Benzinga | Feb 10, 2021 06:16AM EST

Cassava Sciences Announces $200M Registered Direct Offering Of Common Stock

AUSTIN, Texas, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Cassava Sciences, Inc. (NASDAQ:SAVA) (the "Company" or "Cassava Sciences"), a clinical-stage biotechnology company focused on Alzheimer's disease, today announced that it has entered into a definitive agreement with several healthcare-focused and other institutional investors for the purchase of 4,081,633 shares of its common stock, at a purchase price per share of $49.00, for gross proceeds of approximately $200.0 million, in a registered direct offering. The closing of the offering is expected to occur on or about February 12, 2021, subject to the satisfaction of customary closing conditions.