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Mar 31, 2023
Cassava Sciences Q1 2023 Earnings Report
Reported financial results for the first quarter ended March 31, 2023.
Key Takeaways
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.
Net loss was $24.3 million, or $0.58 per share, compared to a net loss of $17.5 million, or $0.44 per share, for the same period in 2022.
Net cash used in operations was $13.3 million during the first quarter of 2023.
New guidance for net cash use in first half 2023 is expected to be $30 to $40 million, revised downward from previous guidance of $45 to $50 million.
Over 1,244 patients with mild-to-moderate Alzheimer’s disease are now enrolled in Phase 3 program of simufilam.
Forward Guidance
Cassava Sciences anticipates net cash use in the first half of 2023 to be between $30 to $40 million and is focused on completing patient enrollment for its Phase 3 program.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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