Why Cassava Sciences Stock Dived by Almost 11% Today

Cassava Sciences (NASDAQ: SAVA) ended the week with a piece of dispiriting news. It's going to reach deep into its coffers to settle charges brought by the most important financial-markets regulator governing its affairs.Many investors had enough of the company and sold off its stock to the point where it lost nearly 11% of its value across the Friday trading session. That was a far steeper fall than the 0.2% sag of the S&P 500 index on the day.Before market open, Cassava announced that it has reached agreement with the U.S. Securities and Exchange Commission (SEC) to settle allegations of negligence-based disclosures. The clinical-stage biotech is to pay $40 million in cash in the settlement, and as part of its terms is neither admitting nor denying the allegations. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool