08:13 AM EST, 11/25/2024 (MT Newswires) -- Cassava Sciences ( SAVA ) said Monday that its late-stage trial of simufilam in mild-to-moderate Alzheimer's disease did not meet the co-primary endpoints of cognitive and functional improvement.

Secondary and exploratory biomarker endpoints also were not met, the clinical-stage company said, adding that the drug maintained a favorable safety profile despite the trial outcomes.

Shares of the company were down 83% in recent premarket activity.

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