Cassava Sciences (NASDAQ:SAVA) shares are trading lower on Friday after the company announced a common stock offering. No size was disclosed.
Cassava Sciences is a clinical-stage biotechnology company engaged in developing a scientific approach for the treatment and detection of Alzheimer's disease. It is also developing an experimental biomarker diagnostic PTI-125 to detect Alzheimer's disease with the help of a blood test.
Cassava Sciences shares traded down 26.30% at $8.24 on Friday during the time of publication. The stock has a 52-week high of $12.68 and a 52-week low of $1.20.