Why Cassava Sciences Stock Is Trading Down Today

Cassava Sciences, Inc. SAVA shares are trading lower Wednesday. The company announced the top-line clinical results from its Cognition Maintenance Study where oral simufilam in patients with mild-to-moderate Alzheimer's slowed cognitive decline.

What To Know: The drug slowed cognitive decline by 38%, versus the placebo over 6 months in patients with mild-to-moderate Alzheimer's, with effects favoring a mild form of the disease.

"Monoclonal antibody drugs have slowed cognitive decline by 35% or less in early Alzheimer's patients in large Phase 3 trials over 18 months," said James Kupiec, Chief Medical Officer. "In this context, we believe results of our 6-month study are encouraging, despite vast differences in patient selection and the design and results of our randomized withdrawal study compared to large Phase 3 trials."

Related Link: Moderna Strikes mRNA Drug Pact With Chinese Authorities: Report

SAVA Price Action: Shares of SAVA were down 14.4% at $21.67 at the time of publication, according to Benzinga Pro.

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