Cassava Sciences SAVA Stock News

Cassava Sciences Inc (NASDAQ: SAVA) is running for the top in the market this morning after announcing that it will be giving a presentation soon. Following the recent, and dramatic declines seen in the stock, the presentation seems to be triggering the beginning of a short squeeze. Here’s what’s going on:

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SAVA Heads Up On Presentation

In the press release, Cassava Sciences said that its management will present at the Jefferies Virtual Healthcare Conference today at 3:00 pm EST.

Moreover, SAVA provided an update that included a discussion regarding the results of its Phase 2b randomized, placebo-controlled study of PTI-125 in patients with Alzheimer’s disease.

Importantly, the company said that high variability in levels of biomarkers over 28 days in placebo-treated patients, and other possible factors, may drive a reassessment of overall results of this study. To see the full update, go to the Investors page of the Company’s website here.

In the release, SAVA said that its latest corporate presentation outlines a strategy for better understanding of the overall outcome of this particular study. This includes re-analyzing cerbrospinal samples from all participnts, analyzing lymphocyte & plasma samples from all participants, and the evaluation of the drug’s effects on cognition.

The company said that it expects to announce the results of these analyses in the second half of this year.

In a statement, Remi Barbier, President and CEO at SAVA, had the following to offer:

We think it’s worth reflecting on what can be learned from our Phase 2b study by closely examining the clinical data, methods used to generate the data and drug effects on cognition. These on-going analyses may teach us how to move forward with our drug development plans for PTI-125 in Alzheimer’s disease.

This Is Big News

As mentioned at the beginning of this article, Cassava Therapeutics hasn’t had the best of times in the market as of late. Unfortunately, the Phase 2b trial led to sub-par results, ultimately causing tremendous declines.

However, the idea that the study may result in positive news is exciting investors. This couldn’t have happened at a more perfect time for the stock. With heavy short interest, the news is sending the stock up, which could lead to shorts running for cover, sending the stock skyrocketing further.

While there is no telling what further analysis of the data from the Phase 2b trial will bring, what we do know is that at the moment, investors are excited and SAVA stock is soaring as a result.

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