Keep an eye on Cassava Sciences (SAVA).
For the second time, Cassava Sciences (SAVA) took a hit on allegations of wrongdoing.
In fact, over the last week, shareholder firm Labaton Sucharow claims the “scientific experiments backing Cassava’s drug, simufilam, are impossible and the biomarker discrepancies ‘are so extreme they suggest lab errors or manipulation.’ Further, the firm claims the results of clinical studies suggest Cassava cherry-picked its patients.”
We believe these accusations will blow over.
Plus, the company doesn’t seem too concerned, having just initiated its second Phase 3 study of study of simufilam, the Company’s investigational drug for patients with Alzheimer’s disease.
“Alzheimer’s disease isn’t going away anytime soon, and neither are we,” said Remi Barbier, President & CEO, as noted in a company press release. “Developing a new drug solution for Alzheimer’s is a daunting task during the best of times. During these times of outlandish allegations made against us by short sellers, we stand committed to translate what we believe is a promising scientific breakthrough into a potentially meaningful treatment for people with Alzheimer’s disease. The rest is noise.”
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