Why Cassava Sciences Is Plunging Again Today
Shares of Cassava Sciences (NASDAQ: SAVA) are falling off a cliff yet again today, down 25% to $53 apiece as of 10:30 a.m. EDT. The company is investigating its lead drug candidate, simufilam, for treating Alzheimer's disease.
On Aug. 27, Quanterix (NASDAQ: QTRX), a third-party lab involved in the sample testing of simufilam's disputed phase 2 results, released a statement saying that it "did not interpret the test results or prepare the data charts" regarding a key presentation on simufilam during the Alzheimer's Association International Conference (AAIC) last month. Two days prior, Cassava Sciences argued for the independency of its result in the presentation by claiming Quanterix had generated them.
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Source Fool.com
