Cassava Sciences ( (SAVA) ) has released its Q2 earnings. Here is a breakdown of the information Cassava Sciences presented to its investors.
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Cassava Sciences, Inc., based in Austin, Texas, is a biotechnology company focused on developing novel treatments for central nervous system disorders, including tuberous sclerosis complex (TSC)-related epilepsy.
In its second quarter of 2025 financial report, Cassava Sciences highlighted significant advancements in its simufilam development program, targeting TSC-related epilepsy. The company also announced the appointment of experienced neuroscience leaders to guide its clinical development strategy.
Key financial metrics revealed a net loss of $44.2 million for the quarter, a stark contrast to the net income of $6.2 million reported in the same period in 2024. The company recorded a $31.25 million estimated loss contingency related to securities litigation. Cassava’s cash and cash equivalents stood at $112.4 million as of June 30, 2025, with no debt, and the company expects cash use in the second half of 2025 to be between $47 to $51 million.
Strategically, Cassava is advancing its simufilam program following positive preclinical results, with plans for a proof-of-concept study in the first half of 2026. The company has also entered into a collaboration with Yale University and appointed Dr. Joseph Hulihan as Chief Medical Officer to enhance its clinical development efforts.
Looking ahead, Cassava Sciences remains focused on its simufilam development for TSC-related epilepsy, with preparations underway for upcoming clinical studies. The management’s outlook suggests continued investment in research and development, despite the financial challenges posed by ongoing litigation.