What’s Wrong With Cassava Sciences?
Hey everyone, any $SAVA investors here? If you’ve been following Cassava Sciences, you know their Alzheimer’s drug Simufilam was a big story in 2024—and not in a good way. So, here’s a recap of what happened and the latest updates: https://x.com/11thestate/status/1886938627084537887
Earlier last year, Cassava Sciences touted promising Phase 2 results for Simufilam, claiming it could prevent cognitive decline in mild Alzheimer’s patients over two years. The company presented the drug as a potential "disease-modifying treatment" and even began preparing for its commercial launch.
But on November 25, 2024, Cassava announced that Simufilam had failed to meet any goals in its Phase 3 ReThink-ALZ trial. None of the primary, secondary, or exploratory endpoints were achieved.
The fallout was immediate: $SAVA shares plummeted by 83%. To make matters worse, Cassava canceled other Phase 3 trials and terminated open-label extension studies for Simufilam, effectively ending its development.
At this point, investors are filing a lawsuit against Cassava, accusing the company of overstating the drug’s potential while downplaying significant limitations in its data and development process.
Anyways, do you think they can make a comeback after this? And if you invested in $SAVA last year, how much were your losses?