Cassava Sciences update: SAVA stock price collapses after much-criticized Alzheimer’s drug flops

Shares in the pharmaceutical company fell a staggering 85% on Monday after it reported disappointing Phase 3 results, but its problems started way before that.

In March, pharmaceutical company Cassava Sciences made headlines for a report by the Food and Drug Administration (FDA) that cast doubt on the positive trial results of its novel Alzheimer’s drug, simufilam.