Cassava Sciences (SAVA) CEO Remi Barbier is 13 days away from a $3 million cash bonus, thanks to a well-timed change in the company’s executive compensation plan and a questionable reanalysis of an unsuccessful Alzheimer’s disease drug clinical trial.
Barbier has a reputation for profiting personally even while his company suffered multiple setbacks. This latest money grab is particularly shameless because it’s practically risk-free — for him.
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Any chance you guys could start writing case studies like Harvard Business Review on these types of shenanigans in the biotech industry? It would really help investors steer clear of companies with this kind of CEO.
Nice piece on Cassava. Shows how criminal people can be and how naive investors are. Taints our entire industry.