Benzinga | Nov 5, 2021 09:10AM EDT

Why Cassava Sciences Shares Are Rising

Cassava Sciences, Inc. (NASDAQ:SAVA) shares are trading higher after a review by the Journal of Neuroscience showed there is no evidence of data manipulation in a 2012 company technical paper.

"I've never doubted the integrity of our people or science," said Remi Barbier, President & CEO. "We remain focused on conducting a Phase 3 clinical program of simufilam in people with Alzheimer's disease. It's an important endeavor, notwithstanding pundits who may be louder than they are learned. We'll stay the course until our job is done."

Cassava Sciences, Inc., a clinical stage biotechnology company, develops drugs for neurodegenerative diseases. Its lead therapeutic product candidate is simufilam, a small molecule drug, which is completed Phase 2b clinical trial.

Cassava Sciences' stock was trading about 42,5% higher at $80.75 per share on Thursday at the time of publication. The stock has a 52-week high of $146.16 and a 52-week low of $6.70.