SEC Investigating Cassava Sciences, Developer of Experimental Alzheimer’s Drug

The Securities and Exchange Commission is investigating claims that Cassava Sciences Inc., the sixth-best performing U.S. stock this year, manipulated research results of its experimental Alzheimer’s drug, according to people familiar with the matter.

Cassava disclosed Monday in a securities filing that it is cooperating with government investigations, without naming any agency. Cassava said an investigation isn’t a sign that wrongdoing occurred.