The biotechnology company Cassava Sciences failed on Wednesday to end a malicious prosecution lawsuit by doctors and short-sellers who expressed doubts about its experimental, soon-to-be-discontinued Alzheimer's drug simufilam.

Cassava Sciences is ending simufilam development for Alzheimer's after Phase 3 trials failed. The company is shifting focus to potential seizure treatments.

Cassava said that it will discontinue all efforts to develop simufilam and expects to phase out the program by the end of the second quarter. Still, the biotechnology company said it has begun preclinical studies to see if simufilam would be viable as a treatment for Tuberous Sclerosis Complex-related epilepsy.