- Alzheimer’s drug developer Cassava Sciences ( NASDAQ: SAVA ) lost ~13% in the morning hours Thursday to reach the lowest level since mid-September on below-average volume amid concerns over a corporate presentation the company posted for December 2022.
- About ~1.2M Cassava ( SAVA ) shares have changed hands compared to the 65-day average of ~2.1M as the stock has reached the lowest level in about a month.
- The selloff comes amid Tweets related to the company’s latest corporate presentation for December 2022. Cassava Sciences ( SAVA ) was not immediately available for Seeking Alpha’s requests for comments.
- The company, which advances an experimental Alzheimer’s therapy called Simufilam, recently filed a federal lawsuit against investors who allegedly manipulated its stock price to benefit from their short positions financially.
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Cassava Sciences slips 13% to reach three-month low