Cassava Sciences, Inc. ( SAVA ) saw its stock price soar Friday, possibly amid rising short interest and an anticipated conference call to discuss recent developments.

What To Know: The company’s short percent of float has risen by 23.21% since its last report, with 16.13 million shares sold short, accounting for 35.89% of the total float. It would take traders an average of 4.75 days to cover their short positions based on the current trading volume.

What Else: Cassava Sciences ( SAVA ) is set to hold a conference call on Thursday August 8 2024, to discuss recent developments and provide a company update. Analysts expect the company to report earnings per share (EPS) loss of $0.40.

Earlier this week, Cassava also announced plans to extend its open-label extension trials for simufilam by up to 36 months. This will allow patients from previous trials to continue their treatment while awaiting Phase 3 trial results.

SAVA Price Action: Cassava Sciences ( SAVA ) shares were up by 24.4% at $29.21 according to Benzinga Pro.

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Image: Courtesy of Cassava Sciences ( SAVA ).