Cassava Sciences has released an open letter from Executive Chairman Rick Barry, detailing the company's recent change in leadership and its commitment to its mission of developing an effective treatment for Alzheimer's disease. Barry emphasized his personal connection to the cause, citing a friend's father who suffered from the disease, which deeply impacted him and influenced his decision to devote his time to Cassava's mission.
Barry also drew parallels to his previous commitment to Sarepta, a company focused on treating Duchenne muscular dystrophy, highlighting the importance of putting patients first and the significant impact such treatments can have on their lives.
The letter also provided insights into Cassava's clinical trials, particularly its phase 3 program for the product candidate simufilam, which is expected to have the first trial results by December 2024 and the second trial concluding by June 2025. Barry expressed optimism about the potential of simufilam, referencing the encouraging results from the 24-month open-label phase 2 clinical safety trial, which reported stable cognition in Alzheimer's disease patients with mild dementia.
Additionally, the letter highlighted the company's commitment to scientific rigor, honest transparency, and running rigorous clinical trials. The phase 3 program is being executed by premier research, a leading contract research organization, and the trial results will be handled by Pentara Corporation, known for its expertise in biostatistics in Alzheimer's trials.
Barry also praised the dedication of Cassava's team, emphasizing their commitment to improving the lives of Alzheimer's patients and debunking the popular notion of demonizing individuals in the pharmaceutical and biotech industry. He expressed his intention to introduce some of the dedicated team members to the community in the coming months.
Today the company's shares have moved 27.1% to a price of $12.81. Check out the company's full 8-K submission here.
