Cassava to discontinue development of Alzheimer's disease drug
March 25 (Reuters) - Cassava Sciences (SAVA.O), opens new tab said on Tuesday it will discontinue the development of its experimental treatment simufilam for Alzheimer's disease, after data showed the drug did not meet the main and secondary goals in a late-stage trial.
The drug developer's shares were up nearly 2% in premarket trading.
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The late-stage trial had the main and secondary goals of significantly reducing cognitive and functional decline in patients with mild-to-moderate Alzheimer's disease.
Simufilam has been at the center of scrutiny after a medical professor linked to its development was charged with fraud in June.
The company expects to phase out the program by the end of the second quarter, it said.
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