Cassava sciences reports third quarter 2021 financial results

Austin, texas, nov. 10, 2021 (globe newswire) -- cassava sciences, inc. (nasdaq: sava), a clinical-stage biotechnology company focused on alzheimer's disease, today announced financial results for the third quarter ended september 30, 2021. net loss for the third quarter ended september 30, 2021, was $9.6 million, or $0.24 per share, compared to a net loss of $1.4 million, or $0.06 per share, for the same period in 2020. net cash used in operations was $22.2 million during the first nine months of 2021. net cash use for operations for full-year 2021 is expected to be approximately $25 to $30 million, up from previous guidance of $20 to $25 million due to a significant prepayment made to a contract research organization for our phase 3 clinical program with simufilam. an additional $22.0 million was used during the third quarter of 2021 for an all-cash purchase of an office complex in austin, texas, which will serve as the company's future corporate headquarters. cash and cash equivalents were $241.5 million as of september 30, 2021, with no debt.
sava Ratings Summary
sava Quant Ranking