SAVA Stock Alert: Cassava Sciences Rises After Late-Stage Trial Update

Cassava Sciences (NASDAQ:SAVA) shares rose on Monday after the company provided investors with an update on its Phase 3 trial for its Alzheimer’s drug.

According to a press release from Cassava Sciences, data from the first Phase 3 clinical trial will be available by December 2024. This trial will involve 804 patients who will be randomly assigned one-to-one into groups receiving simufilam and a placebo.

In addition, the company expects to complete a second clinical trial in June 2025. This trial will involve two doses of simufilam and a placebo in a one-to-one ratio. 1,125 patients will participate in this trial.

Rick Barry, former CEO and new Chairman of Cassava Sciences, had the following to say about the news.

“Our board is 100% committed to completing our Phase 3 program and publishing results in a timely manner. This Phase 3 program is being conducted by Premier Research, one of the best contract research organizations in the industry. Data generated from the studies will be retained by Premier until they are submitted directly to our biostatisticians at Pentara Corporation, who are the gold standard for biostatistics in Alzheimer’s studies. Cassava will not know the results of the study until Pentara shares them with us.”

SAVA share movement today

SAVA shares are trading heavily on Monday, with more than 7.6 million shares outstanding, well above the average daily trading volume of around 1.8 million shares.

SAVA stock is also up 29% since Monday afternoon. However, shares are still down 42% since the beginning of the year.

Below you will also find other stock market stories that may be of interest to traders!

We have all the hottest stock market events for Monday! Some examples are the development of the shares of NVIDIA (NASDAQ:NVDA), Starbucks (NYSE:SBUX) And CrowdStrike (NASDAQ:CRWD) share. You can find out about all these things at the following links!

More stock market news for Monday

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At the time of publication, William White had no position (either directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com Publishing guidelines.