RE:RE:RE:RE:RE:RE:USA Inflation Reduction Act (IRA) 2022 Re: Biotech and ChinaSeptember 26, 2024 - The U.S. Securities and Exchange Commission (SEC) charged the biopharmaceutical company Cassava Sciences, two former executives, and its Chinese consultant and CUNY Professor Hoau-Yan Wang, for manipulating the trial results and making misleading claims about the results of the company's Alzheimer's clinical trials.
The SEC said Cassava misled investors by saying its Alzheimer's drug "significantly improved patient cognition." It failed to disclose that a full set of patient data actually showed "no measurable cognitive improvement in the patients' episodic memory."
The company also failed to disclose Wang's role in the clinical trial and his personal, financial, and professional interests in the drug's success.
https://www.reuters.com/business/healthcare-pharmaceuticals/us-charges-cassava-sciences-two-former-executives-misleading-claims-about-2024-09-26/
https://retractionwatch.com/2024/07/11/rare-criminal-charges-for-data-manipulation-in-cassava-case-sends-a-powerful-message-lawyers/