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Why Cassava Sciences Stock Is Trading Lower Today

Cassava Sciences (NASDAQ: SAVA) shares are trading lower on Friday after the company announced a common stock offering. No size was disclosed.

· 11/13/2020 11:24

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.