Cassava Sciences likes to fight fire with fire, with CEO Remi Barbier calling a citizen petition to halt development on its lead drug a “short attack” in September. But the noise surrounding the saga has apparently drawn the attention of the US government.
The biotech reported in an SEC filing Monday that “certain government agencies” have asked Cassava to provide them with “corporate information and documents.” It’s not clear which agencies are involved in probing Cassava, or if multiple agencies are doing so, but the company says it’s cooperating.
Though Cassava reported that the government said it had not informed the biotech that any wrongdoing had occurred, the company left the door open to potential penalties.
“We cannot predict the outcome or impact of any [of] these ongoing matters, including whether a government agency may pursue an enforcement action against us or others,” Cassava wrote in the filing.
Cassava was originally accused by the law firm Labaton Sucharow in August of data manipulation, with the shareholder rights activists petitioning the FDA to stop development of the Alzheimer’s drug simufilam. The biotech fought back with Barbier’s comments as well as an unusual Q-and-A style press release put out around that time.
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