Cassava Sciences (NASDAQ:SAVA) stock is up on Monday after the company provided investors with an update for its Phase 3 trial for its Alzheimer’s disease treatment.
According to a news release from Cassava Sciences, the data from its first Phase 3 clinical trial will come out by December 2024. This trial includes 804 patients randomized on a one-for-one basis into groups taking simufilam and a placebo.
On top of that, the company is expecting a second clinical trial to be ready in June 2025. This is split on a one-for-one-for-one basis between two doses of simufilam and a placebo. There are 1,125 patients in this trial.
Rick Barry, former CEO and new executive chairman of Cassava Sciences, said the following about the news.
“Our board of directors is 100% committed to completing our Phase 3 program and releasing those results on a timely basis. That Phase 3 program is being executed by Premier Research, one of the best Contract Research Organizations in the industry. Data generated from the trials will be held by Premier until it is transferred directly to our biostatisticians at Pentara Corporation, who are the gold standard for biostatistics in Alzheimer’s trials. Cassava will not learn the trial’s results until Pentara shares them with us.”
SAVA Stock Movement Today
SAVA stock is experiencing heavy trading on Monday with more than 7.6 million shares on the move. That’s well above its daily average trading volume of about 1.8 million shares.
SAVA stock is also up 29% as of Monday afternoon. However, its shares are still down 42% since the start of the year.
There are also more stock market stories traders are going to want to read about below!
We have all of the hottest stock market happenings ready to go on Monday! A few examples include what’s happening with shares of Nvidia (NASDAQ:NVDA), Starbucks (NYSE:SBUX) and CrowdStrike (NASDAQ:CRWD) stock. You can catch up on all of these matters by checking out the following links!
More Stock Market News for Monday
- NVDA Stock Alert: Nvidia Preps New AI Chip for Chinese Market
- Elliott Management Is Reportedly Betting Big on Starbucks (SBUX) Stock. What That Means.
- Piper Sandler Just Cut Its Price Target on CrowdStrike (CRWD) Stock
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On the date of publication, William White 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.
