Why Is Cassava Sciences Stock Soaring in 2021?

Cassava Sciences (NASDAQ: SAVA) started off 2021 as a micro-cap, with its stock priced at $7 per share. By the end of June, that same stock traded hands at $85. So that's a nice 12-bagger in six months. Why is this biotech -- and former micro cap -- so hot right now?

Cassava is working on a treatment for Alzheimer's disease. This awful condition ravages a patient's mind and causes a lot of emotional and financial pain for families. Pharmaceutical companies have been trying to find a cure for Alzheimer's for a long time, to no avail. The best we have been able to do so far is slow the decline. But "slowing the decline" means that patients are still getting worse.

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Source Fool.com