Cassava Sciences' Stock Crashes After Alzheimer's Drug Fails Phase 3 Trials
Cassava Sciences' stock plummeted by 80% in premarket trading after its Alzheimer's drug, Simufilam, failed to show significant efficacy in a late-stage trial. The company announced it would discontinue further studies of the drug, which was intended for mild-to-moderate Alzheimer's patients. This setback follows a $40 million settlement with the SEC over allegations of clinical trial data manipulation.
