Cassava, Biogen lead Alzheimer's stocks higher following Roche's gantenerumab setback
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Several pharma and biotech companies working on Alzheimer's disease treatments are up in Monday trading -- notably Cassava Sciences (NASDAQ:SAVA) and Biogen (NASDAQ:BIIB) -- after Roche (OTCQX:RHHBY) reported its candidate gantenerumab failed in a phase 3 trial.

So far, Cassava (SAVA) is the bigger winner of the bunch today, up 14%. Its candidate, simufilam, is in phase 3.
Biogen (BIIB), with its phase 3 candidate lecanemab in partnership with Eisai (OTCPK:ESALY)(OTCPK:ESALF), is up 4%. In late September, lecanemab met its main goal in a late-stage trial.
Eli Lilly (NYSE:LLY), which has donanemab in phase 3, is up ~1%.
Several companies with Alzheimer's candidates in earlier stages of development are also higher: Prothena Corp. (PRTA), Annovis Bio (ANVS), and Anavex Life Sciences (AVXL).
Check out why Seeking Alpha contributor Stone Fox Capital views Biogen (BIIB) as a strong buy.