SEC Charges Cassava Sciences Over Manipulated Alzheimer's Trial Data, Company And Former Execs Agree To Pay Penalty
Portfolio Pulse from Vandana Singh
Cassava Sciences Inc (NASDAQ:SAVA) and its executives have agreed to pay over $40 million to settle SEC charges of manipulating Alzheimer's drug trial data. The SEC found that Cassava misled investors by promoting false efficacy data for its drug simufilam. The company's stock is down 10.90% in premarket trading.
September 27, 2024 | 12:28 pm
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Cassava Sciences faces SEC charges for manipulating Alzheimer's drug trial data, resulting in a $40 million penalty. The company's stock is down 10.90% in premarket trading.
The SEC charges against Cassava Sciences for manipulating trial data are significant, leading to a substantial financial penalty and a ban on executives. This legal issue has directly impacted investor confidence, as reflected in the 10.90% drop in premarket stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100