Cassava Sciences Earnings Reports

Cassava Sciences is preparing to report topline results from the REFOCUS-ALZ study in late Q1/early Q2 2025 and will evaluate the next steps for simufilam in Alzheimer's disease after reviewing these results in conjunction with the RETHINK-ALZ study results. They have also entered a licensing agreement with Yale University to explore simufilam's potential for TSC-related seizures.

Cassava Sciences reported their Q3 2024 financial results, with the anticipation of releasing top-line results from their first Phase 3 trial for simulfilam by the end of 2024.

Cassava Sciences reported a net income of $6.2 million for the second quarter of 2024, a significant improvement compared to a net loss of $26.4 million for the same period in 2023. The company's warrant program provided over $123 million in equity capital, strengthening its balance sheet. Both Phase 3 studies are fully enrolled, with top-line data readout for the RETHINK-ALZ study expected by the end of 2024 and for the REFOCUS-ALZ study in mid-2025.

Cassava Sciences reported a net income of $25.0 million for the first quarter of 2024, a significant improvement compared to the net loss of $24.3 million for the same period in 2023. Both Phase 3 studies are fully enrolled, with approximately 1,900 patients randomized. Top-line data readout for the 52-week study (RETHINK-ALZ) is anticipated approximately year-end 2024, and for the 76-week study (REFOCUS-ALZ) approximately mid-year 2025.

Cassava Sciences reported a net loss for the full year 2023 of $97.2 million, or $2.32 per share. The company completed patient enrollment in both Phase 3 studies of simufilam and anticipates top-line data readout for the 52-week study approximately year-end 2024.

Cassava Sciences reported on their progress with simufilam, their lead drug candidate, including the completion of enrollment in Phase 3 trials and interim safety MRI data suggesting simufilam is not associated with treatment-emergent ARIA.

Cassava Sciences reported a net loss of $26.4 million, or $0.63 per share, for the second quarter of 2023. The company's net cash used in operations was $33.2 million during the first half of 2023, and they expect to use $40 to $50 million in the second half of 2023.

Cassava Sciences reported a net loss of $24.3 million, or $0.58 per share, for the first quarter of 2023. Net cash used in operations was $13.3 million during the same period.

Cassava Sciences reported financial results for the year ended December 31, 2022, and provided operating updates.

Cassava Sciences reported a net loss of $20.3 million for the third quarter of 2022, with cash and cash equivalents totaling $174.7 million as of September 30, 2022. The company's Phase 3 program of simufilam in Alzheimer's disease has enrolled over 650 patients.

Cassava Sciences reported a net loss of $19.3 million for the second quarter of 2022, with cash and cash equivalents totaling $197.2 million as of June 30, 2022. A total of over 400 patients are now enrolled in the Phase 3 program of simufilam in Alzheimer’s disease.

Cassava Sciences reported a net loss of $17.5 million, or $0.44 per share, for the first quarter of 2022. The company had $209.7 million in cash and cash equivalents as of March 31, 2022 and over 120 patients are now enrolled in the Phase 3 program.

Cassava Sciences reported a net loss for the full year 2021 of $32.4 million, or $0.82 per share, and has $233.4 million of cash on hand. The company initiated two Phase 3 clinical studies with simufilam in the second half of 2021 and is focused on enrolling over 1,700 patients into the Phase 3 clinical program.

Cassava Sciences reported a net loss of $9.6 million, or $0.24 per share, for the third quarter ended September 30, 2021. Cash and cash equivalents were $241.5 million as of September 30, 2021.

Cassava Sciences reported a net loss of $5.1 million, or $0.13 per share, for the second quarter ended June 30, 2021. Cash and cash equivalents were $278.3 million as of June 30, 2021.

Cassava Sciences reported a net loss of $3.5 million, or $0.09 per share, for the first quarter of 2021. Cash and cash equivalents were $282.2 million as of March 31, 2021.

Cassava Sciences reported a net loss of $6.3 million for the full year 2020, with cash and cash equivalents at $93.5 million as of December 31, 2020. The company is on track to initiate two pivotal Phase 3 studies in the second half of 2021 and expects net cash use of $20 to $25 million in 2021.

Cassava Sciences reported a net loss of $1.4 million, or $0.06 per share, for the third quarter ended September 30, 2020. The company's cash and cash equivalents were $24.1 million as of September 30, 2020, with no debt.

Cassava Sciences reported a net loss of $1.1 million, or $0.05 per share, for the second quarter ended June 30, 2020. The company's cash and cash equivalents were $25.3 million as of June 30, 2020, with no debt.

Cassava Sciences reported a net loss of $1.2 million, or $0.05 per share, for the first quarter of 2020. Cash and cash equivalents were $25.6 million as of March 31, 2020.

Cassava Sciences reported a net loss of $4.6 million for the full year 2019, with cash and cash equivalents totaling $23.1 million as of December 31, 2019. The company anticipates net cash use of approximately $5 million for the full year 2020 and is focused on advancing its Alzheimer's disease product candidates.