Why Cassava Sciences Stock Is Trading Higher Today

Cassava Sciences Inc (NASDAQ: SAVA) is trading higher Tuesday after the company was informed by Neuroscience journal that there was no evidence to support data manipulation claims in a 2005 company-authored paper.

In August, a law firm representing admitted short sellers submitted a petition that alleges data manipulation in scientific articles authored by Cassava scientists.

Having completed a careful examination of the data, Neuroscience said it "found no evidence of manipulation of the Western blot data or other figures of this publication."

"Another science journal has cleared us of allegations," said Remi Barbier, president and CEO of Cassava. "This clearance is from an independent third party who is neutral and expert in the field. This reinforces my conviction that false and misleading allegations of scientific misconduct being made against us are simply designed to enrich those making them."

Cassava is a clinical-stage biotechnology company engaged in developing a scientific approach for the treatment and detection of Alzheimer's disease. Cassava was the top trending stock on Stocktwits at publication time.

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SAVA Price Action: Cassava has traded as high as $146.16 and as low as $6.70 over a 52-week period.

The stock was up 17.40% at $43.10 at time of publication.

Photo: kkolosov from Pixabay.