Published on 18 Nov 2021 on Zacks via Yahoo Finance
Cassava (SAVA) Down on Report of SEC Investigation Into AD Program
Shares of Cassava Sciences, Inc. SAVA plunged 23.7% after an article was published in The Wall Street Journal, which reported that the Securities and Exchange Commission (“SEC”) is investigating allegations against the company.
The allegations relate to claims of manipulation of results by the company of its investigational candidate, simufilam for the treatment of Alzheimer's disease (AD).
Earlier in the week, in a SEC filing, Cassava stated that certain government agencies have asked it to provide them with corporate information and documents. The names of these agencies were not disclosed by the company.