Cassava Sciences Issues Statement On Allegations - Quick Facts

(RTTNews) - Responding to certain claims posted on-line on Tuesday after market hours, Cassava Sciences, Inc. (SAVA) said it is important for stakeholders to separate fact from fiction. The company noted that these claims regarding scientific integrity are false and misleading. Shares of Cassava Sciences were down 26% in pre-market trade on Wednesday.

Cassava Sciences said its plasma p-tau data from Alzheimer's patients was generated by Quanterix Corp., an independent company.

On Tuesday, Cassava Sciences reached an agreement with the FDA under a Special Protocol Assessment for both of its pivotal phase 3 studies of oral simufilam for the treatment of patients with Alzheimer's disease. The company also reaffirmed prior guidance to advance simufilam into a phase 3 pivotal program in Alzheimer's disease in fall 2021.