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Why Shares of Cassava Sciences Rose 15% Today

·2 min read
Why Shares of Cassava Sciences Rose 15% Today
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Shares of Cassava Sciences (NASDAQ: SAVA) -- the biotech company responsible for Alzheimer's drug candidate simufilam -- are up 15% as of Thursday's market close after the company released interim data from a study funded by the National Institutes of Health. According to management, data from the first 50 patients to receive treatment, who had mild to moderate Alzheimer's, showed improved cognition scores after 12 months. The fireworks started after law firm Labaton Sucharow filed a citizen petition with the Food and Drug Administration.