Cassava Sciences Added to Russell Indexes and Provides Phase 2b Study Update

AUSTIN, Texas, June 16, 2020 (GLOBE NEWSWIRE) -- Cassava Sciences, Inc. (Nasdaq:SAVA), a clinical-stage biotechnology company focused on Alzheimer’s disease, today announced that the Company will be added to the Russell 2000 and Russell 3000 Indexes, effective after the close of the U.S. markets on Friday, June 26, 2020. These indexes provide institutional investors and other market participants with exposure to the performance of certain segments of the U.S. stock market.

“We are pleased Cassava Sciences is being added to these stock market indexes and are looking forward to building further awareness with the investor community about our focus on Alzheimer’s disease,” said Remi Barbier, President & CEO. “In addition, we look forward to announcing comprehensive study results from our Phase 2b study in approximately Q3 this year.”

Phase 2b Study Update
In Q2 2020, Cassava Sciences completed a double-blind, randomized, placebo-controlled study of PTI-125 in patients with mild-to-moderate Alzheimer’s disease (N=64). This Phase 2b study was substantially funded by a research grant award from the National Institutes of Health (NIH). Top-line results from certain cerebrospinal (CSF) biomarkers were reported May 15, 2020.

The Company is now conducting a more comprehensive analysis of clinical study results, including underlying data from lymphocyte, plasma and CSF samples from study participants. All bioanalyses are being conducted by an outside lab under blinded conditions. The Company is also evaluating the effects of PTI-125 on cognition in this study. Cassava Sciences expects to announce comprehensive study results from its Phase 2b study approximately Q3 2020.

An on-going, open-label study of PTI-125 in patients with mild-to-moderate Alzheimer’s disease continues to see strong interest from patients and physicians. The study is substantially funded by a research grant award from NIH.

About PTI-125
Cassava Sciences’ lead therapeutic product candidate is for the treatment of Alzheimer’s disease. PTI-125 is a proprietary, small molecule (oral) drug that restores the normal shape and function of altered filamin A (FLNA), a scaffolding protein, in the brain. Altered FLNA in the brain disrupts the normal function of neurons, leading to Alzheimer’s pathology, neurodegeneration and neuroinflammation. The underlying science is published in peer-reviewed scientific journals, including Journal of Neuroscience, Neurobiology of Aging, Journal of Biological Chemistry and Journal of Prevention of Alzheimer’s Disease. The Company is also developing an investigational diagnostic, called SavaDx, to detect Alzheimer’s disease with a simple blood test.