The expose in the Times caused Cassava Sciences President and Chief Executive Officer Remi Barbier to rebut the claims in the report, calling the article "one-sided" and saying the venerable newspaper misrepresented his company's research by only using sources who were critical of the Texas-based company. Barbier also claimed that those who spoke with the Times maintain a negative bias about Cassava. Two, in particular, the Times relied on for its article are known to be shorting the company stock, he added at the time.
Both neuroscientists were behind a Citizen's Petition filed with the U.S. Food and Drug Administration that aimed to suspend the company's clinical research into simufilam. The neuroscientists suggested that Cassava's research included published images that appeared to have been manipulated using Photoshop or similar software. That petition was denied earlier this year after the journal Neuroscience announced that it could find no evidence to support claims of data manipulation in a 2005 paper authored by the company and its scientific collaborators.
Shares of Cassava are down slightly in premarket trading. The stock closed at $26.82 per share on Wednesday.
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