{"id":1431,"date":"2023-10-13T20:07:09","date_gmt":"2023-10-13T20:07:09","guid":{"rendered":"https:\/\/infundpros.com\/investment\/cassava-shares-plummet-after-investigation-accuses-researcher-of-egregious-misconduct\/"},"modified":"2023-10-13T20:07:10","modified_gmt":"2023-10-13T20:07:10","slug":"cassava-shares-plummet-after-investigation-accuses-researcher-of-egregious-misconduct","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=1431","title":{"rendered":"Cassava shares plummet after investigation accuses researcher of \u2018egregious misconduct\u2019"},"content":{"rendered":"
\n

Shares of biotech outfit Cassava Sciences Inc. fell after the publication Science reported Thursday that an investigation accused a neuroscientist who often collaborated with the company of \u201clong-standing and egregious misconduct\u201d in data management and record-keeping, which raised serious questions about his research.<\/p>\n

In response, the company questioned the story and what the story said were the investigation\u2019s findings. Cassava Sciences
\n SAVA,
\n -15.28%<\/bg-quote>
\n stock was down 12% on Friday. <\/p>\n

\n

Science reported that an investigation by the City University of New York accused Hoau-Yan Wang \u2014 a neuroscientist who is a faculty member there \u2014 of \u201cscientific misconduct\u201d across 20 research papers. The publication said that many of those papers \u201cprovided key support\u201d for simufilam, an experimental Alzheimer\u2019s drug that Cassava has been working on. <\/p>\n

Science said the investigation also found that Lindsay Burns, a senior vice president for neuroscience at Cassava and a co-author on some of the research, \u201cbears primary or partial responsibility for some of the possible misconduct or scientific errors.\u201d<\/p>\n

The investigation was launched following allegations that Wang \u201cfalsified\u201d blot data used in the research in question, according to a report summarizing the inquiry that Science said it obtained from an anonymous source. The report said Wang disputed the allegations. But the report said it couldn\u2019t objectively evaluate the allegations due to what it said was Wang\u2019s failure to provide original data. <\/p>\n

Cassava Sciences, in a statement dated Friday, said the alleged \u201cmisconduct\u201d was related only to record-keeping issues at the university, and said the report \u201cmakes no findings of data manipulation.\u201d The company tried to link the matter to a short-selling campaign that began two years ago and said CUNY turned down requests for information and \u201coffers of assistance\u201d from Cassava. <\/p>\n

Cassava also said in a statement that CUNY \u201chas not responded to an inquiry Cassava Sciences made yesterday regarding the authenticity of the leaked report.\u201d<\/p>\n

The university and Wang did not respond to requests for comment from MarketWatch. But an official within the university system told Science that \u201caction on the report is imminent.\u201d Jennifer Beidel Scramlin, Wang\u2019s attorney, told Science that neither she or Wang could comment until they spoke with CUNY.<\/p>\n

Cassava\u2019s research on combating Alzheimer\u2019s has faced criticism and questions in the past from short sellers and a law firm, along with deeper regulatory scrutiny. The Austin, Texas-based company, a onetime meme stock, has defended its research in response, and last year sued short sellers who accused it of data manipulation, alleging they spread a \u201cfalse and defamatory message about Cassava\u201d in an effort to enrich themselves. One defendant called the lawsuit \u201cfrivolous.\u201d <\/p>\n

The CUNY report linked to in the Science story was labeled \u201cFinal,\u201d Science said. It was based on an investigation by a faculty committee and included interviews with Wang, a member of his lab, administrators and a senior editor who represented the ethics team for the Public Library of Sciences journal series, the report said. The committee also examined research data, Wang\u2019s responses to the allegations and an analysis of blot images used in the research.<\/p>\n

Science said the investigation began in 2021 but didn\u2019t conclude until this May, following what the report said were months of delays from the university in handing over some data. <\/p>\n

However, the CUNY report said the investigation was unable to gauge the merit of the allegations, \u201cdue to the failure of Dr. Wang to provide underlying, original data or research records and the low quality of the published images that had to be examined in their place.\u201d The report said that it \u201cappears likely\u201d that no primary data or research notebooks related to the accusations exist, making it impossible to analyze figures from certain experiments.\u00a0<\/p>\n

\u201cDr. Wang has therefore failed to provide the data and research records necessary for the committee to directly address the concerns surrounding the published work \u2026 identified in the allegations,\u201d the report said. \u201cThus, the integrity of Dr. Wang\u2019s work remains highly questionable.\u201d<\/p>\n

Wang, in response to the investigation, accused investigators of being prejudiced against him, the report said, and said they ran afoul of university guidelines during the inquiry and lacked \u201ca basic understanding of western blot analysis.\u201d<\/p>\n

The investigators recommended that research publications included in its allegations demand verifiable original data to corroborate the report\u2019s allegations.\u00a0<\/p>\n

Cassava, in its statement, said it did not rely solely on research at CUNY. And it said its research would continue.<\/p>\n

\u201cWe intend to continue to translate our passion for science into a novel drug for people living with Alzheimer\u2019s disease,\u201d Chief Executive Remi Barbier said in the statement. \u201cOur Phase 3 clinical program continues.\u201d<\/p>\n

Shares of Cassava are down 44.6% so far this year. <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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