Cassava's Stock Drops After It Agrees to Pay $40M to Settle SEC Alzheimer's Claims [Yahoo! Finance]
Cassava Sciences, Inc. (SAVA)
Last cassava sciences, inc. earnings: 8/12 08:30 am
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Source: Yahoo! Finance
The SEC said that Cassava made misleading statements about a clinical trial of its Alzheimer's disease drug. Cassava in the settlement neither confirmed nor denied the charges. Study data was manipulated so that the drug appeared to have dramatic success in improving biomarkers associated with Alzheimer's, the SEC said. Cassava Sciences ( SAVA ) shares dropped more than 11% after the company agreed to a $40 million settlement with the Securities and Exchange Commission (SEC) over charges that it manipulated clinical trial data related to its Alzheimer's disease drug. The company, along with two former executives, made “misleading statements” in September 2020 about the results of a Phase 2 trial of Cassava's drug simufilam, the SEC said Thursday. The medical professor who co-developed the drug manipulated the results so that it appeared the drug had shown dramatic success treading Alzheimer's, the SEC said. The settlement was made without Cassava confirming or denying the SEC
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SAVA
News
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- What Makes Cassava Sciences (SAVA) a New Buy Stock [Yahoo! Finance]Yahoo! Finance
- Cassava Sciences, Inc. (NASDAQ: SAVA) had its "buy" rating re-affirmed by analysts at HC Wainwright. They now have a $116.00 price target on the stock.MarketBeat
SAVA
Earnings
- 11/7/24 - Beat
SAVA
Sec Filings
- 11/20/24 - Form 4
- 11/20/24 - Form 3
- 11/20/24 - Form 4
- SAVA's page on the SEC website