Benzinga | May 12, 2021 02:15PM EDT

Caladrius Biosciences, Cassava Sciences Secure Non-Dilutive Funding For Product Development

* Caladrius Biosciences Inc (NASDAQ: CLBS) has received $1.4 million in non-dilutive funding as an approved participant of the Technology Business Tax Certificate Transfer Program sponsored by the New Jersey Economic Development Authority.

* The Program enables qualifying companies to sell a percentage of their New Jersey net operating losses and research and development tax credits to unrelated qualifying corporations.

* Cassava Sciences Inc (NASDAQ: SAVA) has been awarded a new $2.7 million research grant award from the National Institutes of Health.

* The grant will be used to fund its upcoming Phase 3 program with simufilam, its drug candidate for Alzheimer's disease.

* Price Action: CLBS shares are trading 0.68% lower at $1.45, and SAVA shares are down 2.73% at $38.16 during the market session on the last check Wednesday.