AVXL - Anavex Cassava and Cyclo slump as Alzheimer's med-buoyed rally cools

Shares of Anavex Life Sciences (AVXL), Cassava Sciences (SAVA), and Cyclo Therapeutics (CYTH) are all down significantly in afternoon trading.The biopharmas, all of which are working on candidates to treat Alzheimer's disease, have had the quite the run-up this week.In the last five days, Anavex was up 135%, Cassava was up nearly 239%, and Cyclo up 119%.Anavex’s lead asset, Anavex2-73, is currently undergoing a Phase 2b/3 study in Alzheimer’s disease. The enrollment was 80% complete, and full enrollment of 450 patients is expected early this year.Earlier this week, Cassava released positive interim data from an open-label study of its lead asset, simufilam.According to the company’s latest quarterly filing, Cyclo has struck an agreement with a contract research organization for a clinical trial to evaluate the safety and efficacy of Trappsol Cyclo for the treatment of Alzheimer’s.In afternoon trading, Anavex is down 12.6% to $13.03, Cassava is down 20.4% to $50.51, and Cyclo is down 17% to $10.91.

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Anavex, Cassava, and Cyclo slump as Alzheimer's med-buoyed rally cools