Cassava Sciences, Inc. SAVA will provide updates on its Alzheimer’s disease (AD) candidate, simufilam, when it reports second-quarter 2021 results.The company has a mixed earnings surprise history. It missed the Zacks Consensus Estimate for earnings in the last two quarters and beat the same in the other two. The average four-quarter earnings surprise was -15.39%. In the last reported quarter, the company missed on earnings by 12.50%.Shares of Cassava Sciences have surged 1112.6% in the year so far against the industry’s decline of 10.8%.Image Source: Zacks Investment ResearchLet's see how things are shaping up for this announcement.Key Factors to NoteCassava Sciences does not have any marketed drugs in its portfolio and hence, it does not generate any revenues. Investors will primarily focus on updates on its lead drug candidate when it reports results. Simufilam is the company’s lead drug candidate, which is being evaluated for the treatment of AD.In March 2020, Cassava Sciences initiated a long-term, open-label study to evaluate simufilam in patients with AD. This study is funded by a research grant award from the National Institutes of Health (NIH). This open-label study is being conducted to monitor the long-term safety and tolerability of simufilam 100 mg twice daily for 12 months or longer in patients with AD. It also intends to measure changes in cognition on ADAS-Cog, a standard test of cognition in AD.The study protocol has pre-specified interim analyses on safety and cognition for the first 50 subjects who complete 6, 9 and 12 months of drug treatment. The target enrollment of 150 subjects is completed. Cassava Sciences plans to announce results from an interim analysis on the safety and cognition of the first 50 subjects to complete 9 months of open-label drug treatment shortly and investors will be keen on updates on the same.In May 2021, the company initiated a double-blind, randomized, placebo-controlled study in AD patients — Cognition Maintenance Study (CMS). Patients who previously completed at least one year of open-label treatment with simufilam qualify to enroll in the CMS. Updates on the same will be awaited on the call. Cassava Sciences plans to initiate a phase III program of simufilam in AD in the second half of 2021 and further updates on the same will be an area of focus.As of Mar 31, Cassava Sciences had approximately $282 million in cash. Per management, it has sufficient runway to support the phase III clinical development program of simufilam. In May 2021, the company announced a new $2.7-MILLION research grant award from the NIH.What Our Model IndicatesOur proven model does not conclusively predict an earnings beat for Cassava Sciences this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here as you will see below.Earnings ESP: Cassava Sciences has an Earnings ESP of 0.00%. Both Zacks Consensus Estimate and Most Accurate Estimate stood at a loss of 11 cents.You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Zacks Rank: The company currently carries a Zacks Rank #4 (Sell).Cassava Sciences, Inc. Price, Consensus and EPS Surprise Cassava Sciences, Inc. price-consensus-eps-surprise-chart | Cassava Sciences, Inc. QuoteStocks to ConsiderHere are some biotech stocks that have the right mix of elements to beat on earnings this time around:Exact Sciences Corporation EXAS has an Earnings ESP of +1.19% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.ACADIA Pharmaceuticals ACAD has an Earnings ESP of +7.53 % and a Zacks Rank #2.Blueprint Medicines Corporation BPMC has an Earnings ESP of +5.50% and a Zacks Rank #3. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Exact Sciences Corporation (EXAS): Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD): Free Stock Analysis Report Blueprint Medicines Corporation (BPMC): Free Stock Analysis Report Cassava Sciences, Inc. (SAVA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research