Cassava Sciences, Inc. (NASDAQ:SAVA) shares are trading higher Wednesday after the company reported top-line results of a two-year clinical safety study of simufilam, an investigational oral drug for the proposed treatment of Alzheimer's disease dementia.

The Details:

The top-line results showed no decline in cognition scores in patients with mild Alzheimer's disease who received simufilam continuously for 24 months.

"We're fighting Alzheimer's disease by testing simufilam, a new type of drug that has a completely different mechanism of action from monoclonal antibody drug treatments," said Remi Barbier, CEO of Cassava.

"Stable ADAS-Cog scores over 2 years is clearly a desirable clinical outcome in Alzheimer's. Our data in mild patients may emphasize the importance of treating patients early in the disease."

Cassava Sciences shares have grabbed the attention of retail investors and short-sellers alike. The stock is one of the top trending tickers on Stocktwits, and a remarkable 33.49% of available shares are being sold short.

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SAVA Price Action: According to Benzinga Pro, Cassava Sciences shares are up 2.2% at $24.18 at the time of publication.

Image: Michal Jarmoluk from Pixabay