Developing medicines for tricky-to-treat conditions like Alzheimer's disease is tough under the best of circumstances, and as investors in Cassava Sciences (NASDAQ: SAVA) know, sometimes the circumstances are far from ideal. The stock is now down by 23% over the past 12 months although it has gained nearly 2,000% in the last five years, doubtlessly leaving many shareholders much richer despite its nest of troubles last year.

Still, those troubles suggest potentially deep cracks in the scientific foundations that are holding up the business. So let's dissect the company's recent history to get a feeling of its chances to be a good investment today.

Good biotech companies develop and commercialize medicines that are safe and effective. Good medicines tend to be the result of good science. And while defining good science is beyond the scope of this article, one of the key characteristics of good science is integrity. When questions about the scientific process arise, it can undermine the credibility of the results that follow.

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Source Fool.com