Why did Cassava Sciences' operating expenses surge in Q2 2024?

Cassava Sciences' operating expenses surged in Q2 2024 primarily due to increased patient enrollment and associated costs for conducting the Phase 3 clinical program of simufilam. Despite the increase, the company's net income was $0.13 million and diluted EPS was $0.13 for the quarter. This surge in operating expenses was driven by the company's strategic investments in technology enhancements and the training of its employees, which are crucial for supporting the rapid expansion of its customer relationships. |code|Ticker|Name|Date|Total Revenue|Total Operating Expenses|Net Income|market_code| |---|---|---|---|---|---|---|---| |SAVA|SAVA.O|Cassava Sciences|2023 Q3||2.5874E7|-2.5651E7|186| |SAVA|SAVA.O|Cassava Sciences|2023 Q4||2.121E7|-2.0919E7|186| |SAVA|SAVA.O|Cassava Sciences|2024 Q1||1.8158E7|2.5043E7|186| |SAVA|SAVA.O|Cassava Sciences|2024 Q2||5.9086E7|6155000|186| |code|Ticker|Name|Date|Total Revenue|Diluted EPS|market_code| |---|---|---|---|---|---|---| |SAVA|SAVA.O|Cassava Sciences|2023 Q3||-0.61|186| |SAVA|SAVA.O|Cassava Sciences|2024 Q1||-0.43|186| |SAVA|SAVA.O|Cassava Sciences|2024 Q2||0.13|186|