J Studios/DigitalVision via Getty Images Investment Overview Austin, Texas-based Cassava Sciences, Inc. (NASDAQ:SAVA) announced its Q2 2024 earnings today, and in early trading today, shares have dipped in value by ~5%, falling to $29 per share, which translates to a market cap valuation for the company of $1.4bn. I last covered Cassava in early July, discussing the indictment of a key Cassava advisor, Dr. Hoau-Yan Wang, for alleged fraud. In that note, I gave Cassava stock a "hold" rating. However, shares ...

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 ...

Core Viewpoint - Cassava Sciences, Inc. is extending its open-label extension trials for simufilam in Alzheimer's disease by up to 36 months, allowing patients to continue treatment while awaiting results from ongoing Phase 3 trials [2][8]. Group 1: Trial Details - The company is currently conducting two double-blind, randomized, placebo-controlled studies: RETHINK-ALZ, a 52-week trial with 804 patients, and REFOCUS-ALZ, a 76-week trial with 1,125 patients [4]. - The trials are being conducted at 172 clinical sites across the United States, Canada, Puerto Rico, Australia, and South Korea [4]. Group 2: Patient Commitment - Approximately 89% of patients in the ongoing Phase 3 program have chosen to continue with open-label treatment after completing the blinded trials [15]. - Prior to this extension, around 100 patients who completed the open-label Phase 3 extension trial had no option but to discontinue treatment, but they will now have the opportunity to re-enroll [15]. Group 3: Additional Monitoring - The company plans to incorporate cognition and plasma biomarker monitoring into the open-label extension trials to gather long-term data on the effects of simufilam treatment [9][10]. Group 4: Company Statements - Cassava's Executive Chairman, Rick Barry, emphasized the commitment to patients in expanding the open-label extension studies [3]. - Chief Medical Officer, James Kupiec, stated that the decision to expand the trials was in direct response to requests from clinical research sites [11]. Group 5: Future Expectations - The company expects to announce top-line results of the RETHINK-ALZ trial by the end of 2024 and for the REFOCUS-ALZ trial around mid-2025 [11].

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 ...

In a public statement about Wang's indictment, Cassava didn't disclose if there had been further contact with government agencies. However, the company emphasized in this statement that Wang and the medical school where he previously worked "have had no involvement in the Company's Phase 3 clinical trials of simufilam." What does this mean for Cassava Sciences? The biotech stock is feeling the heat from an indictment of a former consultant. Cassava has revealed that some government agencies have asked for i ...

Shares of Cassava Sciences (NASDAQ:SAVA), which has an Alzheimer's drug candidate called simufilam, fell 35% on June 28 and another 13% over the weekend. This move in SAVA stock comes after a key science advisor was charged with defrauding the National Institutes of Health (NIH). We may be getting our answer. Last year, a CUNY investigation found signs that images in Wang's early papers were manipulated. This included a 2012 paper indicating simufilam "can blunt the pathological effects of beta amyloid, a p ...