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What will be the outcome of the legal challenges faced by Cassava Sciences by September 26, 2025?
2
Resolution / Starting Odds
Favorable ruling for Cassava Sciences • 25%
Unfavorable ruling for Cassava Sciences • 25%
Settlement • 25%
Case dismissed • 25%
Court rulings, settlements, and news reports
Story
Cassava Sciences Settles with SEC for $40M Over Falsified Alzheimer's Drug Data; Barbier and Burns Named
Sep 26, 2024, 09:57 PM
Cassava Sciences, Inc. ($SAVA) and its executives have settled with the Securities and Exchange Commission (SEC) for $40 million over allegations of falsifying phase 2 trial data for their Alzheimer's drug, simufilam. The SEC charges revealed that the placebo outperformed both doses of the drug, and the original data showed no measurable cognitive improvement in patients' episodic memory. CEO Rick Barry admitted discrepancies between Quanterix data and Wang's CUNY data. The company faces significant legal challenges and investor skepticism, with its current cash position at approximately $200 million and a burn rate of $80 million per year. Remi Barbier and Lindsay Burns were also named in the SEC charges.
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Cassava Sciences wins the lawsuits • 25%
Cassava Sciences settles the lawsuits • 25%
Cassava Sciences loses the lawsuits • 25%
Lawsuits are dismissed • 25%
Yes • 50%
No • 50%
Results lead to renewed interest • 25%
Results confirm initial failure • 25%
Mixed reception from the scientific community • 25%
No significant impact • 25%
New Alzheimer's drug candidate announced • 25%
Focus shifts to different therapeutic area • 25%
Company gets acquired • 25%
Continues current operations without major changes • 25%
Outperforms • 33%
Performs similarly • 34%
Underperforms • 33%
Profitable • 25%
Break-even • 25%
Loss-making but stable • 25%
Facing financial distress • 25%
Yes • 50%
No • 50%
Successful with measurable cognitive improvement • 25%
Partially successful with some cognitive improvement • 25%
Unsuccessful with no cognitive improvement • 25%
Trial canceled or postponed • 25%