Cassava Sciences settles with SEC for $40M over skewed Alzheimer’s drug data

Pharmaceuticals

A former Alzheimer’s researcher manipulated the results of a Cassava Sciences drug, with the pharmaceutical company and its former chief executive reaching a $40 million settlement with the Securities and Exchange Commission (SEC) over allegedly misleading the public.

Prior to 2020, researcher Hoau-Yan Wang, associate medical professor at City University of New York Medical School, embarked on a purported blind clinical trial of the experimental Alzheimer’s drug Simufilam.

Wang, who had a financial stake in the outcome of the drug trial, found out which patients had taken the drug in a third of cases and skewed the data to make the drug look dramatically more effective, the SEC alleged in it order against Wang.

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