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Stock Alert: Cassava Sciences Rises 9%

(RTTNews) - Shares of Cassava Sciences, Inc. (SAVA) are currently up 9% on Tuesday morning after news that Board member Robertson Sanford increased his stake in the company.

SAVA is currently trading at $10.70, up $0.89 or 9.01%, on the Nasdaq.

On Monday, the clinical stage biotechnology company disclosed that Sanford Robertson, who has served as a director since 1998, bought 36,281 shares at $8.92 per share, increasing his holdings to nearly 1 million shares.

The company's stock has surged over 200% over the past one month, following news of positive data on lead Alzheimer's drug.

Last week, the company announced final results of a phase IIb study of Sumifilam in patients with Alzheimer's disease, with the treatment group showing statistically significant improvements in biomarkers of the Alzheimer's disease compared to placebo group.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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