SAVA

Leadership Changes at Cassava Sciences: Cassava Sciences announced the retirement of Chief Medical Officer James W. Kupiec, effective May 9, 2025, and appointed Jack Moore, PhD, as Senior Vice President of Clinical Development to advance their investigational treatment simufilam for CNS disorders.

Dr. Jack Moore's Background: Dr. Moore brings extensive experience in drug development for CNS and neurodegenerative diseases, having previously held leadership roles at major pharmaceutical companies, and is set to enhance Cassava's clinical evaluation strategies moving forward.

Leadership Changes at Cassava Sciences: James W. Kupiec, the Chief Medical Officer of Cassava Sciences, will retire on May 9, 2025, and Jack Moore has been appointed as Senior Vice President of Clinical Development.

Future Directions for Cassava Sciences: The company plans to phase out its Alzheimer's program by Q2, with ongoing discussions about potential impacts on stock performance and long-term value in other areas like TSC epilepsy.

Leadership Changes at Cassava Sciences: Cassava Sciences announced the retirement of Dr. James W. Kupiec as Chief Medical Officer, effective May 9, 2025, and appointed Dr. Jack Moore as Senior Vice President for Clinical Development starting April 28, 2025, to advance the clinical evaluation of their investigational treatment simufilam.

Focus on CNS Disorders: The company is concentrating on developing treatments for central nervous system disorders, including tuberous sclerosis complex-related epilepsy, leveraging Dr. Moore's extensive experience in drug development within this field.

Real-time Market Intelligence: Benzinga Pro offers the fastest and most accurate stock market alerts, helping traders stay informed and make winning trades daily.

Community of Traders: Over 10,000 serious traders are part of the Benzinga Pro community, gaining access to exclusive stories and insights from Benzinga reporters.

Analyst Rating: Vernon Bernardino from H.C. Wainwright has maintained a Hold rating on Cassava Sciences (SAVA), which opened at $2.45 today, with an analyst consensus also reflecting a Hold status.

Financial Performance: Cassava Sciences reported a quarterly GAAP net loss of $27.94 million for the quarter ending September 30, compared to a loss of $25.65 million in the same period last year.

Cassava Sciences Financial Results: Cassava Sciences (SAVA) reported its financial and operational results for the fiscal year ending December 31, 2024, highlighting a licensing agreement with Yale for simufilam as a treatment for seizures related to rare neurodevelopment disorders, although early data means no revenue forecasts are included yet.

Analyst Perspective: H.C. Wainwright has removed forecasts for simufilam's approval for Alzheimer's disease in 2026 from their models but remains focused on potential outcomes from the ongoing ReFocus-ALZ Phase 3 trial.

Market Overview: Stocks fell on the first day of March, with all major indices declining due to weak manufacturing data and impending tariffs that negatively impacted investor sentiment. The tech sector was notably affected, led by declines in companies like Broadcom and Amazon.

Stock Movements: Tesla shares rose 3% following positive analyst predictions, while other stocks reacted to earnings reports. Bitcoin and cryptocurrencies also saw a drop after a brief rally, reflecting broader market trends.

Clinical Trials Update: Cassava Sciences is set to report topline data from the REFOCUS-ALZ Phase 3 study of simufilam for Alzheimer's disease in late Q1 or early Q2 2025, following the discontinuation of the trial due to unmet endpoints in a previous study (RETHINK-ALZ). The company has also entered a licensing agreement with Yale University to explore simufilam's potential for treating seizures related to tuberous sclerosis complex.

Financial Performance: As of December 31, 2024, Cassava reported $128.6 million in cash and equivalents, a significant reduction in net loss to $24.3 million compared to $97.2 million in 2023, and a decrease in research and development expenses as they completed enrollment for their Alzheimer's trials.

Financial Performance: Cassava Sciences reported a Q4 GAAP EPS of -$0.57, exceeding expectations by $0.09, and had cash reserves of $128.6 million with no debt as of December 31, 2024.

Company Developments: The company is facing challenges after terminating the phase 3 REFOCUS-ALZ trial for simufilam, while also signing a licensing deal with Yale University that positively impacted their stock shares.

Root Inc Options Trading: Root Inc (ROOT) experienced significant options trading with 2,391 contracts, particularly for the $140 strike call option expiring on February 21, 2025, which saw 627 contracts traded.

Cassava Sciences Options Activity: Cassava Sciences Inc (SAVA) had a high volume of 7,624 contracts traded today, notably for the $3 strike call option expiring on February 21, 2025, with 2,009 contracts exchanged.

Class Action Notice: Rosen Law Firm is reminding investors who purchased Cassava Sciences, Inc. securities between February 7, 2024, and November 24, 2024, of the February 10, 2025, deadline to join a class action lawsuit for potential compensation without upfront costs.

Allegations Against Cassava: The lawsuit claims that Cassava misled investors about the viability of its drug candidate, simufilam, by presenting false information regarding its effectiveness in treating Alzheimer's Disease, leading to investor losses when the truth was revealed.

Shareholder Notice: The Gross Law Firm is notifying shareholders of Cassava Sciences, Inc. (NASDAQ: SAVA) about a class action lawsuit related to the company's drug candidate simufilam, which failed to meet study endpoints, leading to a significant stock price drop.

Action Steps for Shareholders: Shareholders who purchased SAVA shares between February 7, 2024, and November 24, 2024, are encouraged to register for potential recovery, with a lead plaintiff appointment deadline set for February 10, 2025.

Class Action Lawsuit: Levi & Korsinsky, LLP has initiated a class action lawsuit on behalf of investors in Cassava Sciences, Inc. due to alleged securities fraud that occurred between February 7, 2024, and November 24, 2024, following disappointing results from the company's drug candidate simufilam.

Stock Price Decline: After the release of negative Phase 3 study results for simufilam on November 25, 2024, Cassava's stock price plummeted approximately 83.76%, from $26.48 to $4.30 per share, prompting the lawsuit to seek compensation for affected investors.

Securities Class Action Lawsuit: A class action lawsuit has been filed against Cassava Sciences, Inc. for allegedly making false statements regarding its drug simufilam's effectiveness in treating Alzheimer's Disease during the period from February 7, 2024, to November 24, 2024.

Lead Plaintiff Process: Investors affected by losses from Cassava can seek to be appointed as lead plaintiffs by February 10, 2025, and are encouraged to contact Kessler Topaz Meltzer & Check, LLP for more information on participating in the lawsuit.

Class Action Reminder: Investors who purchased securities of Cassava Sciences, Inc. between February 7, 2024, and November 24, 2024, are reminded of the February 10, 2025 lead plaintiff deadline for a class action lawsuit regarding misleading information about the company's drug prospects.

Legal Representation Advice: The Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a proven track record in securities class actions, as many firms may not actively litigate cases but merely refer clients to others.

Securities Class Action Lawsuit: A class action lawsuit has been filed against Cassava Sciences, Inc. for allegedly making false statements regarding its drug simufilam's effectiveness in treating Alzheimer's Disease during the period from February 7, 2024, to November 24, 2024.

Lead Plaintiff Process: Investors who suffered losses can seek to be appointed as lead plaintiffs by February 10, 2025, and are encouraged to contact Kessler Topaz Meltzer & Check, LLP for more information on participating in the lawsuit.

Lead Plaintiff Applications Deadline: Investors in Cassava Sciences, Inc. have until February 10, 2025, to file lead plaintiff applications for a securities class action lawsuit due to alleged failure to disclose material information during the Class Period from February 7, 2024, to November 24, 2024.

Significant Stock Price Drop: Following the disclosure of disappointing results from a Phase 3 study of its drug candidate simufilam, Cassava's stock price plummeted approximately 83%, leading to potential claims of federal securities law violations against the company and its executives.

Class Action Lawsuit Against Cassava Sciences: Rosen Law Firm is representing investors in a class action lawsuit against Cassava Sciences, Inc. for misleading statements regarding their drug simufilam and its potential to treat Alzheimer's disease, leading to investor losses.

Eligibility and Participation: Investors who purchased Cassava securities between February 7, 2024, and November 24, 2024, may be eligible to participate in the lawsuit, with a deadline of February 10, 2025, to apply as lead plaintiffs.

Class Action Lawsuit Against Cassava Sciences: Rosen Law Firm is representing investors in a class action lawsuit against Cassava Sciences, Inc. for allegedly misleading shareholders about the potential of its drug simufilam and downplaying risks associated with it.

Eligibility for Participation: Investors who purchased Cassava stock between February 7, 2024, and November 24, 2024, may be eligible to join the lawsuit, with a deadline to apply by February 10, 2025, and no upfront costs required for participation.

Class Action Filed Against Cassava Sciences: A class action lawsuit has been filed against Cassava Sciences, Inc. for allegedly misleading investors about its drug prospects and minimizing risks associated with its leading drug candidate, simufilam, during the period from February 7, 2024, to November 24, 2024.

Investor Participation Information: Shareholders interested in participating as lead plaintiffs must file motions by February 10, 2025, while all representation is on a contingency fee basis, meaning no fees or expenses are incurred unless there is a recovery.