Biotech company Cassava Sciences (NASDAQ:SAVA) is known for its Alzheimer’s drug, currently in phase three clinical trials. The stock has gained triple digits so far this year. However, with the SEC investigating claims that the company allegedly manipulated its prior clinical trial results, is SAVA an ideal investment now? Read more to find out.Biopharmaceutical company Cassava Sciences, Inc. (SAVA) shot to the limelight earlier this year following the positive results from clinical trials of its Alzheimer’s drug. SAVA gained 574% year-to-date on the prospect of becoming a leading drug developer for the disease, which affects one in nine people older than 65 years. The drug is currently in Phase three of clinical trials.
However, the company came under fire in August after a citizen petition was filed with the SEC, claiming that SAVA manipulated the clinical trial results. The stock plummeted 41.8% over the past six months and 34.8% over the past month.
Here’s what could shape SAVA’s performance in the near term: