Cassava Shares Are Down Over 30%: Here's Why
Portfolio Pulse from Vaishali Prayag
Cassava Sciences, Inc. (NASDAQ:SAVA) shares plummeted over 30% following the indictment of Hoau-Yan Wang, a company advisor, for fabricating scientific data in NIH grant applications, leading to the misappropriation of $16 million in federal funds for Alzheimer's research.
June 28, 2024 | 8:00 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Cassava Sciences shares dropped significantly after the indictment of advisor Hoau-Yan Wang for fabricating data in NIH grant applications, leading to the misappropriation of $16 million in federal funds.
The indictment of a key advisor for fabricating scientific data and misappropriating federal funds directly impacts investor confidence in Cassava Sciences, leading to a significant drop in share price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100