SAN FRANCISCO, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Hagens Berman urges Cassava Sciences, Inc. (NASDAQ: SAVA) investors with significant losses to submit your losses now.
Visit: www.hbsslaw.com/investor-fraud/SAVA
Contact An Attorney Now: SAVA@hbsslaw.com
844-916-0895
Cassava Sciences, Inc. (SAVA) Investigation:
The investigation focuses on whether Cassava misled investors about the integrity of preliminary analysis of a small clinical trial of the company’s Alzheimer’s drug, simufilam.
On July 29, 2021 Cassava announced what they claimed were positive clinical data from an interim analysis of an open-label study with simufilam and said the drug improved cognition of Alzheimer’s patients.
But on July 30, 2021, health and medicine news site STAT reported Alzheimer’s scientists not involved in Cassava’s study said the company’s cognitive benefit claim was exaggerated and not supported by the design of the clinical trial. Scientists reportedly said Cassava’s conclusions were “overblown”, “inappropriate”, “naive”, and “uninterpretable".
Then, on Aug. 18, 2021, a citizen petition was submitted to the FDA asking the FDA to halt all ongoing studies with simufilam while the agency verifies data the company has submitted so far. The petition raises serious concerns about the quality and integrity of the laboratory-based studies surrounding this drug candidate. The petition further identified “errors and anomalies” in the data “of a sufficient frequency and magnitude to strongly suggest scientific misconduct.”
These events sent the price of Cassava shares sharply lower.
“We’re focused on investors’ losses and whether Cassava manipulated clinical data for simufilam,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Cassava and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Cassava should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email SAVA@hbsslaw.com.
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Contact:
Reed Kathrein, 844-916-0895
