{"id":4410,"date":"2024-10-08T15:54:35","date_gmt":"2024-10-08T07:54:35","guid":{"rendered":"https:\/\/flcube.com\/?p=4410"},"modified":"2024-10-24T22:25:03","modified_gmt":"2024-10-24T14:25:03","slug":"cassava-sciences-to-pay-over-usd-40-million-to-settle-sec-charges-over-alzheimers-drug-claims","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=4410","title":{"rendered":"Cassava Sciences to Pay Over USD 40 Million to Settle SEC Charges Over Alzheimer\u2019s Drug Claims"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The US Securities and Exchange Commission (SEC) has announced that US-based biotech firm Cassava Sciences Inc., along with its founder and former CEO Remi Barbier, and a former vice-president of neuroscience, have consented to pay in excess of USD 40 million to settle allegations of misleading statements concerning the efficacy of their lead Alzheimer\u2019s disease pipeline candidate, simufilam. The settlement, as per Cassava&#8217;s statement, does not constitute an admission or denial of the charges but signifies the company\u2019s comprehensive cooperation with the SEC\u2019s inquiry.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The SEC&#8217;s investigation focused on statements issued in September 2020 regarding the outcomes of a Phase II clinical trial for simufilam. It was alleged that data from this trial had been manipulated by a Cassava consultant, Dr. Hoau-Yan Wang, a medical professor at the City University of New York. Wang is said to have received unblinded information during the analysis phase, which he used to overstate the effects of simufilam on total tau and phosphorylated tau levels. The company subsequently published these analyses.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Cassava has indicated that simufilam is still under evaluation in a Phase III clinical trial and maintains optimism about potentially delivering a novel treatment option for Alzheimer&#8217;s disease patients in the future.- <a href=\"https:\/\/flcube.com\">Flcube.com<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US Securities and Exchange Commission (SEC) has announced that US-based biotech firm Cassava Sciences&#8230;<\/p>\n","protected":false},"author":1,"featured_media":4411,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAownpewDA:productID":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7],"tags":[30],"class_list":["post-4410","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company","tag-biotech"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.5 (Yoast SEO v27.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Cassava Sciences to Pay Over USD 40 Million to Settle SEC Charges Over Alzheimer\u2019s Drug Claims - Insight, China&#039;s Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"The US Securities and Exchange Commission (SEC) has announced that US-based biotech firm Cassava Sciences Inc., along with its founder and former CEO Remi Barbier, and a former vice-president of neuroscience, have consented to pay in excess of USD 40 million to settle allegations of misleading statements concerning the efficacy of their lead Alzheimer\u2019s disease pipeline candidate, simufilam. 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