, a clinical stage biotechnology company, develops drugs for neurodegenerative diseases. Cassava Sciences overviewĬassava Sciences, Inc. This would suggest that Cassava Sciences's shares have been inversely-correlated to the average (for this exchange) – so when the broader market trended up or down, Cassava Sciences has bucked the trend. The market (NASDAQ average) beta is 1, while Cassava Sciences's is -0.1358. A popular way to gauge a stock's volatility is its "beta".īeta is a measure of a share's volatility in relation to the market. Over the last 12 months, Cassava Sciences's shares have ranged in value from as little as $13.84 up to $51.59. However, indirectly, the new 600% higher share price could have impacted the market appetite for Cassava Sciences shares which in turn could have impacted Cassava Sciences's share price. This wouldn't directly have changed the overall worth of your Cassava Sciences shares – just the quantity. So if you had owned 7 shares the day before before the split, the next day you'd have owned 1 share. Have Cassava Sciences's shares ever split?Ĭassava Sciences's shares were split on a 1:7 basis on. We're not expecting Cassava Sciences to pay a dividend over the next 12 months. TTM: trailing 12 months Cassava Sciences share dividends All international money transfer servicesĬassava Sciences financials Gross profit TTM.And Director Sanford Robinson bought 100,000 shares $20.69 for a total of $2,069,000. When the directors of a company are buying their company’s stock it’s a big plus that inspires confidence. The results may be announced approximately year end 2022.ĥ) Insiders apparently think Simufilam works, because two Directors spent their hard earned cash buying the stock in August of 2022. Director Richard Barry bought 36,159 shares $23.79 for a cost of $860,223. The results of its ongoing Phase 3 clinical program are expected to come out in mid-2024.Ĥ) The company announced completion of drug administration in an open-label study of Simufilam for approximately 200 patients designed to evaluate long-term drug safely and to measure cognitive changes over 12 months. That is a very large figure, making the stock a prime candidate for a short squeeze, which we believe has just begun.ģ) The company has enrolled approximately 650 patients in two Phase 3 studies and plans to enroll a total of 1,750 patients with mild-to-moderate Alzheimer’s disease in the 2 studies of Simufilam. The stock moved up $1.58 on volume of only 1.8 million shares on 12/8/22.Ģ) Furthermore there are 9.33 million shares short, equal to 24.66% of the Float, as of Novemper Yahoo! Finance. Here are catalysts for a continued upmove:ġ) The company has a relatively small amount of shares outstanding - only 41.74 million shares, and a Float of only 37.69 million shares. But now, the stock is acting well and we expect it to continue strongly on an upward path. The claims, although apparently false, have cast a shadow over the stock for some time. Neuroscience re-examined the original data for the article and in December of 2021 stated that they found no evidence to support claims of data manipulation. Food and Drug Administration requesting that Cassava’s clinical trials of Simufilam be stopped, alleging, among other things, data manipulation in scientific articles authored by Cassava scientists, including a 2005 Neuroscience article.Īs a result, the stock plummeted from $120 to $40. In August of 2021, a law firm representing admitted short sellers submitted a Citizen Petition to the U.S. But keep in mind that this is a one-drug company, and the stock could go down to $1.00 if it fails to get the drug approved. If Simufilam gets approved, the stock could go a lot higher. Within 10 months it reached $140 intraday, a gain of 1400%. We have been following the stock for some time and on Octowe gave it a Buy Rating at $9.32. If it gets approved, it could easily become a multi-billion dollar drug. What makes this stock so interesting is that Simufilam appears to improve cognition in Alzheimer’s patients, not just slow the progression of the disease. Cassava Sciences ( SAVA) is a high risk, high reward clinical biotech company its flagship drug candidate is Simufilam - an Alzheimer’s drug - currently in Phase 3 trials, explains Joe Cotton, editor of Cotton’s Technically Speaking.
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