences announced that an independent Data and Safety Monitoring Board (DSMB) has completed an interim safety review of its oral Simufilam in ongoing Phase 3 trials. The DSMB recommended that the trials continue as planned without modifications. Final clinical safety data will be available at the end of the Phase 3 program.

Portfolio Pulse from Benzinga Newsdesk

September 24, 2024 | 12:32 pm

Matt Nachtrab has responded to a tweet by Adam Feuerstein, accusing him of spreading misinformation or FUD (Fear, Uncertainty, and Doubt) about Cassava Sciences ($SAVA) to benefit short sellers. Nachtrab suggests that his actions might be disrupting the plans of these short sellers.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 8:26 pm

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