What Happened: Cassava presented Phase 2 results from an open-label safety study with exploratory efficacy endpoints for simufilam, its oral drug candidate for Alzheimer's disease dementia.

The study enrolled over 200 patients with mild-to-moderate Alzheimer's disease. Study participants were administered open-label simufilam tablets twice daily for one year. Endpoints were measured at study entry and again after 12 months.

Here's a look at the results (lower is better, except for MMSE).

• ADAS-Cog11 scores changed from 19.1 (±9.2) to 19.6 (±13.3)
• MMSE scores changed from 21.5 (±3.6) to 20.2 (±6.4)
• NPI10 scores changed from 3.2 (±4.6) to 2.9 (±4.6)
• GDS scores changed from 1.8 (±1.8) to 1.4 (±1.9)

The company noted that scores that changed minimally or improved over a one-year period represent "highly desirable" outcomes because of the severity of Alzheimer's and the toll it takes on the brain over time. 

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SAVA Price Action: Cassava has a 52-week high of $62.49 and a 52-week low of $13.84.

The stock was down 15.9% at $30.65 at time of publication, according to Benzinga Pro.

Photo: hainguyenrp from Pixabay.