Cassava falls after stopping development of Alzheimer's drug

Filana Therapeutics

25/03/2025 13:17

** Shares of drug developer Cassava Sciences SAVA.O fall 21.4% to $2.20 premarket

** SAVA says it will discontinue the development of its experimental treatment, simufilam, for Alzheimer's disease, by the end of Q2

** In trials, the drug failed to significantly reduce cognitive or functional decline in patients with mild-to-moderate Alzheimer's disease, compared to placebo

** In November, co said it would stop all trials of the drug

** The drug has been at the center of scrutiny after a medical professor linked to its development was charged with fraud in June

** Stock fell 89.4% since Nov 2024

 (Reporting by Siddhi Mahatole)

 ((siddhi.mahatole@thomsonreuters.com))