On Monday, Cassava Sciences (NASDAQ:SAVA) shares received a reiterated Hold rating from Jones Trading following the announcement of its Phase 3 RETHINK-ALZ trial results for Alzheimer's disease. The trial did not meet its co-primary endpoints, as disclosed in a recent press release. The analysis, which included mild and moderate sub-groups of Alzheimer's patients, failed to show statistical significance at week 52 on either primary endpoint.
The company's management has indicated plans to present the full trial results at an upcoming medical meeting. Despite initial expectations of a more pronounced drug effect in the mild patient subgroup, the trial's placebo group exhibited a lower-than-anticipated decline in cognitive function. This outcome was not in line with historical data on Alzheimer's disease progression.
Cassava Sciences' stock rating remains unchanged at Hold, as the trial's outcomes did not provide the anticipated evidence to support a more positive assessment. The trial's inability to meet the primary endpoints has led to a reassessment of the drug's efficacy in treating Alzheimer's disease.
The company's focus will now shift to the detailed analysis of the trial data and the subsequent presentation of findings to the medical community. Cassava Sciences is expected to delve into the specifics of the trial's results, which could offer insights into the next steps for the company's Alzheimer's disease program.
Investors and stakeholders will be looking forward to the full results presentation, which will provide a clearer picture of Cassava Sciences' path forward in the development of treatments for Alzheimer's disease. The Hold rating reflects a cautious approach by Jones Trading in light of the recent trial outcomes.
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