See Why Cassava Sciences Shares Are Falling On Wednesday?

The Wall Street Journal reported that the SEC had launched a probe into claims that Cassava Sciences Inc SAVA manipulated data key to its case for its experimental Alzheimer’s drug simufilam.
The report comes just two days after Cassava, in an SEC filing, revealed that “certain government agencies” had asked the Company for documentation.
It wasn’t clear which agencies were inquiring or what information they sought, and Cassava did say that the requests weren’t accusations of wrongdoing.
Now, with the SEC’s involvement, regulators will take a close look at claims dating to August that Cassava manipulated Western blot images used to back its drug’s case.
In November, the Journal of Neuroscience, which published one of the simufilam papers in question, said an internal review found no instances of data manipulation. However, the journal did find a duplicated image and issued a correction.
Price Action: SAVA shares are down 22.4% at $47.85 during the market session on the last check Wednesday.