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Sep 30, 2022
Cassava Sciences Q3 2022 Earnings Report
Announced third quarter financial results for 2022 and provided a clinical update on its Phase 3 clinical program of simufilam in Alzheimer’s disease.
Key Takeaways
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.
Net loss for the third quarter of 2022 was $20.3 million, or $0.51 per share.
Cash and cash equivalents were $174.7 million as of September 30, 2022.
Over 650 patients are now enrolled in the Phase 3 studies of simufilam in Alzheimer's disease.
New clinical data for simufilam in Alzheimer’s disease is expected.
Forward Guidance
Net cash use for operations for full-year 2022 is expected to be approximately $80 to $90 million, consistent with previous guidance.
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