SAVA Stock Increases Over 33% Intraday: Why It Happened

By Amit Chowdhry ● Jul 21, 2021
  • The stock price of Cassava Sciences Inc (Nasdaq: SAVA) increased by over 33% during intraday trading. This is why it happened.

The stock price of Cassava Sciences Inc (Nasdaq: SAVA) – a biotechnology company focused on Alzheimer’s disease – increased by over 33% during intraday trading. Investors are responding positively to the company announcing it will present two new clinical datasets for its product candidates at the 2021 Alzheimer’s Association International Conference (AAIC) — which is happening in Denver, Co and virtually on July 26th through July 30th. 

Cassava Sciences’ investigational product candidates include simufilam (a drug treatment for Alzheimer’s disease) and SavaDx (a biomarker/diagnostic to detect Alzheimer’s disease with a simple blood test). 

On Monday, July 26th, at about 10 am ET, scientists for Cassava Sciences will show a poster presentation at AAIC titled “SavaDx, a Novel Plasma Biomarker to Detect Alzheimer’s Disease, Confirms Mechanism of Action of Simufilam.” And on Thursday, July 29th, at about 11 am ET, simufilam will be featured in a live podium presentation at AAIC, including a brief Q&A session. 

This oral presentation will feature the results of an interim analysis on safety and cognition for the first 50 patients with Alzheimer’s disease to complete 9 months of open-label treatment. And scientists for Cassava Sciences will also present biomarker data analyzed from cerebrospinal fluid (CSF) collected from 25 study subjects at baseline and again after completing 6 months of open-label drug treatment, including:

— Biomarkers of Alzheimer’s disease: amyloid beta42, total tau, P-tau181

— Biomarkers of neurodegeneration: neurogranin, neurofilament light chain (NfL)

— Biomarkers of neuroinflammation: YKL-40, sTREM2 and HMGB1

KEY QUOTE:

“Cassava Sciences’ contributions to AAIC showcase our efforts to develop innovative product candidates for people living with Alzheimer’s disease. We are honored AAIC’s scientific committee has invited us to present the latest clinical dataset for simufilam in an oral presentation on Thursday, July 29th.”

— Remi Barbier, President and CEO

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.