$SAVA
CASSAVA SCIENCES INC Stock $sava

$sava Overview Financials Valuation SEC Filings Company Website

2024 Q2 Form 10-Q Financial Statement

#000143774924016040 Filed on May 10, 2024

Income Statement

Concept	2024 Q2	2024 Q1	2023 Q1
Revenue	$0.00	$0.00	$0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$46.20M	$3.701M	$4.392M
YoY Change	1113.34%	-15.73%	50.67%
% of Gross Profit
Research & Development	$15.20M	$16.23M	$22.12M
YoY Change	-39.13%	-26.61%	48.4%
% of Gross Profit
Depreciation & Amortization	$244.0K	$250.0K	$272.0K
YoY Change	-10.29%	-8.09%	52.81%
% of Gross Profit
Operating Expenses	$61.40M	$19.93M	$26.51M
YoY Change	113.37%	-24.81%	48.77%
Operating Profit	-$61.40M	-$19.93M	-$26.51M
YoY Change	113.37%	-24.81%	48.77%
Interest Expense	$2.316M	$1.776M	$2.051M
YoY Change	5.37%	-13.41%	6516.13%
% of Operating Profit
Other Income/Expense, Net	$99.00K	$160.0K	$190.0K
YoY Change	-51.23%	-15.79%	-27.76%
Pretax Income	$6.155M	$25.04M	-$24.27M
YoY Change	-123.34%	-203.18%	38.48%
Income Tax	$0.00	$0.00	$0.00
% Of Pretax Income	0.0%	0.0%
Net Earnings	$6.155M	$25.04M	-$24.27M
YoY Change	-123.34%	-203.18%	38.48%
Net Earnings / Revenue
Basic Earnings Per Share	$0.13	$0.58	-$0.58
Diluted Earnings Per Share	$0.13	-$0.43	-$0.58
COMMON SHARES
Basic Shares Outstanding	47.98M	43.23M	41.74M
Diluted Shares Outstanding	46.20M	44.10M	41.74M

Balance Sheet

Concept	2024 Q2	2024 Q1	2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$207.3M	$124.2M	$187.5M
YoY Change	23.07%	-33.76%	-10.6%
Cash & Equivalents	$207.3M	$124.2M	$187.5M
Short-Term Investments
Other Short-Term Assets	$161.0K	$218.0K	$7.532M
YoY Change	-97.36%	-97.11%	-39.78%
Inventory
Prepaid Expenses
Receivables	$1.433M	$1.000M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$222.1M	$134.0M	$195.0M
YoY Change	27.27%	-31.28%	-12.24%
LONG-TERM ASSETS
Property, Plant & Equipment	$21.36M	$21.60M	$22.61M
YoY Change	-4.32%	-4.45%	8.37%
Goodwill
YoY Change
Intangibles	$82.00K	$115.0K	$503.0K
YoY Change	-78.81%	-77.14%	-46.49%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets	$21.45M	$21.72M	$23.11M
YoY Change	-5.59%	-6.03%	5.1%
TOTAL ASSETS
Total Short-Term Assets	$222.1M	$134.0M	$195.0M
Total Long-Term Assets	$21.45M	$21.72M	$23.11M
Total Assets	$243.6M	$155.7M	$218.1M
YoY Change	23.48%	-28.61%	-10.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$52.55M	$9.603M	$8.242M
YoY Change	408.34%	16.51%	147.36%
Accrued Expenses	$1.814M	$2.025M	$5.276M
YoY Change	-75.03%	-61.62%	80.38%
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	$54.59M	$77.12M	$13.91M
YoY Change	205.08%	454.47%	104.88%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change
Other Long-Term Liabilities			$197.0K
YoY Change			1.55%
Total Long-Term Liabilities	$0.00	$0.00	$197.0K
YoY Change		-100.0%	1.55%
TOTAL LIABILITIES
Total Short-Term Liabilities	$54.59M	$77.12M	$13.91M
Total Long-Term Liabilities	$0.00	$0.00	$197.0K
Total Liabilities	$54.59M	$77.12M	$14.11M
YoY Change	205.08%	446.72%	98.76%
SHAREHOLDERS EQUITY
Retained Earnings	-$349.6M	-$355.7M	-$307.8M
YoY Change	4.61%	15.56%	36.92%
Common Stock	$48.00K	$43.00K	$42.00K
YoY Change	14.29%	2.38%	5.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$189.0M	$78.60M	$204.0M
YoY Change
Total Liabilities & Shareholders Equity	$243.6M	$155.7M	$218.1M
YoY Change	23.48%	-28.61%	-10.68%

Cashflow Statement

Concept	2024 Q2	2024 Q1	2023 Q1
OPERATING ACTIVITIES
Net Income	$6.155M	$25.04M	-$24.27M
YoY Change	-123.34%	-203.18%	38.48%
Depreciation, Depletion And Amortization	$244.0K	$250.0K	$272.0K
YoY Change	-10.29%	-8.09%	52.81%
Cash From Operating Activities	-$18.24M	-$19.13M	-$13.26M
YoY Change	-8.45%	44.3%	-43.67%
INVESTING ACTIVITIES
Capital Expenditures	$29.00K	$0.00	$357.0K
YoY Change	-583.33%	-100.0%	-16.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities	-$29.00K	$0.00	-$357.0K
YoY Change	-583.33%	-100.0%	-16.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	101.4M	$22.16M	64.00K
YoY Change	11305.17%	34525.0%	-69.67%
NET CHANGE
Cash From Operating Activities	-18.24M	-$19.13M	-13.26M
Cash From Investing Activities	-29.00K	$0.00	-357.0K
Cash From Financing Activities	101.4M	$22.16M	64.00K
Net Change In Cash	83.12M	$3.033M	-13.55M
YoY Change	-536.82%	-122.39%	-42.94%
FREE CASH FLOW
Cash From Operating Activities	-$18.24M	-$19.13M	-$13.26M
Capital Expenditures	$29.00K	$0.00	$357.0K
Free Cash Flow	-$18.27M	-$19.13M	-$13.61M
YoY Change	-8.27%	40.52%	-43.18%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2024Q1	dei	Amendment Flag AmendmentFlag	false
CY2024Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2024Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2024Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2024
CY2024Q1	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2023Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2024Q1	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2023Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2024Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000
CY2023Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000
CY2024Q1	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2024Q1	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0
CY2023Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2023Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0
CY2024Q1	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2023Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2024Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	120000000
CY2023Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	120000000
CY2024Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	43248416
CY2024Q1	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	43248416
CY2023Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	42236919
CY2023Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	42236919
CY2024Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0	usd
CY2024Q1	ecd	Rule10b51 Arr Adopted Flag Rule10b51ArrAdoptedFlag	false
CY2024Q1	ecd	Non Rule10b51 Arr Adopted Flag NonRule10b51ArrAdoptedFlag	false
CY2024Q1	ecd	Rule10b51 Arr Trmntd Flag Rule10b51ArrTrmntdFlag	false
CY2024Q1	ecd	Non Rule10b51 Arr Trmntd Flag NonRule10b51ArrTrmntdFlag	false
CY2024Q1	dei	Document Type DocumentType	10-Q
CY2024Q1	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2024Q1	dei	Document Period End Date DocumentPeriodEndDate	2024-03-31
CY2024Q1	dei	Document Transition Report DocumentTransitionReport	false
CY2024Q1	dei	Entity File Number EntityFileNumber	000-29959
CY2024Q1	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2024Q1	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	91-1911336
CY2024Q1	dei	Entity Address Address Line1 EntityAddressAddressLine1	6801 N. Capital of Texas Highway, Building 1; Suite 300
CY2024Q1	dei	Entity Address City Or Town EntityAddressCityOrTown	Austin
CY2024Q1	dei	Entity Address State Or Province EntityAddressStateOrProvince	TX
CY2024Q1	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	78731
CY2024Q1	dei	City Area Code CityAreaCode	512
CY2024Q1	dei	Local Phone Number LocalPhoneNumber	501-2444
CY2024Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2024Q1	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2024Q1	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
CY2024Q1	dei	Entity Small Business EntitySmallBusiness	false
CY2024Q1	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2024Q1	dei	Entity Shell Company EntityShellCompany	false
CY2024Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	47976166
CY2024Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	124169000	usd
CY2023Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	121136000	usd
CY2024Q1	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	9830000	usd
CY2023Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	8497000	usd
CY2024Q1	us-gaap	Assets Current AssetsCurrent	133999000	usd
CY2023Q4	us-gaap	Assets Current AssetsCurrent	129633000	usd
CY2024Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	21604000	usd
CY2023Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	21854000	usd
CY2024Q1	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	115000	usd
CY2023Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	176000	usd
CY2024Q1	us-gaap	Assets Assets	155718000	usd
CY2023Q4	us-gaap	Assets Assets	151663000	usd
CY2024Q1	us-gaap	Accounts Payable And Other Accrued Liabilities Current AccountsPayableAndOtherAccruedLiabilitiesCurrent	9603000	usd
CY2023Q4	us-gaap	Accounts Payable And Other Accrued Liabilities Current AccountsPayableAndOtherAccruedLiabilitiesCurrent	10573000	usd
CY2024Q1	sava	Accrued Development Expense Current AccruedDevelopmentExpenseCurrent	1797000	usd
CY2023Q4	sava	Accrued Development Expense Current AccruedDevelopmentExpenseCurrent	3037000	usd
CY2024Q1	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	228000	usd
CY2023Q4	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	200000	usd
CY2024Q1	us-gaap	Derivative Liabilities Current DerivativeLiabilitiesCurrent	65368000	usd
CY2023Q4	us-gaap	Derivative Liabilities Current DerivativeLiabilitiesCurrent	0	usd
CY2024Q1	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	125000	usd
CY2023Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	385000	usd
CY2024Q1	us-gaap	Liabilities Current LiabilitiesCurrent	77121000	usd
CY2023Q4	us-gaap	Liabilities Current LiabilitiesCurrent	14195000	usd
CY2024Q1	us-gaap	Preferred Stock Value PreferredStockValue	0	usd
CY2023Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	usd
CY2024Q1	us-gaap	Common Stock Value CommonStockValue	43000	usd
CY2023Q4	us-gaap	Common Stock Value CommonStockValue	42000	usd
CY2024Q1	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	434280000	usd
CY2023Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	518195000	usd
CY2024Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-355726000	usd
CY2023Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-380769000	usd
CY2024Q1	us-gaap	Stockholders Equity StockholdersEquity	78597000	usd
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	137468000	usd
CY2024Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	155718000	usd
CY2023Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	151663000	usd
CY2024Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	16233000	usd
CY2023Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	22120000	usd
CY2024Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	3701000	usd
CY2023Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	4392000	usd
CY2024Q1	us-gaap	Operating Expenses OperatingExpenses	19934000	usd
CY2023Q1	us-gaap	Operating Expenses OperatingExpenses	26512000	usd
CY2024Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-19934000	usd
CY2023Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-26512000	usd
CY2024Q1	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	1776000	usd
CY2023Q1	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	2051000	usd
CY2024Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	160000	usd
CY2023Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	190000	usd
CY2024Q1	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	-43041000	usd
CY2023Q1	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	-0	usd
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	25043000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-24271000	usd
CY2024Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	43001000
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	41739000
CY2024Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.58
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.58
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	25043000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-24271000	usd
CY2024Q1	us-gaap	Preferred Stock Dividends And Other Adjustments PreferredStockDividendsAndOtherAdjustments	43792000	usd
CY2023Q1	us-gaap	Preferred Stock Dividends And Other Adjustments PreferredStockDividendsAndOtherAdjustments	-0	usd
CY2024Q1	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-18749000	usd
CY2023Q1	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-24271000	usd
CY2024Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	44102000
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	41739000
CY2024Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.43
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.58
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	227539000	usd
CY2023Q1	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	64000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-24271000	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	204005000	usd
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	137468000	usd
CY2024Q1	us-gaap	Adjustments To Additional Paid In Capital Warrant Issued AdjustmentsToAdditionalPaidInCapitalWarrantIssued	113363000	usd
CY2024Q1	sava	Stock Issued During Period Value Warrant Exercises StockIssuedDuringPeriodValueWarrantExercises	22160000	usd
CY2024Q1	sava	Adjustments To Additional Paid In Capital Derecognition Of Warrant Liabilities Upon Exercise Of Warrants AdjustmentsToAdditionalPaidInCapitalDerecognitionOfWarrantLiabilitiesUponExerciseOfWarrants	4954000	usd
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	25043000	usd
CY2024Q1	us-gaap	Stockholders Equity StockholdersEquity	78597000	usd
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	25043000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-24271000	usd
CY2024Q1	us-gaap	Share Based Compensation ShareBasedCompensation	2335000	usd
CY2023Q1	us-gaap	Share Based Compensation ShareBasedCompensation	673000	usd
CY2024Q1	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	-43041000	usd
CY2023Q1	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	0	usd
CY2024Q1	us-gaap	Depreciation Depreciation	250000	usd
CY2023Q1	us-gaap	Depreciation Depreciation	272000	usd
CY2024Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	61000	usd
CY2023Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	119000	usd
CY2024Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	1333000	usd
CY2023Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-2679000	usd
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CY2023Q1	sava	Increase Decrease In Operating Lease Right Of Use Assets And Liabilities Net IncreaseDecreaseInOperatingLeaseRightOfUseAssetsAndLiabilitiesNet	17000	usd
CY2024Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-970000	usd
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CY2024Q1	sava	Increase Decrease In Development Expense IncreaseDecreaseInDevelopmentExpense	-1240000	usd
CY2023Q1	sava	Increase Decrease In Development Expense IncreaseDecreaseInDevelopmentExpense	2996000	usd
CY2024Q1	us-gaap	Increase Decrease In Employee Related Liabilities IncreaseDecreaseInEmployeeRelatedLiabilities	28000	usd
CY2023Q1	us-gaap	Increase Decrease In Employee Related Liabilities IncreaseDecreaseInEmployeeRelatedLiabilities	42000	usd
CY2024Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-260000	usd
CY2023Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-313000	usd
CY2024Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-19127000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-13255000	usd
CY2024Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	-0	usd
CY2023Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	357000	usd
CY2024Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	0	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-357000	usd
CY2024Q1	us-gaap	Proceeds From Warrant Exercises ProceedsFromWarrantExercises	22160000	usd
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CY2024Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	22160000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	64000	usd
CY2024Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	3033000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	-13548000	usd
CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	121136000	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	201015000	usd
CY2024Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	124169000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	187467000	usd
CY2024Q1	sava	Issuance Of Warrants Resulting In Recognition Of Warrant Liabilities IssuanceOfWarrantsResultingInRecognitionOfWarrantLiabilities	113363000	usd
CY2023Q1	sava	Issuance Of Warrants Resulting In Recognition Of Warrant Liabilities IssuanceOfWarrantsResultingInRecognitionOfWarrantLiabilities	0	usd
CY2024Q1	sava	Derecognition Of Warrant Liabilities Through Exercises DerecognitionOfWarrantLiabilitiesThroughExercises	-4954000	usd
CY2023Q1	sava	Derecognition Of Warrant Liabilities Through Exercises DerecognitionOfWarrantLiabilitiesThroughExercises	0	usd
CY2024Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-355700000	usd
CY2024Q1	sava	Prepaid Expenses And Other Current Assets Text Bock PrepaidExpensesAndOtherCurrentAssetsTextBock	<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Note <em style="font: inherit;">3.</em> Prepaid Expenses and Other Current Assets</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:18pt;">Prepaid expenses and other current assets at <em style="font: inherit;"> March 31, 2024</em> and <em style="font: inherit;"> December 31, 2023</em> consisted of the following (in thousands):</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Times New Roman; text-indent: 0px;"> <tbody> <tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"> <td style="font-family: Times New Roman; font-size: 10pt;"> </td> <td style="font-family: Times New Roman; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><em style="font: inherit;">March 31,</em></b></p> </td> <td style="font-family: Times New Roman; font-size: 10pt;"> </td> <td style="font-family: Times New Roman; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><em style="font: inherit;">December 31,</em></b></p> </td> <td style="font-family: Times New Roman; font-size: 10pt;"> </td> </tr> <tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"> <td style="font-family: Times New Roman; font-size: 10pt;"> </td> <td style="font-family: Times New Roman; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><em style="font: inherit;">2024</em></b></p> </td> <td style="font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="font-family: Times New Roman; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><em style="font: inherit;">2023</em></b></p> </td> <td style="font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"> <td style="font-family: Times New Roman; font-size: 10pt; width: 70%;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">Prepaid insurance</p> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">382</td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">759</td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"> <td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">Contract research organization and other deposits</p> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">8,231</td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">6,489</td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"> <td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">Interest receivable</p> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">1,000</td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 12%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; text-align: right;">962</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"> <td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">Other</p> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">218</td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">287</td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"> <td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 9pt;">Total prepaid expenses and other current assets</p> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">9,830</td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">8,497</td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> </tr> </tbody> </table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:18pt;">Contract research organization and other deposits represent cash payments made to vendors in excess of expenses incurred.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
CY2024Q1	us-gaap	Use Of Estimates UseOfEstimates	<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b><i>Use of Estimates</i></b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:18pt;">The Company makes estimates and assumptions in preparing its condensed consolidated financial statements in conformity with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amount of revenue earned and expenses incurred during the reporting period. The Company evaluates its estimates on an ongoing basis, including those estimates related to common stock warrant liabilities, clinical trials and manufacturing agreements. Actual results could differ from these estimates and assumptions.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
CY2024Q1	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	1	pure
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	25043000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-24271000	usd
CY2024Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	43001000
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	41739000
CY2024Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.58
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.58
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	25043000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-24271000	usd
CY2024Q1	us-gaap	Dilutive Securities DilutiveSecurities	-43792000	usd
CY2023Q1	us-gaap	Dilutive Securities DilutiveSecurities	0	usd
CY2024Q1	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-18749000	usd
CY2023Q1	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-24271000	usd
CY2024Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	43001000
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	41739000
CY2024Q1	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	1101000
CY2023Q1	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	0
CY2024Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	44102000
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	41739000
CY2024Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.43
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.58
CY2024Q1	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P0Y2M12D
CY2024Q1	us-gaap	Proceeds From Insurance Settlement Operating Activities ProceedsFromInsuranceSettlementOperatingActivities	3000000	usd
CY2023Q1	us-gaap	Proceeds From Insurance Settlement Operating Activities ProceedsFromInsuranceSettlementOperatingActivities	100000	usd
CY2024Q1	us-gaap	Prepaid Insurance PrepaidInsurance	382000	usd
CY2023Q4	us-gaap	Prepaid Insurance PrepaidInsurance	759000	usd
CY2024Q1	us-gaap	Deposit Contracts Assets DepositContractsAssets	8231000	usd
CY2023Q4	us-gaap	Deposit Contracts Assets DepositContractsAssets	6489000	usd
CY2024Q1	us-gaap	Interest Receivable Current InterestReceivableCurrent	1000000	usd
CY2023Q4	us-gaap	Interest Receivable Current InterestReceivableCurrent	962000	usd
CY2024Q1	us-gaap	Other Assets Current OtherAssetsCurrent	218000	usd
CY2023Q4	us-gaap	Other Assets Current OtherAssetsCurrent	287000	usd
CY2024Q1	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	9830000	usd
CY2023Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	8497000	usd
CY2024Q1	us-gaap	Other Nonoperating Income OtherNonoperatingIncome	403000	usd
CY2023Q1	us-gaap	Other Nonoperating Income OtherNonoperatingIncome	557000	usd
CY2024Q1	us-gaap	Other Nonoperating Expense OtherNonoperatingExpense	243000	usd
CY2023Q1	us-gaap	Other Nonoperating Expense OtherNonoperatingExpense	367000	usd
CY2024Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	160000	usd
CY2023Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	190000	usd
CY2024Q1	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	24138000	usd
CY2023Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	24138000	usd
CY2024Q1	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	2534000	usd
CY2023Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	2284000	usd
CY2024Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	21604000	usd
CY2023Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	21854000	usd
CY2024Q1	us-gaap	Depreciation Depreciation	250000	usd
CY2023Q1	us-gaap	Depreciation Depreciation	272000	usd
CY2024Q1	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	1346000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	1346000	usd
CY2024Q1	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	1231000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	1170000	usd
CY2024Q1	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	115000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	176000	usd
CY2024Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	61000	usd
CY2023Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	119000	usd
CY2024Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear	111000	usd
CY2024Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	4000	usd
CY2024Q1	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	115000	usd
CY2023Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	3039029
CY2024Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	3000
CY2024Q1	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	-0
CY2024Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod	-0
CY2024Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	3042029
CY2024Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	15.14
CY2024Q1	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P2Y7M6D
CY2024Q1	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions	21300000	usd
CY2024Q1	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	0
CY2023Q1	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	19017
CY2023Q1	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	64000	usd
CY2024Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	2335000	usd
CY2023Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	673000	usd
CY2023Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0	usd
CY2024Q1	us-gaap	Operating Lease Cost OperatingLeaseCost	0	usd
CY2023Q1	us-gaap	Operating Lease Cost OperatingLeaseCost	24000	usd
CY2024Q1	us-gaap	Operating Lease Payments OperatingLeasePayments	0	usd
CY2023Q1	us-gaap	Operating Lease Payments OperatingLeasePayments	24000	usd
CY2024Q1	us-gaap	Loss Contingency Disclosures LossContingencyDisclosures	<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Note <em style="font: inherit;">11.</em> Contingencies</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 18pt;">The Company is, and from time to time, the Company <em style="font: inherit;"> may </em>become, involved in litigation or other legal proceedings and claims, including U.S. government inquiries, investigations and Citizen Petitions submitted to FDA. In addition, the Company has received, and from time to time <em style="font: inherit;"> may </em>receive, inquiries from government authorities relating to matters arising from the ordinary course of business. The outcome of these proceedings is inherently uncertain. Regardless of outcome, legal proceedings can have an adverse impact on the Company because of defense and settlement costs, diversion of management resources, and other factors. At this time, <em style="font: inherit;">no</em> assessment can be made as to their likely outcome or whether the outcome will be material to the Company. The Company believes that its total provisions for legal matters are adequate based upon currently available information.</p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -9pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -1pt;"><i>Government Investigations</i></p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -9pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 18pt;">On <em style="font: inherit;"> November 15, 2021, </em>the Company disclosed that certain government agencies had asked the Company to provide corporate information and documents. These were confidential requests. The Company has been voluntarily cooperating and intends to continue to cooperate with these inquiries. <em style="font: inherit;">No</em> government agency has informed the Company that it has found evidence of research misconduct or wrongdoing by the Company or its officers, employees or directors. <em style="font: inherit;">No</em> government agency has filed any claims or charges relating to these inquiries. We cannot predict the outcome or impact of these ongoing matters, including whether a government agency <em style="font: inherit;"> may </em>pursue an enforcement action against the Company or others.</p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -9pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt;"><i>Securities Class Actions and Shareholder Derivative Actions</i></p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -9pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 18pt;">Between <em style="font: inherit;"> August 27, 2021 </em>and <em style="font: inherit;"> October 26, 2021, </em><span style="-sec-ix-hidden:c112491210">four</span> 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 Citizen Petitions submitted to FDA and allege that various statements made by the defendants regarding simufilam were rendered materially false and misleading. The Citizen Petitions were all 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.</p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -9pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 18pt;">On <em style="font: inherit;"> June 30, 2022, </em>a federal judge consolidated the <span style="-sec-ix-hidden:c112491211">four</span> class action lawsuits into <span style="-sec-ix-hidden:c112491212">one</span> case and appointed a lead plaintiff and a lead counsel. Lead plaintiff filed a consolidated amended complaint on <em style="font: inherit;"> August 18, 2022 </em>on behalf of a putative class of purchasers of the Company’s securities between <em style="font: inherit;"> September 14, 2020 </em>and <em style="font: inherit;"> July 26, 2022. </em>On <em style="font: inherit;"> May 11, 2023, </em>the court dismissed with prejudice plaintiffs’ claims against defendant Nadav Friedmann, PhD, MD, our former Chief Medical Officer and a Company director, who is now deceased, but otherwise denied defendants’ motion to dismiss. Defendants filed an answer to the consolidated amended complaint on <em style="font: inherit;"> July 3, 2023. </em>On <em style="font: inherit;"> February 22, 2024, </em>plaintiffs filed a motion to supplement their complaint to extend the putative class period through <em style="font: inherit;"> October 12, 2023. </em>The Company has opposed that motion.</p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -9pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 18pt;">On <em style="font: inherit;"> November 4, 2021, </em>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. This complaint relies on the allegations made in Citizen Petitions that were submitted to (and subsequently denied by) FDA. The complaint alleges, 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 plaintiff in this derivative case does <em style="font: inherit;">not</em> seek relief against the Company, the Company has certain indemnification obligations to the individual defendants. Between <em style="font: inherit;"> November 4, 2021 </em>and <em style="font: inherit;"> June 20, 2023, </em>four additional shareholder derivative actions were filed alleging substantially similar claims, <span style="-sec-ix-hidden:c112491215">two</span> in the U.S. District Court for the Western District of Texas, <span style="-sec-ix-hidden:c112491216">one</span> in Texas state court (Travis County District Court) and one in the Delaware Court of Chancery. On <em style="font: inherit;"> July 5, 2022, </em>the <span style="-sec-ix-hidden:c112491218">three</span> federal court actions were consolidated into a single action. All of the foregoing actions are currently stayed pending further developments in the consolidated securities action described above. On <em style="font: inherit;"> November 9, 2023, </em>another shareholder derivative action alleging substantially similar claims was filed in the U.S. District Court for the Western District of Texas. The parties to that case expect that it will be consolidated into the existing consolidated federal court shareholder derivative action.</p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 18pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 18pt;">On <em style="font: inherit;"> February 2, 2024, </em>a putative class action lawsuit was filed, purportedly on behalf of the Company, alleging violations of the federal securities law by the Company and certain named officers. The complaint relies on an <em style="font: inherit;"> October 12, 2023 </em>article that describes a purported leaked report of alleged scientific misconduct by a scientific collaborator of the Company at City University of New York. The complaint alleges that various statements made by the defendants regarding simufilam were rendered materially false and misleading by this article. The action was filed in the U.S. District Court for the Northern District of Illinois. The complaint seeks unspecified compensatory damages and other relief on behalf of a purported class of purchasers of the Company’s securities between <em style="font: inherit;"> August 18, 2022 </em>and <em style="font: inherit;"> October 12, 2023.</em></p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -9pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 18pt;">Beginning on <em style="font: inherit;"> March 18, 2024, </em>two related shareholder derivative actions were filed, purportedly on behalf of the Company, in the U.S. District Court for the Northern District of Illinois, 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. The complaints rely on an <em style="font: inherit;"> October 12, 2023 </em>article that describes a purported leaked report of alleged scientific misconduct by a scientific collaborator of the Company at City University of New York. The complaints 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 cases seek, 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 this derivative cases do <em style="font: inherit;">not</em> seek relief against the Company, the Company has certain indemnification obligations to the individual defendants.</p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -9pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 18pt;">The Company believes the foregoing 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.</p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -9pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 18pt;">On <em style="font: inherit;"> August 19, 2022, </em>a shareholder derivative action was filed, purportedly on behalf of the Company, in the Delaware Court of Chancery, asserting claims under state fiduciary duty laws against certain named officers and members of the Company’s Board. The complaint alleges, among other things, that the individual defendants breached their fiduciary duties by approving the <em style="font: inherit;">2020</em> Cash Incentive Bonus Plan in <em style="font: inherit;"> August 2020. </em>The complaints seek unspecified compensatory damages and other relief. On <em style="font: inherit;"> January 6, 2023, </em>the plaintiffs filed an amended complaint. Defendants filed a partial answer to the amended complaint on <em style="font: inherit;"> March 10, 2023, </em>and moved to partially dismiss the amended complaint on <em style="font: inherit;"> March 14, 2023.</em></p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 18pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 18pt;">On <em style="font: inherit;"> January 25, 2024, </em>the parties entered into a binding settlement term sheet with respect to this action. The settlement is subject to certain conditions, including the filing of a Stipulation of Settlement and final court approval. The proposed settlement resolves the claims asserted against the Company and the individual defendants and would contain provisions that the settlement does <em style="font: inherit;">not</em> constitute an admission, concession, or finding of any fault, liability, or wrongdoing of any kind by any defendant. There can be <em style="font: inherit;">no</em> assurance that the final settlement agreement will be executed or that such agreement will be approved by the court. </p>

Files In Submission

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$SAVA
CASSAVA SCIENCES INC Stock $sava

2024 Q2 Form 10-Q Financial Statement

#000143774924016040 Filed on May 10, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$SAVA CASSAVA SCIENCES INC Stock $sava

2024 Q2 Form 10-Q Financial Statement

#000143774924016040 Filed on May 10, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$SAVA
CASSAVA SCIENCES INC Stock $sava