By Will Feuer
Clinical-stage biotech company Cassava Sciences Inc. said the Journal of Prevention of Alzheimer’s Disease found no compelling evidence of data manipulation in a 2020 paper about the company’s drug, simufilam, co-authored by the staff and collaborators of the company.
A related investigation by academic authorities at the City University of New York is still ongoing, the company said.
“We find no compelling evidence of data manipulation or intent to mislead, and are therefore taking no action regarding the published article,” the Journal of Prevention of Alzheimer’s Disease told the company Monday, according to Cassava. Science.
Shares of Cassava Sciences jumped nearly 22% to $31.33 in morning trading.
“From the start, I have said that the research misconduct allegations are false, and for good reason – I see no evidence to support these allegations,” said Cassava Sciences chief executive Remi Barber.
“I hope written statements from neutral and independent scientific experts will help close the chapter of baseless attacks on our science. At some point, it becomes irrational for our critics to repeat over and over again the same tired old mantra of data manipulation,” he added.
In July, shares of Cassava Sciences plunged after Reuters reported that the US Department of Justice had opened a criminal investigation into whether the Austin, Texas-based company had manipulated research results for its experimental drug against Alzheimer’s disease. The company has denied any allegations of wrongdoing.
Write to Will Feuer at [email protected]