Why Cassava Sciences Stock Is Trading Higher Today

Cassava Sciences (NASDAQ: SAVA) shares are trading higher on Wednesday after the company announced additional data from the Phase 2b study of sumifilam in patients with Alzheimer's disease. Patients treated with it showed a statistically significant treatment benefit.

Cassava Sciences is a clinical-stage biotechnology company engaged in developing a scientific approach for the treatment and detection of Alzheimer's disease. It is also developing an experimental biomarker diagnostic PTI-125 to detect Alzheimer's disease with the help of a blood test.

Cassava Sciences shares were trading up 23.75% at $11.37 on Wednesday. The stock has a 52-week high of $12.68 and a 52-week low of $1.20.