Cassava sciences announces $50 million registered direct offering of common stock

Austin, texas, nov. 18, 2022 (globe newswire) -- cassava sciences, inc. (nasdaq: sava) (the “company” or “cassava sciences”), a clinical-stage biotechnology company focused on alzheimer's disease, today announced that it has entered into a definitive agreement with several healthcare-focused and other institutional investors for the purchase of 1,666,667 shares of its common stock, at a purchase price of $30 per share, for gross proceeds of approximately $50 million, in a registered direct offering. the closing of the offering is expected to occur on or about november 22, 2022, subject to the satisfaction of customary closing conditions.
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