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Jun 30, 2023
Cassava Sciences Q2 2023 Earnings Report
Announced financial results for the second quarter ended June 30, 2023.
Key Takeaways
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.
Net loss was $26.4 million, or $0.63 per share, compared to a net loss of $19.3 million for the same period in 2022.
Net cash used in operations was $33.2 million during the first half of 2023.
Net cash use in second half 2023 is expected to be $40 to $50 million.
Over 1,587 patients with mild-to-moderate Alzheimer’s disease are now enrolled in a Phase 3 program of simufilam.
Forward Guidance
Net cash use in second half 2023 is expected to be $40 to $50 million, driven primarily by expenses for our clinical program in Alzheimer’s disease.
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