The Food and Drug Administration has denied a petition by short sellers to halt clinical trials of an experimental Alzheimer’s drug being developed by
Cassava Sciences Inc.
The two short sellers alleged in filings with the FDA and the Securities and Exchange Commission that Cassava’s published research contained images of experiments that appear to have been manipulated using software such as Photoshop. Cassava denied the allegations, and said it was cooperating with government investigations.
The FDA said Thursday it couldn’t launch an investigation based on claims in the so-called citizen’s petition filed by the short sellers. The petition process only allows the FDA to review or overturn regulations or orders the agency has already issued, the agency said.
“This response does not…
