B. Riley says yesterday's readout from a pre-planned 12-month treatment interim analysis of Cassava Sciences Inc's (NASDAQ: SAVA) simufilam trial data "reinvigorate" investor confidence.
The Company announced a pre-planned interim analysis of an ongoing open-label study of simufilam in mild-to-moderate Alzheimer's disease.
Related Content: Cassava Sciences' Simufilam Data Shows Improved Cognition In Alzheimer's Disease.
Analyst Mayank Mamtani has reiterated a Buy rating with a $108 price target.
Mamtani tells investors in a research note that this cognition data update and evaluation methodology "to some extent, helps assuage investor concerns" emanating from the recent Citizen's Petition.
Related: Cassava Sciences Shares Sink With Alzheimer's Drug Mired In Controversy.
But the analyst still asserts that the Company needs supportive 12-month biomarker analyses.
Price Action: SAVA stock is up 16.20% at $60.71 during the market session on the last check Thursday.
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Cassava Sciences' Simufilam Data Shows Improved Cognition In Alzheimer's Disease
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