Cassava shares suffer again after news of SEC probe
Shareholders in US biotech Cassava Sciences (Nasdaq: SAVA) continue to endure a bumpy ride, with the stock’s value plummeting by 24% on Wednesday.
Shares in Cassava have risen by nearly 600% over the year as a whole but they have zigzagged in recent months amid questions about the firm’s scientific integrity.
"We have been cooperating and will continue to cooperate with government authorities"The stock had recovered somewhat since August’s allegations, filed by a lawyer on behalf of unnamed clients, claiming that some results on the Alzheimer’s candidate simufilam appeared to suggest data manipulation.
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