Why Cassava Sciences Stock Is Sinking Today
SAVACassava Sciences(SAVA) The Motley Fool·2024-07-02 00:19

The biotech stock is feeling the heat from an indictment of a former consultant. Shares of Cassava Sciences (SAVA -2.43%) were 5.3% lower as of 11:05 a.m. ET on Monday after falling as much as 19% earlier in the morning. The decline came on the heels of the federal indictment on Friday of Hoau- Yan Wang, a former consultant to Cassava. Wang was accused of fraud related to grant applications made to the U.S. National Institutes of Health (NIH) for work on Cassava's experimental drug simufilam. These grants l ...