A Business at a Glance
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Cassava Sciences, Inc. is a clinical-stage biotechnology company based in Austin, Texas. Our mission is to detect and treat central nervous system disorders, such as Alzheimer’s disease and Tuberous Sclerosis Complex (TSC)-related epilepsy. Our novel science is based on stabilizing – but not removing – a critical protein in the brain for patients with certain central nervous system disorders, such as Alzheimer’s or TSC. Our lead therapeutic drug candidate, simufilam, was under clinical evaluation for the proposed treatment of Alzheimer’s disease in Phase 3 clinical studies through 2024, when all ongoing clinical trials for simufilam in Alzheimer’s disease were discontinued. We combine innovative technology with new insights in neurobiology to develop novel solutions targeting Alzheimer’s disease, TSC-related epilepsy, and other central nervous system disorders.
| Metric | TTM | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 41M | 11M | 11M | 17M | 21M |
| Net Income | -106M | 32M | -3.4M | -2.6M | -12M | -3.5M |
| EPS | $-2.20 | $4.90 | $-0.56 | $-0.42 | $-1.96 | $-0.56 |
| Free Cash Flow | -84M | -6.9M | -7.2M | -260K | -143K | -15M |
| ROIC | -67.8% | 62.6% | -26.2% | -5.9% | -36.5% | -3.2% |
| Gross Margin | - | - | - | - | - | 0.0% |
| Debt/Equity | 0.00 | - | 3.33 | 1.23 | 2.01 | 0.00 |
| Dividends/Share | $0.00 | - | - | - | - | $0.00 |
| Operating Income | -111M | 31M | -3.9M | -3.5M | -14M | -6.8M |
| Operating Margin | 0.0% | 76.3% | -35.8% | -30.6% | -81.5% | -32.8% |
| ROE | -130.0% | - | -26.2% | -5.9% | -17.0% | -3.3% |
| Shares Outstanding | 48M | 6M | 6M | 6M | 6M | 6M |
| Metric | 2009 | 2010 | 2011 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 21M | 17M | 11M | 11M | 41M | 0 |
| Gross Margin | 0.0% | N/A | N/A | N/A | N/A | N/A |
| R&D | 21M | 16M | 8.3M | 7.6M | 4.9M | 43M |
| SG&A | 6.3M | 15M | 6.7M | 7.2M | 4.8M | 68M |
| EBIT | -6.8M | -14M | -3.5M | -3.9M | 31M | -111M |
| Op. Margin | -32.8% | -81.5% | -30.6% | -35.8% | 76.3% | 0.0% |
| Net Income | -3.5M | -12M | -2.6M | -3.4M | 32M | -106M |
| Net Margin | -16.9% | -71.5% | -22.8% | -31.6% | 76.7% | 0.0% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||
| ROIC | -3.2% | -36.5% | -5.9% | -26.2% | 62.6% | -67.8% |
| ROE | -3.3% | -17.0% | -5.9% | -26.2% | N/A | -130.0% |
| ROA | N/A | -24.3% | -2.6% | -6.1% | 63.0% | -81.7% |
| Cash Flow | ||||||
| Op. Cash Flow | -15M | -143K | -260K | -7.2M | -6.9M | -84M |
| Free Cash Flow | -15M | -143K | -260K | -7.2M | -6.9M | -84M |
| Owner Earnings | -22M | -21M | -5.9M | -14M | -10M | -105M |
| CapEx | 0 | 0 | 0 | 0 | 0 | 137K |
| Maint. CapEx | 257K | 232K | 163K | 122K | 122K | 797K |
| Growth CapEx | N/A | N/A | N/A | N/A | N/A | 0 |
| D&A | 257K | 232K | 163K | 122K | 122K | 797K |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 6.7M | 20M | 5.4M | 6.6M | 3.1M | 20M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | -212M |
| Cash & Equiv. | 36M | 4.8M | 73M | 49M | 49M | 212M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | 0.00 | 2.01 | 1.23 | 3.33 | N/A | 0.00 |
| Interest Coverage | 0.0 | N/A | N/A | N/A | N/A | N/A |
| Equity | 108M | 33M | 44M | 13M | N/A | 82M |
| Total Assets | -132K | 99M | 99M | 57M | 50M | 130M |
| Total Liabilities | 192K | 66M | 55M | 44M | N/A | 48M |
| Intangibles | 0 | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | -130M | -132M | -136M | -104M | -484M |
| Working Capital | -136K | 84M | 85M | 47M | 48M | 61M |
| Current Assets | -132K | 98M | 98M | 57M | 50M | 109M |
| Current Liabilities | 4K | 14M | 13M | 10.0M | 1.8M | 48M |
| Per Share Data | ||||||
| EPS | -0.56 | -1.96 | -0.42 | -0.56 | 4.90 | -2.20 |
| Owner EPS | -3.49 | -3.34 | -0.94 | -2.26 | -1.58 | -2.16 |
| Book Value | 17.49 | 5.37 | 7.14 | 2.13 | N/A | 1.69 |
| Cash Flow/Share | -2.37 | -0.02 | -0.04 | -1.17 | -1.08 | -2.18 |
| Dividends/Share | 0.00 | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 6.2M | 6.1M | 6.2M | 6.2M | 6.4M | 48.3M |
| Valuation | ||||||
| P/E Ratio | N/A | N/A | N/A | N/A | 6.7 | -0.7 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 6.5 | 2.8 | 8.6 | N/A | 1.0 |
| Price/Sales | N/A | 9.4 | 18.0 | 12.1 | 3.4 | N/A |
| FCF Yield | N/A | -0.1% | -0.2% | -6.4% | -3.3% | -107.2% |
| Market Cap | 0 | 214M | 124M | 113M | 210M | 78M |
| Avg. Price | 0.00 | 25.66 | 33.28 | 21.34 | 21.46 | 1.62 |
| Year-End Price | 0.00 | 34.86 | 19.86 | 18.34 | 32.69 | 1.62 |
CASSAVA SCIENCES INC passes 1 of 9 quality checks, indicating weak fundamentals.
At current prices, the estimated annualized return to fair value is -42.6%.
CASSAVA SCIENCES INC (SAVA) has a 5-year average return on invested capital (ROIC) of -1.8%. This is below average and may indicate limited pricing power.
CASSAVA SCIENCES INC (SAVA) has a market capitalization of $78M. It is classified as a small-cap stock.
CASSAVA SCIENCES INC (SAVA) does not currently pay a regular dividend.
CASSAVA SCIENCES INC (SAVA) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
CASSAVA SCIENCES INC (SAVA) reported annual revenue of $41 million in its most recent fiscal year, based on SEC EDGAR filings.
CASSAVA SCIENCES INC (SAVA) has a net profit margin of 76.7%. This is a strong margin indicating high profitability.
CASSAVA SCIENCES INC (SAVA) generated $-7 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
CASSAVA SCIENCES INC (SAVA) reported earnings per share (EPS) of $4.90 in its most recent fiscal year.
The Ledger Terminal provides 5 years of financial data for CASSAVA SCIENCES INC (SAVA), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.