Cassava Science Inc (NASDAQ: SAVA) has been one of the top gainers in December. In yesterday’s session, the company rallied by 26.74% to close the day at $4.56. The stock has been on the rise since the 5th of December, when it announced positive data for its mid-stage trial for its Alzheimer’s drug named PTI-125. The company announced that this therapy had shown a reduction in cerebrospinal fluid and plasma biomarkers.
The data is from the company’s phase 2a study for PTI-125. The company scientists presented it at the 12th International Conference on Clinical Trials on Alzheimer’s disease in San Diego. They announced that, from the data presented, there was clinical evidence that the new treatment had the following drug-target engagement. They are as follows:
The company recorded an improvement in biomarkers of the disease in plasma and lymphocyte. It also recorded consistency in all biomarker improvement in CSG, plasma, and lymphocytes. There was also a significant reduction in phosphorylated and nitrated forms of tau protein. The company also announced that, there was evidence that every patient responded to biomarker responses to PTI-125. The scientists also announced that there was evidence that PTI-125 reversed the shape of changed filamin A in lymphocytes. They also announced that early clinical validation of the drug target as a facilitator protein between neuroinflammation, tau pathology, and amyloid-beta.
Speaking on the presentation, the company CEO, Remi Barbier stated that, the presentation was exciting and that it supports the clinical benefits of slowing down neuroinflammation and neurodegeneration in Alzheimer’s patients. He added that, the company was looking forward to gaining more insights on the effect of PTI-125, after they conclude their ongoing phase 2b study.
From the charts, the stock traded between a low of $4.01 and a high of $4.95, before closing the day at $4.55 in yesterday’s session. Its volumes in the day stood at 19.72 million.
About Cassava Sciences Inc
Cassava Sciences Inc is a biopharma company that develops drugs for issues of the nervous system. The company is headquartered in Austin, Texas.