Is Cassava Sciences Stock a Buy?
In May, Cassava Sciences (NASDAQ: SAVA) stock was down as much as 75% after management revealed that its experimental drug sumifilam did not meet its phase 2 study's primary endpoints for targeting Alzheimer's disease. The drug has been resurrected, however, after its study data was sent to a second independent research firm, which noticed trends between study groups that were not apparent during the first data analysis.
The company now views the trial as a success. As a result, Cassava shares have made back all their losses since May and are up a staggering 743% year over year. Management seems confident in the reversal, with more than 46,000 shares purchased by insiders within the past week. Will Cassava's sumifilam be the cure to this medical need? Let's find out.
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Source Fool.com
