Cassava Sciences Slides After Releasing Data On Its Alzheimer's Drug

Cassava Sciences, Inc. (SAVA) shares are sliding more than 14 percent on Friday morning trade, despite the company saying biomarker data with Simufilam in Alzheimer's disease is positive. There have been reports of a few researchers questioning the results.

The company said Simufliam showed improvements in all measured biomarkers of disease and improved cognition.

Cassava Sciences will give a live podium presentation today at the Alzheimer's Association International Conference in Denver, CO, and virtually.

The shares gained initially and is currently at $88.57, down 14.30 percent from the previous close of $103.35 on a volume of 5,979,437. For the 52-week period, the shares have traded in a range of $2.78-$146.16 on average volume of 2,962,009.

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