Cassava Sciences Responds to Media Reports
28 July 2022 - 3:36AM
Cassava Sciences, Inc. (Nasdaq: SAVA), a clinical-stage
biotechnology company, reiterated today what it had previously
disclosed in 2021, that certain government agencies had requested
information from the Company. The media widely reported on these
disclosures in 2021. All government requests for information were
made in response to allegations of research misconduct that were
made in 2021 by financially motivated short-sellers of the
Company’s stock.
“I have said from the onset that allegations of
research misconduct are false,” said Remi Barbier, President &
CEO. “No government agency has informed us that it has found
supporting evidence of research misconduct or any other
wrong-doing, and for good reason – there is no supporting evidence
for allegations of research misconduct.”
On November 15, 2021, Cassava Sciences publicly
disclosed that certain government agencies had asked for corporate
information and documents. These were confidential requests. We
have voluntarily been cooperating with government authorities. No
government agency has informed us that Cassava Sciences, or anyone
associated with us, has engaged in any wrongdoing.
It is worth nothing that no officer or director
of Cassava Sciences has sold Company stock in over a decade.
In contrast, short sellers, some of whom have been pursuing an
unprecedented attack on Cassava Sciences, have reportedly made over
$100,000,000 shorting SAVA stock.
“For a $100 million payday, some investors may
be incentivized to make false allegations,” said Remi Barbier. “Our
goal is to help people with Alzheimer’s disease, not an easy
payday.”
About Cassava Sciences, Inc.Cassava Sciences,
Inc. is a clinical-stage biotechnology company based in Austin,
Texas. Our mission is to detect and treat neurodegenerative
diseases, such as Alzheimer’s disease. Our novel science is based
on stabilizing – but not removing – a critical protein in the
brain. For more information, please visit:
https://www.CassavaSciences.com
For More Information Contact: Eric Schoen,
Chief Financial Officer, (512) 501-2450,
orESchoen@CassavaSciences.com
Cautionary Note Regarding Forward-Looking
Statements: This news release contains forward-looking
statements, including statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995,
relating to our expectations regarding certain government agencies
that have requested corporate information from us.
Such statements are based largely on our current expectations
and projections about future events. Such statements speak only as
of the date of this news release and are subject to a number of
risks, uncertainties and assumptions, including, but not limited
to, those risks relating to the ability to conduct or complete
clinical studies on expected timelines, to demonstrate the
specificity, safety, efficacy or potential health benefits of our
product candidates, the severity and duration of health care
precautions given the COVID-19 pandemic, any unanticipated impacts
of the pandemic on our business operations, and including those
described in the section entitled “Risk Factors” in our Annual
Report on Form 10-K for the year ended December 31, 2021, and
future reports to be filed with the SEC. The foregoing sets forth
many, but not all, of the factors that could cause actual results
to differ from expectations in any forward-looking statement. In
light of these risks, uncertainties and assumptions, the
forward-looking statements and events discussed in this news
release are inherently uncertain and may not occur, and actual
results could differ materially and adversely from those
anticipated or implied in the forward-looking statements.
Accordingly, you should not rely upon forward-looking statements as
predictions of future events. Except as required by law, we
disclaim any intention or responsibility for updating or revising
any forward-looking statements contained in this news release. For
further information regarding these and other risks related to our
business, investors should consult our filings with the SEC, which
are available on the SEC's website at www.sec.gov.
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