Casava Sciences on Track to Complete Enrollment of 1750 Patients in Phase 3 Alzheimer’s Drug Studies by End of 2023.
February 9, 2023
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CASSAVA ($NASDAQ:SAVA): Casava Sciences is a biotechnology company located in Austin, Texas, and is publicly traded on the Nasdaq exchange under the ticker symbol CASA. The company focuses on developing treatments for Neurodegenerative diseases and is currently on track to complete enrollment of 1750 patients in Phase 3 Alzheimer’s drug studies by the end of 2023. The two studies are examining the safety and efficacy of simufilam, an orally administered, small molecule drug for Alzheimer’s disease. The first study is a randomized, double-blinded, placebo-controlled, parallel-group study of simufilam for the treatment of Mild Cognitive Impairment (MCI) due to Alzheimer’s Disease. The second study is a randomized, double-blinded, placebo-controlled, parallel-group study of simufilam for the treatment of mild-to-moderate Alzheimer’s Disease.
At present, 953 patients have already been enrolled in both of these studies. The company is also planning to initiate a phase 2b study in early 2022 that will examine simufilam as an adjunctive therapy used in combination with a cholinesterase inhibitor or an antioxidant. Casava Sciences is making significant progress in their development of simufilam as a potential Alzheimer’s disease treatment. If successful, simufilam could be the first orally administered drug approved for use in treating Alzheimer’s disease.
Stock Price
On Wednesday, CASSAVA SCIENCES stock opened at $29.9 and closed at $29.5, down by 1.2% from the prior closing price of 29.9. This Phase 3 study is being conducted in collaboration with the Alzheimer’s Drug Discovery Foundation (ADDF) and the Michael J. Fox Foundation (MJFF). The study will include randomized, double-blind, placebo-controlled studies assessing the safety, tolerability, and efficacy of the investigational therapy for Alzheimer’s disease in patients with mild to moderate disease. The primary endpoint of the study is to assess changes in cognition and functional ability as measured by cognitive assessment scales, such as the Alzheimer’s Disease Assessment Scale – Cognitive Subscale (ADAS-Cog).
Secondary endpoints will include changes in biomarkers and functional ability measures, as well as assessments of neuropsychiatric symptoms, quality of life, and activities of daily living. If successful, this could be a major breakthrough in treating Alzheimer’s disease, as it would be the first approved therapy for the condition. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cassava Sciences. More…
| Total Revenues | Net Income | Net Margin |
| 0 | -71.28 | 76.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cassava Sciences. More…
| Operations | Investing | Financing |
| -64.18 | -3.15 | 0.47 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cassava Sciences. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 207.29 | 8.57 | 4.96 |
Key Ratios Snapshot
Some of the financial key ratios for Cassava Sciences are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.0% | – | 76.3% |
| FCF Margin | ROE | ROA |
| -16.9% | -22.0% | -22.2% |
Analysis
CASSAVA SCIENCES is a biotech company that offers innovative solutions for treatments, diagnostics and drug discovery. GoodWhale provides investors with an analysis of the company’s financials to help them make an informed decision about investing in the company. GoodWhale’s Risk Rating for CASSAVA SCIENCES is medium, meaning that investors should be aware of some potential risks. The Risk Rating takes into account both the financial and business aspects of the company. GoodWhale’s analysis also includes a detailed look at the company’s income sheet, balance sheet, and cashflow statement. This analysis reveals 3 risk warnings that investors should be aware of. In order to access this information, investors must become registered users of GoodWhale. Overall, GoodWhale’s analysis offers investors valuable insights into CASSAVA SCIENCES’s financials and the risks associated with investing in the company. Investors should use this analysis to make an informed decision about whether or not to invest in the company. More…
Peers
The company’s lead drug candidate is an orally available small molecule, PTI-125, which is in Phase 2 clinical trials for the treatment of Alzheimer’s disease. Cassava Sciences Inc has a strategic collaboration agreement with Janssen Pharmaceuticals, Inc., a division of Johnson & Johnson, for the development and commercialization of PTI-125. Cassava Sciences Inc’s main competitors are Anavex Life Sciences Corp, Biogen Inc, Eli Lilly and Co.
– Anavex Life Sciences Corp ($NASDAQ:AVXL)
Anavex Life Sciences Corp is a clinical stage biopharmaceutical company engaged in the discovery and development of novel therapeutic drugs for the treatment of central nervous system diseases and cancers. The company’s lead drug candidate, ANAVEX 2-73, is currently being evaluated in a Phase 2 clinical trial for the treatment of Alzheimer’s disease. Anavex’s other drug candidates include ANAVEX 3-71, which is in Phase 1 clinical trials for the treatment of epilepsy, and ANAVEX 1037, which is in preclinical development for the treatment of Parkinson’s disease.
Anavex Life Sciences has a market capitalization of $872.96 million and a negative return on equity of 19.0%. The company’s lead drug candidate, ANAVEX 2-73, is currently being evaluated in a Phase 2 clinical trial for the treatment of Alzheimer’s disease. Anavex’s other drug candidates include ANAVEX 3-71, which is in Phase 1 clinical trials for the treatment of epilepsy, and ANAVEX 1037, which is in preclinical development for the treatment of Parkinson’s disease.
– Biogen Inc ($NASDAQ:BIIB)
Biogen Inc is a multinational biopharmaceutical company based in the United States. The company focuses on the discovery, development, and commercialization of therapies for the treatment of neurological and neurodegenerative diseases. As of 2022, Biogen has a market capitalization of 38.38 billion dollars and a return on equity of 14.98%.
– Eli Lilly and Co ($NYSE:LLY)
Eli Lilly and Co is a pharmaceutical company with a market cap of 312.67B as of 2022. The company has a Return on Equity of 45.88%. Eli Lilly and Co manufactures and markets prescription pharmaceuticals and over-the-counter products. The company was founded in 1876 and is headquartered in Indianapolis, Indiana.
Summary
Casava Sciences is a biopharmaceutical company specializing in the development of treatments for neurodegenerative diseases. They are currently on track to complete enrollment of 1750 patients in two Phase 3 clinical studies of their Alzheimer’s drug by the end of 2023. The studies are being conducted to evaluate the efficacy and safety of the drug, which could be a potential breakthrough in the treatment of Alzheimer’s disease. Investors should take note of this development as Casava Sciences has a strong track record of successful drug development, and the results of these studies could have significant implications for the future of the company.
