Cassava Sciences and business update
In November 2024, Cassava reported that the topline results from the Phase III RETHINK-ALZ study evaluating simufilam as a potential treatment for patients with mild-to-moderate Alzheimer’s disease did not meet its prespecified co-primary endpoints and that the Company intended to share a detailed analysis of data from the study at a future medical meeting
The Company also outlined its plan to discontinue the Phase III REFOCUS-ALZ study and Open Label Extension study and to analyze the complete 52-week dataset from the REFOCUS-ALZ study, along with a large portion of 76-week data. The Company is on track to complete these efforts and plans to release top-line REFOCUS-ALZ results late first-quarter/early second-quarter 2025. The Company also announced that it is reducing its workforce by 10 employees, or approximately 33%, in the first quarter of 2025, as well as continuing strategic expense management efforts. Expense reductions include halting the planned biomarker analysis of additional plasma samples from prior Phase II studies. The Company estimates that it will incur approximately $0.4 million of one-time costs in Q1 2025 related to the workforce reduction. The Company’s unaudited cash and cash equivalents balance as of December 31, 2024 was approximately $128.6 million
Learning Zones
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