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 (NASDAQ: 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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