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

U.S. stocks traded mostly lower with the Nasdaq Composite falling around 300 points. Johnson & Johnson reported better-than-expected earnings and raised its fiscal year 2024 guidance. Aditxt, Locafy, and Shimmick Corporation saw significant stock price increases, while ASLAN Pharmaceuticals, Cassava Sciences, and NaaS Technology experienced notable declines.

Portfolio Pulse from Avi Kapoor

July 17, 2024 | 1:39 pm

ASML, Spirit Airlines, and other major stocks experienced declines in pre-market trading on Wednesday. ASML reported strong Q2 results but saw a 6.8% drop in share price. Spirit Airlines issued soft Q2 revenue estimates, leading to a 5.7% decline. Other notable declines include Cassava Sciences, Logistic Properties of the Americas, and Five Below.

Portfolio Pulse from Avi Kapoor

July 17, 2024 | 12:21 pm

Cassava Sciences has announced significant leadership changes. Rick Barry has been appointed as the Executive Chairman and Principal Executive Officer, while Remi Barbier has resigned from his roles as President, CEO, and Board Member. The company has initiated a search for a new CEO.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 12:04 pm

The FDA has approved Kisunla for early symptomatic Alzheimer's disease. A Phase 3 study showed that Kisunla slowed cognitive and functional decline by up to 35% and reduced the risk of disease progression by up to 39%. Once-monthly infusions reduced amyloid plaques by 84% on average, with nearly half of participants completing treatment in 12 months.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 5:36 pm

Cassava Sciences (NASDAQ:SAVA) is cooperating with the DOJ and SEC amid investigations into its Alzheimer's drug, simufilam. The DOJ indicted Dr. Hoau-Yan Wang for fraudulent grant applications and manipulating research results. Cassava's internal investigation revealed potential unblinding of Phase 2b study participants. Despite the controversy, Cassava is proceeding with two Phase 3 clinical trials.

Portfolio Pulse from Vandana Singh

July 01, 2024 | 3:19 pm

Jones Trading analyst Soumit Roy has downgraded Cassava Sciences (NASDAQ:SAVA) from Buy to Hold.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 2:12 pm

Cassava Sciences shares are experiencing volatility as the company engages with the DOJ and SEC amid ongoing investigations. An Ad Hoc Committee has been empowered for an internal investigation based on SEC findings.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 12:47 pm

Cassava Sciences is engaging with the DOJ and SEC amid ongoing investigations. The company's board has empowered an ad hoc committee for an internal investigation based on SEC findings. Dr. Hoau-Yan Wang, a former scientific advisor to Cassava, has been indicted by the DOJ for allegedly defrauding the NIH with false research data.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 12:07 pm

Cassava Sciences shares are trading higher, rebounding after Friday's drop. The company clarified that Hoau-Yan Wang has had no involvement in the Phase 3 trials of Simufilam.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 11:09 am

HC Wainwright & Co. has downgraded Cassava Sciences (NASDAQ:SAVA) from Buy to Neutral, as per analyst Vernon Bernardino.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 11:03 am

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