SEC Charges Cassava Sciences Over Manipulated Alzheimer's Trial Data, Company And Former Execs Agree To Pay Penalty [Yahoo! Finance]
Cassava Sciences, Inc. (SAVA)
Last cassava sciences, inc. earnings: 8/12 08:30 am
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Source: Yahoo! Finance
Barbier , and former Senior VP of Neuroscience Lindsay Burns have agreed to pay over $40 million to resolve SEC charges over misleading statements related to a Phase 2 trial of the company's controversial Alzheimer's drug, simufilam The SEC also charged Hoau-Yan Wang , a consultant and co-developer of the drug, with manipulating trial results. The SEC's investigation found that in September 2020 , Cassava disclosed manipulated data from the trial, which falsely suggested dramatic improvements in Alzheimer's biomarkers like total tau and phosphorylated tau. According to the SEC, Dr. Wang, who was unblinded to certain trial data, used this knowledge to select a subset of patients, creating an illusion of significant efficacy. Cassava later published this manipulated data in a press release and investor deck. Further allegations highlight that Cassava and its executives, including Barbier and Burns, misled investors by promoting the drug's ability to improve cognition in Alzhei
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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