Cassava Sciences Inc. (PX91)
XFRA 
Summary
PX91 Chart
Down -39.52% in 4 Weeks, Here's Why Cassava Sciences (SAVA) Looks Ripe for a Turnaround
The heavy selling pressure might have exhausted for Cassava Sciences (SAVA) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.
Is the Future Bleak for SAVA Stock Following Another Setback?
The failure of yet another late-stage study on its Alzheimer's disease candidate puts Cassava Sciences in a pickle with uncertain growth prospects.
Cassava Sciences must face malicious prosecution lawsuit over Alzheimer's drug
The biotechnology company Cassava Sciences failed on Wednesday to end a malicious prosecution lawsuit by doctors and short-sellers who expressed doubts about its experimental, soon-to-be-discontinued Alzheimer's drug simufilam.
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Cassava Sciences Inc. Profile
| Biotechnology Industry | Healthcare Sector | Richard Jon Barry CEO | XFRA Exchange | 14817C107 CUSIP |
| US Country | 30 Employees | 13 Dec 2012 Last Dividend | 10 May 2017 Last Split | 14 Jul 2000 IPO Date |
Overview
Cassava Sciences, Inc. is a clinical-stage biotechnology company focused on the discovery and development of novel drugs for the treatment of neurodegenerative diseases, particularly diseases that affect the brain. The company's efforts are primarily directed towards addressing Alzheimer’s disease, one of the most challenging and prevalent neurodegenerative disorders. Originally founded in 1998 and based in Austin, Texas, Cassava Sciences made a significant shift in its operational focus and rebranded itself from Pain Therapeutics, Inc. to its current name in March 2019. This name change reflects the company’s redirected focus towards neuroscience and its dedication to advancing the scientific understanding and treatment of neurodegenerative diseases.
Products and Services
The company is advancing its pipeline through the development of its lead therapeutic product candidate, simufilam, alongside an investigational diagnostic product, SavaDx:
- Simufilam: This small molecule drug has successfully completed a Phase 2 clinical trial and stands at the forefront of Cassava Sciences’ product pipeline. Simufilam is designed to target the pathological changes in the brain associated with Alzheimer's disease, aiming to halt or perhaps reverse the cognitive decline seen in patients affected by this condition.
- SavaDx: As a complementary effort to its therapeutic initiatives, Cassava Sciences is also developing SavaDx, an investigational diagnostic product. SavaDx is a blood-based biomarker/diagnostic tool intended for the detection of Alzheimer's disease. Its development aligns with the increasing need for non-invasive and accessible diagnostic methods that can accurately diagnose Alzheimer’s disease at an early stage, potentially improving treatment outcomes and patient management.
