Cassava Sciences Issues Statement On Former Science Advisor; Says 'Dr. Wang And His Former Public University Medical School Have Had No Involvement In The Company's Phase 3 Clinical Trials Of Simufilam, Simufilam Is The Company's Lead Drug Candidate Proposed For Treatment Of Alzheimer's Disease.'
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Cassava Sciences (NASDAQ:SAVA) issued a statement regarding the indictment of former science advisor Dr. Hoau-Yan Wang for allegedly defrauding the NIH. The company clarified that Dr. Wang and his former university had no involvement in the Phase 3 clinical trials of their lead drug candidate, Simufilam, for Alzheimer's treatment.
June 28, 2024 | 8:00 pm
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Cassava Sciences clarified that Dr. Wang, indicted for defrauding the NIH, had no involvement in the Phase 3 trials of Simufilam, their Alzheimer's drug candidate.
The indictment of a former advisor for defrauding the NIH could negatively impact investor sentiment. However, the company's clarification that Dr. Wang had no involvement in the critical Phase 3 trials of Simufilam may mitigate some concerns.
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