Bob Knights Liver said:
Anyone else watching SAVA for signs of a bottom? I still haven't fought through that material enough to figure out what caused the plummet.
Here's my take:
at a top level, they didn't have any news. Basically, results are a long way off.
The earliest catalyst is 12 month open label data to be released by the end of the year.
The larger 52 week FDA approved study won't have results until the first half of 2023, and there's a second study that won't be completed until late 2023 or later as they don't have enough people enrolled yet.
They also made some statement that while the previously released data looks good, it's no guarantee that the FDA will ultimately approve the drug.
Finally, they talked about the need to issue as much as five million more shares over the coming years, largely related to executive and employee compensation.
Honestly, I have no clue why they did this.
They did mention that another university had confirmed the enzyme they targeting in the brain (drawing a blank on the name) is associated with Alzheimer's. The cynic in me says they wanted to get this out there - could be that CUNY is going to come back and say that professor on staff there who is associated with Cassava's research has been invalidated?
I just can't comprehend why they did this unless they are trying to get ahead of some bad news coming. There was no positive news to share, and they said they wouldn't be releasing any interim results of the big 52 week study until it's completed early next year.
To top it off, it looked like a clown presentation. It was supposed to be a fireside chat and then the video conference was Remy in front of this cheap wood podium with a Cassava sign slapped on the wall behind him, looked super amateurish.