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Cassava Sciences CEO’s Strategic Stock Purchase Signals Confidence Amid Pipeline Shift
Cassava Sciences CEO’s Strategic Stock Purchase Signals Confidence Amid Pipeline Shift
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BTCCSquare news:
Cassava Sciences CEO Richard Barry acquired 237,941 shares worth $534,743 this week, marking his first insider purchase in over a year. The MOVE follows the company's decision to discontinue simufilam, its failed Alzheimer's drug candidate, after disappointing Phase 3 results—a development that paradoxically sent SAVA stock soaring 50% in a single session.
Barry's buy-in at $2.13-$2.29 per share suggests institutional conviction in Cassava's remaining pipeline, despite the stock's 90% decline over the past year. TipRanks data indicates this lone insider transaction has shifted the firm's insider sentiment to Positive, with no other executives participating in recent purchases.
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