Cassava Sciences News: Why SAVA Stock Is Soaring 24% Today

Cassava Sciences (NASDAQ:SAVA) is in the news Wednesday after announcing additional data from a recent clinical trial.

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The clinical trial is a Phase 2b study of sumifilam. This is the company’s leading drug candidate. The trial was to determine how effective the oral drug is at treating patients suffering from Alzheimer’s disease.

The results from this clinical trial show that sumifilam was able to reduce levels of HMGB1. This is a protein that is connected to neuroinflammation and loss of neurons. It also saw the drug improve the integrity of the blood-brain barrier. A weak blood-brain barrier leads to issues with mental health.

The Cassava Sciences notes that this news is incredibly important for patients with Alzheimer’s disease. That’s due to there currently being no drug in science literature that is capable of decreasing HMGB1 levels while increasing the integrity of the blood-brain barrier.

Remi Barbier, president and CEO of Cassava Sciences, had this to say about the study news.

“The ability to improve multiple biomarkers of disease with one drug is a unique achievement. We believe these exciting clinical results create a time of rapid strategic momentum for the Company, to include development plans to evaluate sumifilam in a Phase 3 clinical program in patients with Alzheimer’s disease.”

Cassava Sciences is seeing heavy trading of SAVA stock on the news. Over 16 million shares have changed hands as of this writing, which is more than double the daily average of 7 million shares.

SAVA stock was up 24.1% as of Wednesday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/11/cassava-sciences-news-sends-sava-stock-soaring/.

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