Inc. (NASDAQ: SAVA) witnessed a dramatic over 85% plunge in its stock price following the release of disappointing results from a critical Phase 3 Alzheimer’s drug trial and

Cassava Sciences’ phase 3 Alzheimer’s disease trial has missed its co-primary endpoints. With the study also missing secondary and exploratory biomarker endpoints, the biotech has pulled the plug on another phase 3 trial and an open-label extension.

Cassava Sciences' Alzheimer's drug simufilam failed its Phase 3 trial and the stock plummeted ~90%. See why I changed my rating on SAVA to Sell from Strong Sell.