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AUSTIN - Cassava Sciences, Inc. (NASDAQ:SAVA), a clinical-stage biotechnology company with a market capitalization of $113 million, announced Thursday the appointment of Dr. Joseph Hulihan as Chief Medical Officer. Dr. Hulihan will devote approximately half of his professional time to advising on the clinical development of simufilam, the company’s investigational candidate for Tuberous Sclerosis Complex (TSC)-related epilepsy. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 9.08, indicating robust short-term financial stability.
Dr. Hulihan brings over 25 years of industry experience specializing in therapeutics for epilepsy and neurological disorders. He previously served as Chief Medical Officer at Marinus Pharmaceuticals, which was acquired by Immedica Pharma in March 2025, and held senior leadership roles at Janssen Pharmaceutical Companies of Johnson & Johnson.
"He brings a keen understanding of clinical drug development strategies for TSC-related epilepsy, with strong connections to the TSC community," said Rick Barry, President and CEO of Cassava Sciences, in a press release statement.
Cassava Sciences plans to initiate a proof-of-concept clinical study for simufilam in TSC-related epilepsy in the first half of 2026. Simufilam is described as a proprietary, investigational oral small molecule believed to modulate activity of the filamin A protein. While the company’s stock has shown strong momentum with an 11.4% return over the past week, InvestingPro analysis reveals the company is currently burning through cash rapidly, with negative free cash flow of $109.2 million in the last twelve months.
Dr. Hulihan is board certified in Neurology and Electroencephalography and has served as principal investigator or team member on more than 25 late-stage neurology clinical trials. He received his medical degree from Drexel University School of Medicine and holds a Master of Science in Health Policy from the Jefferson School of Population Health.
Cassava Sciences is a clinical-stage biotechnology company based in Austin, Texas, focused on developing treatments for central nervous system disorders. The company’s stock, which trades with a beta of -2.06, typically moves counter to broader market trends. InvestingPro subscribers have access to 12 additional key insights about SAVA’s financial health and market performance, helping investors make more informed decisions.
In other recent news, Cassava Sciences announced that its investigational drug, simufilam, demonstrated a 60% reduction in seizure frequency compared to a placebo in a preclinical mouse model of focal onset seizures. This data was presented at the TSC International Research Conference in Bethesda, Maryland. Additionally, the company shared safety data from its Alzheimer’s disease program, which involves 1,929 patients. These developments highlight ongoing research efforts by Cassava Sciences in neurological conditions. The preclinical results and safety data are part of the company’s broader research initiatives. The company did not disclose further details about future plans for simufilam based on these findings. Cassava Sciences continues to focus on its investigational therapies and their potential implications in the medical field.
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