Summary by Futu AI
On April 15, 2024, Cassava Sciences, Inc., a clinical-stage biotechnology company, announced the final day for exercising warrants issued to shareholders. The deadline for warrant exercise is set for May 6, 2024, by 5:00 p.m. New York City time. These warrants were initially distributed on January 3, 2024, allowing shareholders to purchase additional shares at a predetermined price. Warrants not exercised by the deadline will be redeemed the following day, May 7, 2024, for a nominal fee of $0.001 per warrant, after which they will become void and valueless. The company has encouraged warrant holders to act promptly to ensure their financial institutions can process the transactions before the cutoff. The announcement was made via a press release and filed with the U.S. Securities and Exchange Commission as part of a Form 8-K report. Cassava Sciences is focused on developing treatments for neurodegenerative diseases, with its lead product candidate, Simufilam, currently undergoing Phase 3 clinical trials for Alzheimer's disease dementia.