2024-07-01 14:10:25 ET
Summary
- Cassava Sciences stock hits the lowest value since January 2021 last week, dropping 35% after key scientific advisor Dr. Hoau-Yan Wang was indicted for alleged fraud.
- Cassava's Phase 3 clinical trials for Alzheimer's drug simufilam continue, despite doubts raised about data integrity and potential falsification by Dr. Wang.
- Uncertainty looms over Cassava's future as Phase 3 study results are awaited, with potential implications for the company's stock price and management team.
Investment Overview - Fresh Woes, Fresh Lows As Cassava Collaborator Is Indicted
Cassava Sciences ( SAVA ) stock sank to its lowest level since January 2021, falling 35% on Friday to a price of $12.40, at the end of last week, as it was reported that a key scientific advisor to the company for nearly two decades, Dr. Hoau-Yan Wang, had been indicted for "allegedly defrauding the US National Institutes Of Health ("NIH")"....
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Cassava Sciences: Latest Blow To Simufilam Thesis As Key Former Advisor Indicted