$SAVA
CASSAVA SCIENCES INC

2022 Q1 Form 10-K Financial Statement

#000106953022000011 Filed on March 01, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.915M $4.102M $8.055M
YoY Change 191.5% 269.55% 115.37%
% of Gross Profit
Research & Development $14.91M $5.935M
YoY Change
% of Gross Profit
Depreciation & Amortization $178.0K $313.0K $310.0K
YoY Change 17700.0% 1309.09%
% of Gross Profit
Operating Expenses $17.82M $14.44M $32.87M
YoY Change 404.42% 451.3% 409.9%
Operating Profit -$17.82M -$32.87M
YoY Change 404.42% 409.9%
Interest Expense $31.00K $14.00K $49.00K
YoY Change 210.0% 40.0% -55.45%
% of Operating Profit
Other Income/Expense, Net $263.0K $258.0K $434.0K
YoY Change
Pretax Income -$17.53M -$14.17M -$32.38M
YoY Change 396.52% 440.92% 411.61%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$17.53M -$14.17M -$32.39M
YoY Change 397.08% 440.92% 411.29%
Net Earnings / Revenue
Basic Earnings Per Share -$0.82
Diluted Earnings Per Share -$438.6K -$354.6K -$821.9K
COMMON SHARES
Basic Shares Outstanding 40.02M 40.02M 39.41M
Diluted Shares Outstanding 39.96M

Balance Sheet

Concept 2022 Q1 2021 Q4 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $209.7M $233.4M $233.4M
YoY Change -25.69% 149.67% 149.67%
Cash & Equivalents $209.7M $233.4M $233.4M
Short-Term Investments
Other Short-Term Assets $12.51M $11.05M $11.05M
YoY Change 694.6% 2163.32% 2109.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $222.2M $244.5M $244.5M
YoY Change -21.7% 160.1% 160.09%
LONG-TERM ASSETS
Property, Plant & Equipment $20.86M $20.62M $20.83M
YoY Change 208530.0% 187318.18% 6842.0%
Goodwill
YoY Change
Intangibles $940.0K $1.075M
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $399.0K $399.0K
YoY Change
Total Long-Term Assets $21.99M $22.30M $22.30M
YoY Change 6484.13% 7187.58% 7333.33%
TOTAL ASSETS
Total Short-Term Assets $222.2M $244.5M $244.5M
Total Long-Term Assets $21.99M $22.30M $22.30M
Total Assets $244.2M $266.8M $266.8M
YoY Change -14.05% 182.91% 182.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.332M $7.126M $7.126M
YoY Change 270.22% 682.22% 691.78%
Accrued Expenses $2.925M $2.803M $4.777M
YoY Change 72.06% 289.85% 430.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.789M $12.53M $12.53M
YoY Change 156.19% 572.06% 559.68%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $194.0K $194.0K $333.0K
YoY Change -3.0% 66.5%
Total Long-Term Liabilities $194.0K $194.0K $333.0K
YoY Change -3.0% 66.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.789M $12.53M $12.53M
Total Long-Term Liabilities $194.0K $194.0K $333.0K
Total Liabilities $7.097M $12.87M $12.87M
YoY Change 147.89% 512.71% 512.71%
SHAREHOLDERS EQUITY
Retained Earnings -$224.8M -$207.3M
YoY Change 25.98% 18.51%
Common Stock $40.00K $40.00K
YoY Change 0.0% 14.29%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $237.1M $253.9M $253.9M
YoY Change
Total Liabilities & Shareholders Equity $244.2M $266.8M $266.8M
YoY Change -14.03% 182.91% 182.91%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021
OPERATING ACTIVITIES
Net Income -$17.53M -$14.17M -$32.39M
YoY Change 397.08% 440.92% 411.29%
Depreciation, Depletion And Amortization $178.0K $313.0K $310.0K
YoY Change 17700.0% 1309.09%
Cash From Operating Activities -$23.53M -$7.987M -$30.20M
YoY Change 920.38% 565.58% 461.06%
INVESTING ACTIVITIES
Capital Expenditures $425.0K -$100.0K $22.21M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$425.0K -$100.0K -$22.21M
YoY Change -6270.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $189.8M
YoY Change 170.21%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 211.0K 0.000 192.3M
YoY Change -99.89% -100.0% 154.94%
NET CHANGE
Cash From Operating Activities -23.53M -7.987M -30.20M
Cash From Investing Activities -425.0K -100.0K -22.21M
Cash From Financing Activities 211.0K 0.000 192.3M
Net Change In Cash -23.74M -8.087M 139.9M
YoY Change -112.58% -111.65% 98.7%
FREE CASH FLOW
Cash From Operating Activities -$23.53M -$7.987M -$30.20M
Capital Expenditures $425.0K -$100.0K $22.21M
Free Cash Flow -$23.96M -$7.887M -$52.41M
YoY Change

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12. Contingencies Securities Class Actions and Shareholder Derivative Action Between August 27 and October 26, 2021, four putative class action lawsuits were filed alleging violations of the federal securities laws by the Company and certain named officers. The complaints rely on allegations contained in two Citizen Petitions submitted to FDA, and allege that various statements made by the defendants regarding simufilam were rendered materially false and misleading. The two Citizen Petitions were subsequently denied by FDA. These actions were filed in the U.S. District Court for the Western District of Texas. The complaints seek unspecified compensatory damages and other relief on behalf of a purported class of purchasers of the Company’s securities between September 14, 2020, and August 27, 2021. The Company expects that the cases will be consolidated and that a lead plaintiff and lead counsel will be appointed and thereafter that a consolidated amended complaint will be filed. The Company believes the lawsuit claims are without merit and intends to defend against these lawsuits vigorously. The Company is unable to estimate the possible loss or range of loss, if any, associated with these lawsuits. On November 4, 2021, a related shareholder derivative action was filed, purportedly on behalf of the Company, in the U.S. District Court for the Western District of Texas, asserting claims under the U.S. securities laws and state fiduciary duty laws against certain named officers and the members of the Company’s board of directors. The complaint relies on the allegations made in two Citizen Petitions that were submitted to FDA. The two Citizen Petitions, which were subsequently denied by FDA, allege, among other things, that the individual defendants exposed the Company to unspecified damages and securities law liability by causing it to make materially false and misleading statements, in violation of the U.S. securities laws and in breach of their fiduciary duties to the Company. The derivative case seeks, among other things, to recover unspecified compensatory damages on behalf of the Company arising out of the individual defendant’s alleged wrongful conduct. Although the plaintiffs in the derivative cases does not seek relief against the Company, it has certain indemnification obligations to the individual defendants. Since November 4, 2021, three additional shareholder derivative actions were filed alleging substantially similar claims, two in the U.S. District Court for the Western District of Texas, and one in Texas state court (Travis County District Court). The state court action has been stayed pending the resolution of the motions to dismiss in the securities class actions. The parties to the three federal court actions have filed a motion, which the court has not yet ruled on, to consolidate and stay pending the resolution of motions to dismiss in the securities class actions. The Company is unable to estimate the possible loss or range of loss, if any, associated with these lawsuits.
CY2021 dei Auditor Name
AuditorName
Ernst & Young LLP
CY2021 dei Auditor Location
AuditorLocation
Austin, Texas

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