** Shares of drug developer Cassava Sciences SAVA.O fall 21.4% to $2.20 premarket
** SAVA says it will discontinue the development of its experimental treatment, simufilam, for Alzheimer's disease, by the end of Q2
** In trials, the drug failed to significantly reduce cognitive or functional decline in patients with mild-to-moderate Alzheimer's disease, compared to placebo
** In November, co said it would stop all trials of the drug
** The drug has been at the center of scrutiny after a medical professor linked to its development was charged with fraud in June
** Stock fell 89.4% since Nov 2024
(Reporting by Siddhi Mahatole)
((siddhi.mahatole@thomsonreuters.com))
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