Cassava Shares Drop Following Report of SEC Investigation
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Cassava Sciences Inc. shares dropped following a report that the Securities and Exchange Commission has begun an investigation of the pharmaceutical company.
Securities regulators are examining claims that the company manipulated research results of its experimental Alzheimer’s disease treatment, the Wall Street Journal reported citing unnamed people familiar with the matter. The National Institutes of Health, which provided grants to the company and its academic collaborators, is also looking into the claims, the Journal reported.