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 stock collapsed after an Alzheimer’s drug the company was testing failed to significantly help participants in a clinical trial. The stock plummeted 84% to $4.15 Monday after reporting that a Phase 3 trial meant to demonstrate the efficacy of a medication called Simufilam fell short of key milestones.

Cassava Sciences has revealed the late-stage clinical failure of controversial Alzheimer’s drug simulfilam. The company had pledged to share the results whether “good, bad or ambiguous.”