Cassava Sciences Shifts Focus to TSC-Related Epilepsy, Announces Leadership Appointments and Yale License Agreement

Cassava Sciences has shifted its focus to developing simufilam for TSC-related epilepsy after discontinuing its Alzheimer's disease program. The company reported a net loss of $23.4 million in Q1 2025, with a cash and cash equivalents balance of $117.3 million. Cassava Sciences plans to initiate clinical trials for simufilam in TSC-related epilepsy by mid-2026, supported by a strong financial position and strategic collaborations.

Cassava Sciences, Inc. (NASDAQ: SAVA), a clinical-stage biotechnology company, has shifted its focus to developing simufilam for TSC-related epilepsy following the discontinuation of its Alzheimer's disease program. The company reported a net loss of $23.4 million in the first quarter of 2025, with a cash and cash equivalents balance of $117.3 million at March 31, 2025. Cassava Sciences plans to initiate clinical trials for simufilam in TSC-related epilepsy by mid-2026, supported by a strong financial position and strategic collaborations.

In its latest financial report, Cassava Sciences highlighted that its license agreement with Yale University for intellectual property rights to potential treatments for certain rare diseases, including TSC-related epilepsy, has positioned the company to advance the development of simufilam. The appointments of Dr. Angélique Bordey as Senior Vice President (SVP), Neuroscience, and Dr. Jack Moore as SVP, Clinical Development, further strengthen Cassava's team and capabilities in this new therapeutic area.

The company's financial results for Q1 2025 show a net loss of $23.4 million, compared to a net income of $25.0 million for the same period in 2024. The net cash used in operations was $11.3 million during the first quarter, with a significant portion attributed to the conclusion of Phase 3 trials in Alzheimer's disease. Research and development (R&D) expenses were $13.7 million, a 16% decrease from $16.2 million in the same period in 2024, primarily due to the discontinuation of clinical trials in Alzheimer's disease.

General and administrative (G&A) expenses were $10.9 million, an increase from $3.7 million in the same period in 2024, primarily due to legal-related expenses. Cassava Sciences expects net cash used in operations for the first half of 2025 to be $16 to $20 million, consistent with previous guidance.

Cassava Sciences remains committed to its mission of developing novel medicines for central nervous system diseases while maintaining strategic expense management. The company looks forward to updating investors on its progress in the coming quarters.

References:

[1] https://www.biospace.com/press-releases/cassava-reports-q1-2025-financials-results-provides-business-update