Cassava Sciences Inc SAVA shares are trading lower by 20% at $108 Thursday afternoon after the company reported biomarker data from an open-label study of simufilam, its investigational drug for the treatment of Alzheimer's disease.
"We are very pleased with the overall consistency of data," said Remi Barbier, President & CEO in a press release.
"Simufilam improved cognition, biomarkers and behavior, a triple-win for study participants. These clinical data combined with a clean safety profile and easy oral administration suggest highly encouraging and durable treatment effects for people living with Alzheimer's disease."
Cassava Sciences is a clinical-stage biotechnology company engaged in developing a scientific approach for the treatment and detection of Alzheimer's disease. Its therapeutic product candidate is called simufilam, and it is a novel treatment for Alzheimer's disease.
Cassava Sciences has a 52-week high of $146.06 and a 52-week low of $2.78.
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