Cassava Sciences Reports Q2 2024 Financial Results and Operational Updates

August 9, 2024

https://www.globenewswire.com/news-release/2024/08/08/2926904/8339/en/Cassava-Sciences-Reports-Q2-2024-Financial-Results-and-Operational-Updates.html

AUSTIN, Texas, Aug. 08, 2024 (GLOBE NEWSWIRE) —  Cassava Sciences, Inc. (Nasdaq:SAVA), a biotechnology company focused on a novel treatment for Alzheimer’s disease, today reported financial results for the second quarter ended June 30, 2024. Net income was $6.2 million compared to a net loss of $26.4 million for the same period in 2023. Net cash used in operations was $37.4 million during the first half of 2024, consistent with previous guidance. Net cash use in second half 2024 is expected to be $80 to $90 million, which includes an estimated $40 million loss contingency related to advanced discussions to resolve the SEC’s investigation of the Company recorded in the second quarter.

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