Here's Why Cassava Sciences Is Surging Today

Shares of Cassava Sciences (NASDAQ: SAVA), a clinical-stage biopharmaceutical company, gained 26.6% as of 3:05 p.m. EDT on Wednesday. Investors are anticipating a new set of clinical-trial data from the company's lead candidate, simufilam, to be presented at the Alzheimer's Association International Conference (AAIC) later this month.

The FDA's controversial approval of Aduhelm from Biogen (NASDAQ: BIIB) this June has many retail investors excited about the next potential Alzheimer's disease treatment. More than 6 million Americans are living with this progressive and ultimately fatal form of dementia, and the only available treatment isn't supported by evidence of efficacy.

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Source Fool.com