Cassava Sciences Added to Russell Indexes and Provides Phase 2b Study Update
June 16 2020 - 8:15AM
Cassava Sciences, Inc. (Nasdaq:SAVA), a clinical-stage
biotechnology company focused on Alzheimer’s disease, today
announced that the Company will be added to the Russell 2000® and
Russell 3000® Indexes, effective after the close of the U.S.
markets on Friday, June 26, 2020. These indexes provide
institutional investors and other market participants with exposure
to the performance of certain segments of the U.S. stock market.
“We are pleased Cassava Sciences is being added
to these stock market indexes and are looking forward to building
further awareness with the investor community about our focus on
Alzheimer’s disease,” said Remi Barbier, President & CEO. “In
addition, we look forward to announcing comprehensive study results
from our Phase 2b study in approximately Q3 this year.”
Phase 2b Study UpdateIn Q2
2020, Cassava Sciences completed a double-blind, randomized,
placebo-controlled study of PTI-125 in patients with
mild-to-moderate Alzheimer’s disease (N=64). This Phase 2b study
was substantially funded by a research grant award from the
National Institutes of Health (NIH). Top-line results from certain
cerebrospinal (CSF) biomarkers were reported May 15, 2020.
The Company is now conducting a more
comprehensive analysis of clinical study results, including
underlying data from lymphocyte, plasma and CSF samples from study
participants. All bioanalyses are being conducted by an outside lab
under blinded conditions. The Company is also evaluating the
effects of PTI-125 on cognition in this study. Cassava Sciences
expects to announce comprehensive study results from its Phase 2b
study approximately Q3 2020.
An on-going, open-label study of PTI-125 in
patients with mild-to-moderate Alzheimer’s disease continues to see
strong interest from patients and physicians. The study is
substantially funded by a research grant award from NIH.
About PTI-125Cassava Sciences’
lead therapeutic product candidate is for the treatment of
Alzheimer’s disease. PTI-125 is a proprietary, small molecule
(oral) drug that restores the normal shape and function of altered
filamin A (FLNA), a scaffolding protein, in the brain. Altered FLNA
in the brain disrupts the normal function of neurons, leading to
Alzheimer’s pathology, neurodegeneration and neuroinflammation. The
underlying science is published in peer-reviewed scientific
journals, including Journal of Neuroscience, Neurobiology of Aging,
Journal of Biological Chemistry and Journal of Prevention of
Alzheimer’s Disease. The Company is also developing an
investigational diagnostic, called SavaDx, to detect Alzheimer’s
disease with a simple blood test.
About Alzheimer's
Disease Alzheimer’s disease is a progressive brain
disorder that destroys memory and thinking skills. Currently, there
are no drug therapies to halt Alzheimer’s disease, much less
reverse its course. In the U.S. alone, approximately 5.8 million
people are currently living with Alzheimer’s disease, and
approximately 487,000 people age 65 or older developed Alzheimer’s
in 2019.1 The number of people living with Alzheimer’s disease is
expected to grow dramatically in the years ahead, resulting in a
growing social and economic burden.2
About Cassava Sciences,
Inc.The mission of Cassava Sciences, Inc. is to detect and
treat neurodegenerative diseases, such as Alzheimer’s disease. Over
the past 10 years, Cassava Sciences has combined state-of-the-art
technology with new insights in neurobiology to develop novel
solutions for Alzheimer’s disease. Cassava Sciences owns worldwide
development and commercial rights to its research programs in
Alzheimer’s disease, and related technologies, without royalty
obligations to any third-party. For more information, please visit:
https://www.CassavaSciences.com
For Media Inquiries
Contact:Kirsten Thomas, SVP The Ruth
Groupkthomas@TheRuthGroup.com (508) 280-6592
Cautionary Note Regarding
Forward-Looking Statements: This press release contains
“forward-looking statements” for purposes of the Private Securities
Litigation Reform Act of 1995 (the Act). Cassava Sciences
claims the protection of the Safe Harbor for forward-looking
statements contained in the Act. All statements other than
statements of historical fact contained in this press release
including, but not limited to statements regarding the status of
clinical studies with PTI-125; the timing of announcing clinical
results of our Phase 2b study including lymphocyte, plasma and
cognition data; plans to have CSF samples from all Phase 2b study
participants re-analyzed; the interpretation of results of clinical
studies, potential health benefits, if any, of changes in levels of
biomarkers; variability in levels of biomarkers of disease; verbal
commentaries made by Cassava Sciences’ employees; and potential
benefits, if any, of the Company’s product candidates for
Alzheimer’s disease are all forward-looking statements. Such
statements are based largely on the Company’s current expectations
and projections about future events. Such statements speak only as
of the date of this press release and are subject to a number of
risks, uncertainties and assumptions, including, but not limited
to, those risks relating to the ability to conduct or complete
clinical studies on expected timelines, to demonstrate the
specificity, safety, efficacy or potential health benefits of our
product candidates, the severity and duration of health care
precautions given the COVID-19 pandemic, any unanticipated impacts
of the pandemic on our business operations, and including those
described in the section entitled “Risk Factors” in Cassava
Sciences’ Annual Report on Form 10-K for the year ended December
31, 2019 and future reports to be filed with the SEC. In light of
these risks, uncertainties and assumptions, the forward-looking
statements and events discussed in this press release are
inherently uncertain and may not occur, and actual results could
differ materially and adversely from those anticipated or implied
in the forward-looking statements. Accordingly, you should not rely
upon forward-looking statements as predictions of future events.
Except as required by law, the Company disclaims any intention or
responsibility for updating or revising any forward-looking
statements contained in this press release. For further information
regarding these and other risks related to our business, investors
should consult our filings with the SEC, which are available on the
SEC's website at www.sec.gov.
1, 2 Source: Alzheimer’s Association. 2019 Alzheimer’s Disease
Facts and Figures. Available online at:
https://www.alz.org/media/documents/alzheimers-facts-and-figures-2019-r.pdf
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