#1 - Cassava Sciences (NASDAQ:SAVA)
The first company on our list is a biotechnology company. But Cassava Sciences (NASDAQ:SAVA) is probably not a company you heard about in 2020 because it doesn’t have a Covid-19 vaccine candidate. What the company does have is a late-stage drug candidate, simufilam, that is designed to treat Alzheimer’s disease.
The statistics about Alzheimer’s are staggering. Approximately 5.7 million individuals in the United States are currently afflicted. That number is projected to rise to 16 million by 2050. In fact, someone in the U.S. develops Alzheimer’s every 65 seconds. By 2050, that time is projected to drop to 33 seconds.
And there is no cure. But progress is being made on the treatment front. The company is scheduled to start a Phase 3 trial of simufilam in the latter half of 2021. However the stock has charged higher since the beginning of the year on news that an interim analysis of Cassava’s clinical study showed that patients who were using simufilam for six months showed improved cognitive function with no serious side effects.
This is a very aggressively growing stock that closed trading on February 1 at $22.99 and is trading over $114 per share as of this writing. Cassava is not yet profitable, but the fortunes of the company can change dramatically if it can bring simufilam through a successful trial.
About Cassava Sciences
Cassava Sciences, Inc, a clinical stage biotechnology company, develops drugs for neurodegenerative diseases. Its lead therapeutic product candidate is simufilam, a small molecule drug, which is completed Phase 2 clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer's disease.
Read More - Current Price
- $21.73
- Consensus Rating
- Buy
- Ratings Breakdown
- 1 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $124.00 (470.6% Upside)
