SEC Charges Cassava Sciences Over Manipulated Alzheimer's Trial Data, Company And Former Execs Agree To Pay Penalty

Alzheimer's drug developer Cassava Sciences Inc SAVA, its founder Remi Barbier, and former Senior VP of Neuroscience Lindsay Burns have 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. The SEC also charged Hoau-Yan Wang, a consultant and co-developer of the drug, with manipulating trial results. The SEC's investigation found that in September 2020, Cassava disclosed manipulated data from th ...