Cassava Sciences, Inc. SAVA shares are trading higher after the company announced MRI data suggested simufilam is not associated with amyloid-related imaging abnormalities.
What To Know: The data, from Alzheimer's patients who are enrolled in a Phase 3 clinical trial of simufilam, suggests that the drug is not associated with treatment-emergent amyloid-related imaging abnormalities (ARIA). Such brain MRI imaging abnormalities are a known risk factor for Alzheimer's patients taking the class of drugs known as monoclonal antibodies directed against beta amyloid, although simufilam is Cassava Sciences' small-molecule (oral) drug candidate.
Shares of the stock popped in response to the news on unusually high volume. According to data from Benzinga Pro, the stock experienced above-average trading volume of 3.73 million shares compared to its average volume of 1.07 million.
Related Link: Why Qualcomm Stock Is Trading Lower Today
SAVA Price Action: Shares of SAVA were up 24.5% at $18.39 at the time of publication, according to Benzinga Pro.
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