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On November 25, 2024, Cassava “today announced that the topline results from the Phase 3 ReThink-ALZ study of simufilam in mild-to-moderate AD [Alzheimer’s Disease] did not meet each of the pre-specified co-primary, secondary and exploratory biomarker endpoints. In particular, the treatment did not show a significant reduction in cognitive or functional decline as compared to the placebo group. Cassava further “made the difficult decision to discontinue ReFocus-ALZ,” which was also in a Phase 3 trial, as well as the Open Label Extension Study, “given the nature of today’s reported results.”
Following this news, Cassava’s stock price fell by $21.91 per share and is currently trading at $4.57 per share.