The shares of Cassava Sciences rose more than 56% on Thursday after the business said that the Journal of Neuroscience had discovered no indication of data manipulation in a paper it published in July 2012 describing a new strategy to treating Alzheimer's disease.
The company's scientific integrity was called into question by the criticism, which was uploaded online in August.
The peer-reviewed research was co-authored by Cassava Sciences scientists and university collaborators and is fundamental to simufilam, the company's flagship medication candidate for treating Alzheimer's disease.
A statement of concern' was issued, demanding that the Food and Drug Administration discontinue the present clinical research of simufilam due to concerns about the validity of Cassava's clinical biomarker data and the integrity of Western Blot Analysis.
Cassava stated that the Alzheimer's biomarker data was created by Quanterix, an independent company, and was presented at the Alzheimer's Association International Conference.
According to the company, Western Blot Analysis is fundamental to the biotechnology industry and a common lab technique used globally to detect a protein of interest.
"We remain committed to completing a Phase 3 clinical program of simufilam in people with Alzheimer's disease," CEO Remi Barbier said today in a statement.
On August 25, the day the critiques were made public, the company's market cap had dropped by more than a third, despite the fact that it had rebutted each one point by point. More than two months later, and after accounting for the session's gains thus far, it is currently trading above that day's lows.