(NY Times) Shares of biotech firm Cassava Sciences plunged 24% in premarket on Tuesday after more researchers faulted its trial results for the experimental Alzheimer drug.
Cassava claimed, last summer, that its experimental drug, simufilam, improved cognition in patients with Alzheimer in a small clinical trial. The biotech said the study results were promising in the treatment of the disease, initiating a larger trial of the drug later.
Scientists are now skeptical of Cassava’s claims, pointing out that its studies were flawed, including the methods and results.
Although families of some trial participants reportedly said they see improvements, critics pointed out that the trials lacked a placebo group. They say there was inadequate long-term follow up to confirm the genuineness of the improvements.
Other scientists accuse Cassava of manipulating the scientific results. The scientists have, in the past, pointed to errors in the images in a study published in the Journal of Neuroscience.
A newcomer in Alzheimer’s research, Cassava continues to face a reputation crisis over its study for the experimental drug, which promises relief to about six million Americans with the disease. The number of Americans with Alzheimer’s is expected to double by 2050, with an effective treatment in the area seen as lucrative.
SAVA: NASDAQ is down -24.93% on premarket.
