Cassava Sciences Inc /zigman2/quotes/204212356/composite SAVA +0.42% engages in the development of novel drugs and diagnostics.
The company focuses on developing product candidates intended for the treatment of Alzheimer's disease, including PTI-125 and PTI-125Dx.
Cassava Sciences Inc /zigman2/quotes/204212356/composite SAVA +0.42% recently released a statement regarding plasma p-tau analysis from a previously disclosed randomized, controlled Phase 2b clinical study in patients with Alzheimer's disease. For this study, Cassava Sciences contracted with Quanterix Corp., a highly regarded, independent laboratory, to perform sample testing on blinded samples.
According to the company, the Phase 2b clinical study was conducted by Cassava Sciences. Quanterix' sole responsibility with regard to this clinical study was to perform sample testing, specifically, to measure levels of p-tau in plasma samples collected from study subjects. "To ensure data integrity, it is standard industry practice to keep separate the people who generate the data from the people who analyze the data," said Remi Barbier, President & CEO. "That certainly was the case here. Anything different is a distortion of the facts."
Even in light of this news, SAVA has had a rough past week of trading action, with shares sinking something like -18% in that time. That said, chart support is nearby, and we may be in the process of constructing a nice setup for some movement back the other way.
Cassava Sciences Inc /zigman2/quotes/204212356/composite SAVA +0.42% had no reported sales in its last quarterly financial data. In addition, the company has a strong balance sheet, with cash levels exceeding current liabilities ($278.3M against $4.6M).
Other interesting names in the space include Dynavax Technologies Corporation /zigman2/quotes/203017054/composite DVAX +3.60% , Intercept Pharmaceuticals Inc /zigman2/quotes/202434567/composite ICPT +7.96% , and ImmunoGen, Inc. /zigman2/quotes/208003500/composite IMGN +0.46% .
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