Cassava Sciences Inc (SAVA) has an InvestorsObserver grade of 61, putting it in the middle of the Biotechnology sector. A score of 61 indicates that Cassava Sciences Inc is more attractive than 61% of similar stocks in its sector.
Even though there are currently 6 million instances of Alzheimer’s disease in the United States alone, and that number is projected to increase to 13 million by 2050, it is still unknown to scientists how the disease manifests to cause the symptoms that it does.
According to current theories, certain variations of the protein beta-amyloid cluster together in the brain’s spaces between neurons, impairing memory and causing Alzheimer’s disease symptoms.
Overall, analysts gave Cassava Sciences Inc a grade of 53, placing it in the top 53% of all rated companies. As an industry, biotechnology ranks 46th out of a total of 148.
There was no debt and $201 million in liquid assets as of December 31st, 2022, down from $233.4 million in the prior year. The November 2022 sale of 1.7 million shares of common stock generated net proceeds of $47.3 million, which was reflected in the company’s cash balance at year’s close.
Our Alzheimer’s disease clinical initiative is the primary driver of our projected $45 million to $50 million net cash used for operations in the first half of 2023.
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