Cassava Sciences Plunges 20.71% on Failed Alzheimer's Drug Trial

On March 25, 2025, Cassava Sciences experienced a significant drop of 20.71% in pre-market trading.

Cassava Sciences recently announced the topline results from its Phase 3 REFOCUS-ALZ study, which evaluated the efficacy of simufilam in patients with mild-to-moderate Alzheimer's disease. Unfortunately, the study did not demonstrate a significant reduction in the co-primary endpoints of cognitive or functional decline. This disappointing outcome has raised concerns among investors about the future prospects of simufilam and the company's overall pipeline.

The company had previously reported its 2024 financial results and provided a business update, highlighting the importance of the REFOCUS-ALZ study in its strategic plans. The negative results from this study have cast a shadow over the company's financial performance and future growth prospects, leading to a sharp decline in investor confidence.