Alzheimer’s drug developer Cassava Sciences found its stock down by 19% in pre-market trading Wednesday morning, following allegations against the quality and integrity of its preclinical and clinical data made in a citizen petition to the U.S. Food and Drug Administration (FDA). The petition was posted on Monday by shareholder rights law firm Labaton Sucharow.
Texas-based Cassava, whose mission is to develop innovative treatments for neurodegenerative conditions, is developing simufilam, an investigational small molecule drug that aims to restore the normal shape and function of altered scaffolding protein, filamin A (FLNA), in the brain.
Jordan Thomas, partner and chair of the whistleblower representation practice at Labaton Sucharow, requested that federal regulators put a halt to Cassava’s clinical trials, suggesting that some of the company’s results appeared to show signs of data manipulation.
“This report raises concerns about the quality and integrity of the laboratory-based studies surrounding this drug candidate,” the