Stock Alert: Cassava Sciences To Report Q4 Results Today

(RTTNews) - Cassava Sciences, Inc. (SAVA), a clinical-stage biotechnology company, that develops drugs for nervous system disorders, is scheduled to report its fourth-quarter results today, March 23.

On average, analysts polled by Thomson Reuters expect the company to report loss of $0.13 per share.

In the third-quarter, the company had a positive earnings surprise of $0.04 loss per share compared with loss per share of $0.13 during the corresponding period last year.

The company's lead drug candidate is PTI-125 proposed for the treatment of Alzheimer's disease is in phase IIb study. Cassava expects to announce top-line results by mid-year 2020.

Cassava is also developing PTI-125Dx, a blood-based diagnostic to detect and monitor Alzheimer's disease.

The company, as a rule, gives updates on clinical trials during quarterly results.

Cassava Sciences ended the third quarter with $17.8 million of cash and equivalents, and no debt.

SAVA was down $0.36 or 8.51% on March 20, before closing at $3.87. It has traded in the range of $1.00- $10.95 in the last 52-weeks.