Cassava sciences reports q1 2023 financial results and operating updates

Austin, texas, may 01, 2023 (globe newswire) -- cassava sciences, inc. (nasdaq: sava), a clinical-stage biotechnology company focused on alzheimer's disease, today announced financial results for the first quarter ended march 31, 2023. net loss was $24.3 million, or $0.58 per share, compared to a net loss of $17.5 million, or $0.44 per share, for the same period in 2022. net cash used in operations was $13.3 million during the first quarter of 2023. new guidance for net cash use in first half 2023 is expected to be $30 to $40 million, which is revised downward from our previous guidance of $45 to $50 million, due primarily to the timing of certain clinical payment obligations.
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