EXHIBIT 99.1 Cassava Sciences Reports Q2 2024 Financial Results and Operational Updates $207.3 Million in Cash and Cash Equivalents at June 30, 2024. Company in Advanced Discussions to Resolve SEC Investigation. $40 Million Estimated Loss Contingency Recorded in Q2 for Resolution. Conference Webcast Scheduled for Today at 8:30AM ET. AUSTIN, Texas, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Cassava Sciences, Inc. (Nasdaq: SAVA), a biotechnology company focused on a novel treatment for Alzheimer's disease, today repor ...

Last month, we took a look at three biotech stocks following a historically bullish month for biotech exchangetraded fund (ETF) SPDR S&P Biotech ETF (XBI). Today, we'd will take a look at two more biotech names as they stage outsized moves in opposing directions. TG Therapeutics Inc (NASDAQ:TGTX) stock is up 23.2% to trade at $21.20 at last check, and headed for its largest single-day percentage gain since February, after the company's second-quarter earnings beat estimates by 157%. On the charts, TGTX shar ...

Cassava Sciences (NASDAQ:SAVA) stock is a hot topic among traders on Tuesday alongside a few important pieces of news that investors need to know about this morning. First off, traders will note that SAVA is a trending stock today. This had it claiming one of the top 10 spots on Yahoo Finance's Trending Tickers tab earlier this morning. While interest has waned a little since then, investors are still wondering what's behind the extra attention for the stock. One thing that's worth noting is that SAVA stock ...

AUSTIN, Texas, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Cassava Sciences, Inc. (Nasdaq: SAVA), a clinicalstage biotechnology company focused on Alzheimer's disease, announced today that it will hold a conference call on Thursday, August 8th at 8:30 a.m. Eastern Time. Event details follow: Date: Thursday, August 8th Time: 8:30 a.m. Eastern Time Audio Webcast: https://www.CassavaSciences.com/company-presentations Or Audio Webcast: https://edge.media-server.com/mmc/p/zjvmjjcr A replay of the audio webcast will also b ...

Core Viewpoint - Cassava Sciences is extending trials for its Alzheimer's treatment candidate simufilam by up to 36 months, following recent executive resignations and fraud charges against a research collaborator, which raises concerns about the company's credibility and future growth prospects [1][4][10]. Group 1: Trial Extension and Company Response - The company announced the extension of open-label trials in its ongoing Phase 2 and Phase 3 clinical programs, allowing previous participants to continue treatment with simufilam [10]. - Executive Chairman Rick Barry emphasized that extending the trial is a significant commitment aimed at benefiting patients [7]. Group 2: Stock Performance and Market Sentiment - SAVA stock has seen notable growth recently, with shares up more than 1% on the day and over 50% in the past five days, despite a 25% decline over the last six months [6][10]. - The recent stock surge appears to be driven by speculative trading rather than substantial positive developments, suggesting a potential return to previous levels if momentum fades [8][10]. Group 3: Challenges and Scrutiny - The company continues to face scrutiny regarding the integrity of its clinical data, which may hinder investor confidence despite the trial extension [10]. - The troubled history of Cassava, including its past as a meme stock, complicates its growth prospects and investor sentiment [6][10].

Cassava is currently running two double-blind, randomized, placebo-controlled studies of simufilam in patients with mild-to-moderate Alzheimer's disease dementia. RETHINK-ALZ is a 52-week trial in which 804 patients were randomized 1:1 between simufilam 100 mg and placebo. REFOCUS-ALZ is a 76-week trial in which 1,125 patients were randomized 1:1:1 between simufilam 100 mg, simufilam 50 mg, and placebo. The trials are being conducted at 172 clinical sites in the United States, Canada, Puerto Rico, Australia ...

The extension provides participants the opportunity to continue on treatment, if they desire, pending results of the ongoing pivotal Phase 3 trials. AUSTIN, Texas, July 30, 2024 (GLOBE NEWSWIRE) -- Cassava Sciences, Inc. (Nasdaq: SAVA) today announced that the Company will extend by up to an additional 36 months each of the open-label extension trials in its ongoing Phase 2 and Phase 3 clinical programs. These amendments to the protocols will allow patients who have previously participated in a randomized t ...

On top of that, the company is expecting a second clinical trial to be ready in June 2025. This is split on a onefor-one-for-one basis between two doses of simufilam and a placebo. There are 1,125 patients in this trial. SAVA stock is also up 29% as of Monday afternoon. However, its shares are still down 42% since the start of the year. Read More:Penny Stocks — How to Profit Without Getting Scammed "Our board of directors is 100% committed to completing our Phase 3 program and releasing those results on a t ...

Barry was appointed as Cassava's executive chairman on July 17, 2024. He has served on the biopharmaceutical company's board of directors since June 2021. Barry is leading Cassava as it searches for a new CEO following former CEO Remi Barbier's resignation last week. Is Cassava Sciences stock a buy after its rebound? Why did investors like what Cassava's new executive chairman said? Despite the strong gains today, Cassava Sciences' share price is still down more than 40% year to date. Is the beaten-down bio ...

Mr. Barry succeeds Remi Barbier, the Company's Chairman, President and CEO, who resigned from the Company and the Board. Mr. Barbier will remain employed by the Company until September 13, 2024 in a nonexecutive capacity, without duties or responsibilities. "As a public company, and one dedicated to developing a drug for Alzheimer's disease, we hold ourselves to the highest standards," Mr. Barry said. "While our priority remains the development of a potentially effective treatment for Alzheimer's disease, t ...