Casava Sciences (NASDAQ:SAVA) stock jumped 9% Wednesday after the pharmaceutical company released promising data related to its clinical study of Simfilam, its proposed treatment for Alzheimer’s-related dementia. SAVA stock is up about 0.5% this morning as well.
What do you need to know about Cassava’s optimistic new trial results?
Well, results of the two-year clinical trial showed that patients with mild Alzheimer’s who took Simufilam continuously showed no decline in cognitive test scores as a group. This compares with the same type of patients who received the treatment non-continuously, who experienced a one-point decline in cognitive scores.
The results are highly encouraging, given mild Alzheimer’s patients typically experience cognitive decline of about 3 points per year, on average. From the company’s 8-K on the results:
“We’re fighting Alzheimer’s disease by testing Simufilam, a new type of drug that has a completely different mechanism of action from monoclonal antibody drug treatments,” said Remi Barbier, President & CEO. “Stable ADAS-Cog scores over 2 years is clearly a desirable clinical outcome in Alzheimer’s. Our data in mild patients may emphasize the importance of treating patients early in the disease.”
It’s worth noting that patients with moderate Alzheimer’s experienced a far more notable decline in cognitive scores compared to mild cases. The patient group with moderate Alzheimer’s experienced an 11.05-point decline in cognition while taking the treatment continuously over the past 24 months.
Simufilam is an oral treatment taken in the form of a 100 mg tablet twice a day.
SAVA Stock Jumps on Hopeful Clinical Results
Investors were quick to jump on SAVA stock following the release of the clinical trial results. Reasonably so, Cassava’s results show tremendous promise in slowing the degenerative effects of at least early Alzheimer’s.
SAVA is up more than 15% year-to-date, though the stock is still down about 12.5% in the past 12 months.
If you recall, back in 2021, Cassava got caught up in the “meme-stock” craze. Indeed, its share price surged from $8 per share as high as $124 over just a few months on little pertinent news.
While the meme-stock fad has since died down, Cassava is still holding on. And after Wednesday’s jump, SAVA stock is sitting at about $25 per share.
On the date of publication, Shrey Dua did not hold (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.
