Cassava Sciences, Inc. (NASDAQ: SAVA) has appointed Richard (Rick) Barry as its CEO, separating the positions of CEO and Chairman by appointing Claude Nicaise, M.D. as Chairman. Dr. Nicaise has held clinical and regulatory leadership roles resulting in 14 new drug approvals in various disease areas, including neuroscience.
The company's first phase 3 trial is expected to read out by year-end 2024, with 804 patients randomized 1:1 between simufilam and placebo. Additionally, top-line results for the second phase 3 trial of 1,125 patients (randomized 1:1:1 between two dose levels of simufilam and placebo) are expected by mid-2025.
Alzheimer's disease affects an estimated 6.7 million Americans aged 65 and older today, and this number could grow to 13.8 million by 2060. The disease remains the fifth-leading cause of death among Americans aged 65 and older, with more than 11 million family members and other unpaid caregivers providing an estimated 18 billion hours of care to people with Alzheimer's or other dementias in 2022.
Cassava Sciences' focus on developing potentially effective treatments for Alzheimer's disease aligns with its mission to detect and treat neurodegenerative diseases. The company's dedication to improving the lives of Alzheimer’s patients and their families is evident in its commitment to putting patients first. As a result of these announcements, the company's shares have moved -2.3% on the market, and are now trading at a price of $26.29. Check out the company's full 8-K submission here.
