Why Cassava Sciences Stock Skyrocketed Today

Shares of Cassava Sciences (NASDAQ: SAVA) soared 141% on Tuesday after the biotechnology company released promising data from a study evaluating simufilam, its drug candidate for the treatment of Alzheimer's disease. 

An interim analysis of Cassava's clinical study showed an improvement in patients' cognition function following six months of simufilam treatment. Study participants' cognition scores improved by 10% on average from baseline. Better still, these patients' dementia-related symptoms, such as anxiety and agitation, improved by an average of 29% from baseline.

Importantly, no serious safety issues were reported during the study.

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Source Fool.com