If you thought Reddit stocks were nearing the end of their usefulness, think again. The slump seen across plays like AMC (NYSE:AMC) plagued the class of securities in the last few weeks, but it is looking smaller in the rearview mirror as these stocks begin to grow again. Cassava Sciences (NASDAQ:SAVA) is no different; today, SAVA stock is on the rise, and it has good reason to be with its upcoming presentations.
Cassava Science is a biotech company that specializes in neuroscience. In particular, the company develops various products centered around the detection and treatment of Alzheimer’s disease. Obviously, the illness has been a hot topic, thanks to the controversial Aduhelm treatment from Biogen (NASDAQ:BIIB). Many healthcare professionals are against the drug, even after its approval from the Food and Drug Administration (FDA); in fact, multiple healthcare facilities are banning the administering of the treatment on their campuses.
With the time so ripe for another company to step in and offer up a better alternative, all eyes are turning to Cassava’s announcement today. The company is planning on not one but two presentations, coming July 26 and July 30. These presentations will both be given at the 2021 Alzheimer’s Association International Conference.
SAVA Stock Gets a Boost Ahead of Data Presentations
Investors should be looking forward to these panels, as they will present some optimistic data regarding two Cassava products. July 26 will see the company share details around its SavaDx diagnostic, which can help detect Alzheimer’s. On July 29, the company will present its clinical data around the trial of its Simufilam treatment. The drug is said to effectively repair and preserve essential protein scaffolding in the brain, which keeps patients’ neural functions improved.
With all of this great news coming forth today, SAVA stock is seeing significant gains. SAVA is up over 29% on the news, and trading volume is high. Nearly 6 million shares of SAVA stock are swapping hands today, greater than the average volume of 2.3 million.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
