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Cassava Sciences (SAVA) to Post Q4 Earnings: What's in Store?
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Cassava Sciences, Inc. (SAVA - Free Report) will provide updates on its pipeline developments when it reports fourth-quarter 2020 results.
The company has a positive earnings surprise history, The average four-quarter earnings surprise was 15.48%. In the last reported quarter, the company delivered an earnings surprise of 14.29%.
Shares of Cassava Sciences have surged 619.4% in the past year compared with the industry’s growth of 4%.
Let's see how things are shaping up for this announcement.
Factors to Consider
Cassava Sciences does not have any marketed drugs in its portfolio and hence, it does not generate any revenues. The company will provide updates on its pipeline in the fourth quarter.
In February 2022, the company announced the successful completion of an end-of-phase II (EOP2) meeting with the FDA for simufilam, its lead drug candidate for the treatment of Alzheimer’s disease. Per the meeting, FDA and Cassava Sciences agreed on key elements of a pivotal phase III program in support of a new drug application (NDA) filing for simufilam in Alzheimer’s disease. Agreements reached during the EOP2 meeting showed a clear path forward for advancing simufilam into phase III studies in the second half of 2021.
The FDA has agreed that the completed phase II program, together with an upcoming phase III program, are sufficient to show evidence of clinical efficacy for simufilam in Alzheimer’s disease. There is also agreement that the use of separate clinical scales to assess cognition (ADAS-cog) and function (ADCS-ADL) are appropriate co-primary endpoints of efficacy. A clinical scale that combines cognition and function, such as iADRS, is a secondary efficacy endpoint.
Cassava Sciences’ phase III study for simufilam consists of two large, double-blind, randomized, placebo-controlled studies of simufilam in patients with mild-to-moderate Alzheimer’s disease dementia.
The first phase III study will evaluate disease-modifying effects in Alzheimer’s disease patients. The goal of this study is to show a slower rate of decline in cognition and daily function in patients treated with simufilam compared to those treated with placebo.
Cassava Sciences’ second phase III study will evaluate symptomatic improvement in Alzheimer’s disease patients. The goal of this study is to show improvement in cognition and daily function in patients treated with simufilam compared to those treated with placebo.
In February 2021, Cassava Sciences announced the results of an interim analysis from an open-label study of simufilam for the treatment of Alzheimer’s disease. Both cognition and behavior scores of patients improved following six months of simufilam treatment, with no safety issues.
We expect the company to provide updates on these in the fourth quarter.
What Our Model Indicates
Our proven model does not conclusively predict an earnings beat for Cassava Sciences this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here as you will see below.
Earnings ESP: Cassava Sciences has an Earnings ESP of 0.00%. Both the Zacks Consensus Estimate and the Most Accurate Estimate stood at a loss of 5 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
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The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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Cassava Sciences (SAVA) to Post Q4 Earnings: What's in Store?
Cassava Sciences, Inc. (SAVA - Free Report) will provide updates on its pipeline developments when it reports fourth-quarter 2020 results.
The company has a positive earnings surprise history, The average four-quarter earnings surprise was 15.48%. In the last reported quarter, the company delivered an earnings surprise of 14.29%.
Shares of Cassava Sciences have surged 619.4% in the past year compared with the industry’s growth of 4%.
Let's see how things are shaping up for this announcement.
Factors to Consider
Cassava Sciences does not have any marketed drugs in its portfolio and hence, it does not generate any revenues. The company will provide updates on its pipeline in the fourth quarter.
In February 2022, the company announced the successful completion of an end-of-phase II (EOP2) meeting with the FDA for simufilam, its lead drug candidate for the treatment of Alzheimer’s disease. Per the meeting, FDA and Cassava Sciences agreed on key elements of a pivotal phase III program in support of a new drug application (NDA) filing for simufilam in Alzheimer’s disease. Agreements reached during the EOP2 meeting showed a clear path forward for advancing simufilam into phase III studies in the second half of 2021.
The FDA has agreed that the completed phase II program, together with an upcoming phase III program, are sufficient to show evidence of clinical efficacy for simufilam in Alzheimer’s disease. There is also agreement that the use of separate clinical scales to assess cognition (ADAS-cog) and function (ADCS-ADL) are appropriate co-primary endpoints of efficacy. A clinical scale that combines cognition and function, such as iADRS, is a secondary efficacy endpoint.
Cassava Sciences’ phase III study for simufilam consists of two large, double-blind, randomized, placebo-controlled studies of simufilam in patients with mild-to-moderate Alzheimer’s disease dementia.
The first phase III study will evaluate disease-modifying effects in Alzheimer’s disease patients. The goal of this study is to show a slower rate of decline in cognition and daily function in patients treated with simufilam compared to those treated with placebo.
Cassava Sciences’ second phase III study will evaluate symptomatic improvement in Alzheimer’s disease patients. The goal of this study is to show improvement in cognition and daily function in patients treated with simufilam compared to those treated with placebo.
In February 2021, Cassava Sciences announced the results of an interim analysis from an open-label study of simufilam for the treatment of Alzheimer’s disease. Both cognition and behavior scores of patients improved following six months of simufilam treatment, with no safety issues.
We expect the company to provide updates on these in the fourth quarter.
What Our Model Indicates
Our proven model does not conclusively predict an earnings beat for Cassava Sciences this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here as you will see below.
Earnings ESP: Cassava Sciences has an Earnings ESP of 0.00%. Both the Zacks Consensus Estimate and the Most Accurate Estimate stood at a loss of 5 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are some biotech stocks that have the right mix of elements to beat on earnings this time around:
Moderna Inc. (MRNA - Free Report) has an Earnings ESP of +0.57% and a Zacks Rank #1.
Castle Biosciences Inc. (CSTL - Free Report) has an Earnings ESP of +54.55 % and a Zacks Rank #3.
Atea Pharmaceuticals Inc. (AVIR - Free Report) has an Earnings ESP of +279.59% and a Zacks Rank #2.
Cassava Sciences, Inc. Price and Consensus
Cassava Sciences, Inc. price-consensus-chart | Cassava Sciences, Inc. Quote
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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