Summary by Moomoo AI
Cassava Sciences, Inc., a clinical-stage biotechnology company, reported its financial results for the fiscal year ended December 31, 2023. The company, which focuses on the development of novel drugs and diagnostics for neurodegenerative diseases such as Alzheimer's, has not generated any revenue from product sales and reported a net loss of $97.2 million for the year. Cassava Sciences' lead therapeutic drug candidate, simufilam, is currently in Phase 3 clinical trials for the treatment of Alzheimer's disease dementia. The company also has an investigational diagnostic product candidate, SavaDx, aimed at detecting Alzheimer's disease from a blood sample. Cassava Sciences ended the year with $121.1 million in cash and cash equivalents and believes its existing funds will be sufficient to support operations for...Show More