Cassava Sciences Reveals Implementing Cost Curtailment Including Workforce Reduction Of Approximately 33%

Benzinga · 5d ago

The Company today announced that it is reducing its workforce by 10 employees, or approximately 33%, in the first quarter of 2025, as well as continuing strategic expense management efforts.

Expense reductions include halting the planned biomarker analysis of additional plasma samples from prior Phase 2 studies. The Company estimates that it will incur approximately $0.4 million of one-time costs in Q1 2025 related to the workforce reduction.

The Company's unaudited cash and cash equivalents balance as of December 31, 2024 was approximately $128.6 million.