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Stock Alert: Cassava Sciences Soars 25%

Shares of clinical stage biotechnology company, Cassava Sciences, Inc. (SAVA) are surging more than 25% Friday morning on the news of insider stock buying.

Thursday, the company disclosed that its CFO Eric Schoen bought 10000 share of the company at $7.03 per share and in another transaction, the company's director purchased 213,719 shares at $6.98 per share.

On September 14, the company had announced positive results from the phase II b study of its lead drug candidate sumifilam, in Alzheimer's disease.

SAVA is currently trading at $9.03. It has been trading in the range of $1.05- $10.95 in the past 52 weeks.

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