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Sep 30, 2023
Cassava Sciences Q3 2023 Earnings Report
Reported financial and operating results for the third quarter ended September 30, 2023.
Key Takeaways
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.
Completed enrollment in Phase 3 trials for simufilam with 1,929 patients randomized.
Top-line results for the first 52-week Phase 3 study are expected approximately year-end 2024.
Top-line results for the second 76-week Phase 3 study are expected approximately mid-year 2025.
Interim safety MRI data suggests simufilam is not associated with treatment-emergent ARIA.
Forward Guidance
The news release discusses the design, scope, conduct, continuation, completion, intended purpose, or future results of Cassava Sciences' ongoing Phase 3 program of simufilam in patients with Alzheimer's disease. It also mentions the suitability of clinical data from the Phase 3 program to support the filing of an NDA.
Positive Outlook
- The company is making important progress with simufilam, their lead drug candidate.
- Enrollment is complete in a pair of ongoing Phase 3 trials to evaluate the safety and efficacy of oral simufilam versus placebo in Alzheimer's disease dementia.
- A Data and Safety Monitoring Board recommended that the Phase 3 studies continue as planned, without modification.
- A fourth academic institution showed non-clinical data in support of the biological activity of simufilam.
- Interim MRI safety data suggests simufilam is not associated with treatment-emergent ARIA.
Challenges Ahead
- Drug development and commercialization involve a high degree of risk.
- Clinical results and analyses of previous studies should not be relied upon as predictive of Phase 3 studies or any other study.
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