What's Going On With Alzheimer's-Focused Cassava Sciences On Tuesday?

Benzinga10-08

Last month, Cassava Sciences Inc. (NASDAQ:SAVA) agreed to pay over $40 million to resolve SEC charges over misleading statements related to a Phase 2 trial of the company’s controversial Alzheimer’s ...

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(NASDAQ:SAVA) agreed to pay over $40 million to resolve SEC charges over misleading statements related to a Phase 2 trial of the company’s controversial Alzheimer’s ...</p>\n\n<a href=\"https://finance.yahoo.com/news/whats-going-alzheimers-focused-cassava-145704485.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's Going On With Alzheimer's-Focused Cassava Sciences On Tuesday?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's Going On With Alzheimer's-Focused Cassava Sciences On Tuesday?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-08 22:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/whats-going-alzheimers-focused-cassava-145704485.html><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Last month, Cassava Sciences Inc. (NASDAQ:SAVA) agreed to pay over $40 million to resolve SEC charges over misleading statements related to a Phase 2 trial of the company’s controversial Alzheimer’s ...</p>\n\n<a href=\"https://finance.yahoo.com/news/whats-going-alzheimers-focused-cassava-145704485.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4588","symbol_name":"碎股","start_time":0,"source_url":"https://finance.yahoo.com/news/whats-going-alzheimers-focused-cassava-145704485.html","article_id":"2473046471","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/YexmaagLjksdxdjfUCpTRw--~B/aD01NjM7dz0xMDAwO2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/Benzinga/0b66022de8513dc50b4ff7c66434505c"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2473046471","pubTimestamp":1728399424,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"The SEC alsochargedHoau-Yan Wang, a consultant and co-developer of the drug, with manipulating trial results.In an open letter, Cassava President and CEO Rick Barry emphasized that the settlement, though financially significant, was necessary for the company to refocus its efforts.The firm expressed that this decision allows it to concentrate on simufilam’s development without ongoing distractions from regulatory issues.The SEC’s investigation found that inSeptember 2020, Cassava disclosed manipulated data from the trial, which falsely suggested dramatic improvements in Alzheimer’s biomarkers like total tau and phosphorylated tau.The CEO added, “In sum, we have been able to put the SEC's three-year investigation of Cassava behind us by agreeing to settle a charge of negligently making inaccurate disclosures related to our 2020 Phase 2b clinical study and paying a $40 million monetary penalty. In addition, we do not anticipate that the Department of Justice will charge the company or se","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4588":"碎股","BK4585":"ETF&股票定投概念","BK4007":"制药","SAVA":"Cassava Sciences Inc","BK4547":"WSB热门概念","SAVAW":"Cassava Sciences Warrants"},"translate_title":"专注于阿尔茨海默氏症的木薯科学周二会发生什么？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SAVA":0.9,"SAVAW":0.9},"content_text":"Last month, Cassava Sciences Inc. (NASDAQ:SAVA) agreed to pay over $40 million to resolve SEC charges over misleading statements related to a Phase 2 trial of the company’s controversial Alzheimer’s drug, simufilam.\nThe SEC also charged Hoau-Yan Wang, a consultant and co-developer of the drug, with manipulating trial results.\nIn an open letter, Cassava President and CEO Rick Barry emphasized that the settlement, though financially significant, was necessary for the company to refocus its efforts.\nThe firm expressed that this decision allows it to concentrate on simufilam’s development without ongoing distractions from regulatory issues.\nThe SEC’s investigation found that in September 2020, Cassava disclosed manipulated data from the trial, which falsely suggested dramatic improvements in Alzheimer’s biomarkers like total tau and phosphorylated tau.\nThe CEO added, “In sum, we have been able to put the SEC's three-year investigation of Cassava behind us by agreeing to settle a charge of negligently making inaccurate disclosures related to our 2020 Phase 2b clinical study and paying a $40 million monetary penalty. In addition, we do not anticipate that the Department of Justice will charge the company or seek a resolution from us.”\nWith the update, HC Wainwright has upgraded Cassava Sciences’ stock from Neutral to Buy, with a price target of $116, an upside of over 290%.\nIn the letter, Rick highlighted completing the ReTHINK Phase 3 trial, which enrolled 804 patients. Cassava expects to release top-line results before the end of the year.\nCassava is also preparing for its larger Phase 3 trial, ReFOCUS, to announce results in mid-2025.\nThe trial will involve 1,125 patients and further examine cerebrospinal fluid and plasma biomarkers, ensuring a comprehensive analysis of simufilam’s efficacy.\nHC Wainwright analyst anticipates that the results from these clinical trials will show simufilam’s potential to be the first drug to sustainably alter disease progression over a six-month treatment period in patients with mild-to-moderate Alzheimer’s disease. The analyst factors a 65% clinical program probability of success.\nPrice Action: SAVA stock is up 16.8% at $29.68 at last check Tuesday.\nPhoto via Shutterstock\nRead Next:\n\nTrump Media Stock Surges as Elon Musk Backs Trump at Pennsylvania Event.\n\nLatest Ratings for SAVA\n\n\n\nDate\nFirm\nAction\nFrom\nTo\n\n\n\n\nJan 2022\nB. Riley Securities\nMaintains\n\nBuy\n\n\nJul 2021\nHC Wainwright & Co.\nMaintains\n\nBuy\n\n\nJun 2021\nB. Riley Securities\nMaintains\n\nBuy\n\n\n\n View More Analyst Ratings for SAVA \n View the Latest Analyst Ratings \nUp Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market.\nGet the latest stock analysis from Benzinga?\n\nThis article What's Going On With Alzheimer's-Focused Cassava Sciences On Tuesday? originally appeared on Benzinga.com\n© 2024 Benzinga.com. Benzinga does not provide investment advice. 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