Cassava Plunges After Alzheimer’s Data Draws Scrutiny, Shorts
- Former SEC lawyer raises concern over quality of trial results
- Stock still up 1,086% this year on Alzheimer’s drugs optimism
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Cassava Sciences Inc. plummeted 31% on Wednesday after a lawyer sought to stop studies of the biotech company’s experimental treatment for Alzheimer’s disease.
A citizen petition from a former Securities and Exchange Commission enforcement lawyer questioned the quality and integrity of the results from the more than 20-year-old company with no products on the market.