Mon Nov 25 12:50:00 UTC 2024: ## Cassava Sciences’ Alzheimer’s Drug Fails in Phase 3 Trial; Stock Expected to Plummet

**AUSTIN, Texas (November 25, 2024)** – Cassava Sciences, Inc. (NASDAQ: SAVA) announced today that its Phase 3 ReThink-ALZ clinical trial for simufilam, a potential Alzheimer’s disease treatment, failed to meet its primary endpoints. The trial, evaluating simufilam in patients with mild-to-moderate Alzheimer’s, showed no statistically significant difference between the drug and a placebo in improving cognition or function after 52 weeks.

This negative outcome led Cassava to halt its second Phase 3 trial, ReFocus-ALZ, and an associated open-label extension study. While simufilam maintained a favorable safety profile, the company acknowledged the results are “disappointing” and represent a major setback for its Alzheimer’s disease program.

The unexpected low rate of cognitive decline in the placebo group has raised concerns about the trial design and patient selection. Cassava plans to present a detailed analysis of the data at a future medical meeting.

Despite possessing approximately $149 million in cash and cash equivalents as of Q3 2024, the company faces significant challenges in its future development plans. Analysts predict significant stock price volatility and a potential market cap erosion following this announcement. The company will hold a webcast today at 8 AM ET to discuss the results further. The future of simufilam as an Alzheimer’s treatment is currently uncertain.

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