H.C. Wainwright upgraded Cassava Sciences to Buy from Neutral with a $116 price target Cassava last month announced it reached a settlement with the SEC regarding the agency’s investigation into company statements made in 2020 pertaining to results from a Phase 2b clinical trial with simufilam, Cassava’s drug candidate in clinical development as a proposed treatment for patients with Alzheimer’s disease, or AD, notes the analyst, who believes the settlement put behind any controversy that could be a significant long-term challenge to upside in Cassava stock. Meanwhile, the firm looks for a topline readout from the 52-week RETHINK-ALZ Phase 3 study, which is expected by year-end 2024, to be a positive catalyst.
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