Simufilam's Phase 3 Alzheimer's Trial Fails to Meet Endpoint Cassava Sciences (SAVA.US) Crashes Over 84%

On Monday, Cassava Sciences (SAVA.US) stock plunged over 84% to $4.06 at the time of writing. The company said that the preliminary results of its 3rd phase ReThink-ALZ study of simufilam for mild to moderate Alzheimer's disease did not meet the pre-defined primary, secondary, and exploratory biomarker endpoints.

"The results are disappointing for patients with the disease and their families, as well as for physicians who have been looking for new treatment options," said Rick Barry, president and CEO of the company. "Given today's results, we have made the difficult decision to stop the Refocus-ALZ trial, which will provide a complete 52-week dataset as well as a significant portion of the 76-week dataset. We plan to report a detailed analysis of both studies in the future. We will also terminate the open-label extension study."