Here's Why Cassava Sciences Is Having a Bad Day

Cassava Sciences (NASDAQ: SAVA) stock started Wednesday in the dumps after responding to a citizen petition that the Food and Drug Administration acknowledged on Monday. Shares of the clinical-stage drugmaker were down 21% as of 10:55 a.m. EDT on Wednesday.

As a pre-commercial company without any revenue yet, all eyes are on its Alzheimer's disease candidate called simufilam. Since this is the company's only new drug candidate in clinical trials, news of any potential problem can lead to swift and heavy losses.

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Source Fool.com