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 Inc.’s stock tumbled 85% Monday to put it on track for its biggest-ever one-day decline, after the clinical-stage biotech company said a trial of a treatment for mild to moderate Alzheimer’s disease failed to meet its main goals.

Following the ReThink study failure, Cassava Sciences is discontinuing the Phase III ReFocus trial and open-label study.