See Why Cassava Sciences Shares Are Falling On Wednesday?

See Why Cassava Sciences Shares Are Falling On Wednesday?
  • The Wall Street Journal reported that the SEC had launched a probe into claims that Cassava Sciences Inc SAVA manipulated data key to its case for its experimental Alzheimer’s drug simufilam.
  • The report comes just two days after Cassava, in an SEC filing, revealed that “certain government agencies” had asked the Company for documentation. 
  • It wasn’t clear which agencies were inquiring or what information they sought, and Cassava did say that the requests weren’t accusations of wrongdoing.
  • Now, with the SEC’s involvement, regulators will take a close look at claims dating to August that Cassava manipulated Western blot images used to back its drug’s case. 
  • In November, the Journal of Neuroscience, which published one of the simufilam papers in question, said an internal review found no instances of data manipulation. However, the journal did find a duplicated image and issued a correction.
  • Price Action: SAVA shares are down 22.4% at $47.85 during the market session on the last check Wednesday.
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