SAVA shares decline after refuting new claims on the issue of data manipulation

cassava science SAVA refuted reports on Friday that it had received a “letter of termination” from US officials about an investigation into its experimental Alzheimer’s drug — and SAVA’s shares have plunged.




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The news continues on the cassava road trip. Last November, the Securities and Exchange Commission opened an investigation into cassava research for simofilam. Cassava is being tested as a drug in Alzheimer’s patients. But the scientists – who also held short positions in SAVA’s stock – claimed that the cassava tampered with the images used in testing the drug.

On Thursday, a widely circulated report indicated that the Securities and Exchange Commission recommended closing the investigation. Uploaded the date Monday. the problem? Cassava says she has not received any update from the agency.

In a report from the Securities and Exchange Commission, Cassava said the company was unable to prove the legitimacy of communications circulating on the media, or elsewhere, that were allegedly sent by one of these government agencies following a request for public access to private records made under the Freedom Act. the information. .

In response, SAVA stock fell 18% to 41.87 in the stock market today. That was reversed from a jump of nearly 36% on Thursday. Cassava did not respond to a request for comment.

SAVA Stock: Stabilizes a Key Protein

Allegations of data manipulation have weighed on SAVA stocks since last year. Scientists at the Allegations Center also asked the Food and Drug Administration to suspend studies of cassava. But the agency refused to do so.

According to Cassava, simufilam works by stabilizing an abnormal protein in the brain.

Thursday’s news pushed Sava’s stock to its highest point since February. Stocks have continued their recent rally above their major moving averages, according to MarketSmith.com. Despite the decline on Friday, stocks remained above the 50-day and 200-day lines.

SAVA stock also has a solid relative strength rating of 97, an indicator of 12 month performance. The best-performing stocks have an RS rating of at least 80, according to IBD Digital.

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