Cassava Sciences, Inc.

Equities

SAVA

US14817C1071

Biotechnology & Medical Research

Market Closed - Nasdaq Other stock markets 21:00:00 28/06/2024 BST			5-day change	1st Jan Change
12.35 ^USD	-34.83%		-38.31%	-45.14%

06-28	Health Care Stocks Slip -- Health Care Roundup	DJ
06-28	Cassava Sciences' Shares Down 46% After Adviser Is Indicted	DJ

Cassava Sciences' Shares Down 46% After Adviser Is Indicted

June 28, 2024 at 09:16 pm

By Josh Beckerman

Shares of Alzheimer's drug developer Cassava Sciences tumbled following the indictment of a medical professor who advised the company.

The stock fell 46% to $10.17. Cassava's shares fell at one point to $8.79 on Friday, the lowest they have been since October 2020. The shares are down 54% this year

The Justice Department said on Friday that City University of New York School of Medicine Professor Hoau-Yan Wang was indicted on charges related to obtaining federal research grants. It said he "allegedly engaged in a scheme to fabricate and alsify scientific data in grant applications."

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

06-28-24 1615ET

Latest news about Cassava Sciences, Inc.

Health Care Stocks Slip -- Health Care Roundup	06-28	DJ
Cassava Sciences' Shares Down 46% After Adviser Is Indicted	06-28	DJ
US professor charged with manipulating data for Alzheimer's drug trial	06-28	RE
HC Wainwright Adjusts Price Target on Cassava Sciences to $131 From $124, Maintains Buy Rating	05-17	MT
Cassava Sciences, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024	05-10	CI
Cassava Sciences Raises More Than $125 Million From Warrant Distribution	05-08	MT
North American Morning Briefing : Stock Futures -2-	05-06	DJ
North American Morning Briefing : Investors Brace -2-	04-29	DJ
Cassava Sciences Announces Completion of Interim Safety Review for Alzheimer's Drug Candidate Simufilam	03-25	MT
Cassava Sciences, Inc. Announces Completion of an Interim Safety Review of Oral Simufilam On-Going Phase 3 Trials	03-25	CI
Cassava Sciences, Inc. Reports Earnings Results for the Full Year Ended December 31, 2023	02-28	CI
Cassava Sciences, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2023	02-28	CI
Cassava Sciences, Inc. Reports Results of Two-Year Clinical Safety Study of Simufilam, an Investigational Oral Drug for the Proposed Treatment of Alzheimer?s Disease Dementia	02-07	CI
Cassava Sciences, Inc.(NasdaqCM:SAVA.W) dropped from Russell 2000 Index	01-08	CI
Cassava Sciences, Inc.(NasdaqCM:SAVA.W) dropped from Russell 3000 Index	01-08	CI
Cassava Sciences, Inc.(NasdaqCM:SAVA.W) dropped from Russell 2500 Index	01-08	CI
Cassava Sciences, Inc.(NasdaqCM:SAVA.W) dropped from Russell Small Cap Completeness Index	01-08	CI
Cassava Sciences, Inc.(NasdaqCM:SAVA.W) dropped from Russell Small Cap Comp Growth Index	01-08	CI
Cassava Sciences, Inc.(NasdaqCM:SAVA.W) dropped from Russell 3000 Growth Index	01-08	CI
Cassava Sciences, Inc.(NasdaqCM:SAVA.W) dropped from Russell 2500 Growth Index	01-08	CI
Cassava Sciences, Inc.(NasdaqCM:SAVA.W) dropped from Russell 3000E Index	01-08	CI
Cassava Sciences, Inc.(NasdaqCM:SAVA.W) dropped from Russell 3000E Growth Index	01-08	CI
Cassava Sciences, Inc.(NasdaqCM:SAVA.W) dropped from Russell 2000 Dynamic Index	01-08	CI
Cassava Sciences, Inc.(NasdaqCM:SAVA.W) dropped from Russell 2500 Dynamic Index	01-08	CI
Cassava Sciences, Inc.(NasdaqCM:SAVA.W) dropped from Russell 2000 Growth-Dynamic Index	01-08	CI

Chart Cassava Sciences, Inc.

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Company Profile

Cassava Sciences, Inc. is a biotechnology company focused on Alzheimer's disease. The Company's science is based on stabilizing, but not removing, a critical protein in the brain. The Company is focused on its product discovery and development efforts on disorders of the nervous system. Its lead therapeutic drug candidate, simufilam, is under clinical evaluation for the proposed treatment of Alzheimer's disease dementia in Phase 3 clinical studies. The Company has two biopharmaceutical assets under development. Its lead therapeutic product candidate, called simufilam, is an oral treatment for Alzheimer's disease dementia. Its lead investigational diagnostic product candidate, called SavaDx, is a way to detect the presence of Alzheimer's disease from a small sample of blood. Simufilam targets an altered form of a protein called filamin A in the Alzheimer's brain. It owns rights to its drug and diagnostic assets and related technologies, without royalty obligations to any third party.

Sector

Biotechnology & Medical Research

Calendar

30/07/2024 - Q2 2024 Earnings Release (Projected)

Related indices

Russell 2000

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Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

12.35 USD

Average target price

103 USD

Spread / Average Target

+734.01%

Consensus

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Quarterly earnings - Rate of surprise

Company calendar

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