Cassava Sciences shares plummet as Alzheimer's drug fails in late-stage study

Filana Therapeutics

25/11/2024 17:08

(Updates)
    ** Shares of drug developer Cassava Sciences  SAVA.O 
decline as much as 86% to $3.70, hitting lowest levels since
September, 2020 
        ** Stock on track for its largest one-day percentage
decline 
  
    ** Experimental Alzheimer's disease drug, simufilam, did not
meet the main and secondary goals in a late-stage study - SAVA
    ** Company will discontinue a second late-stage study, as
well as an open-label study of the drug
    ** Reviewing full data from the trial and will assess next
steps - Cassava Sciences 
    ** Up to the previous session's close, shares up 17.6%​ YTD
    
  

 (Reporting by Joao Manuel Mauricio and Bhanvi Satija in
Bengaluru)