Why Cassava Sciences Was Up 15% in May

Shares of Cassava Sciences (NASDAQ: SAVA) rose 15% in May, according to data provided by S&P Global Market Intelligence. After a positive meeting with the Food and Drug Administration (FDA) in February, its treatment for Alzheimer's Disease (AD) got more good news in May: It received a $2.7 million grant from the National Institutes of Health (NIH).

The relationship isn't new. The biotech has been developing the drug for more than 10 years and the NIH has been providing funding since 2017.

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Source Fool.com