Cassava Sciences, Inc. Class Action Lawsuit - SAVA

According to the complaint, defendants provided investors with material information concerning Cassava’s leading drug candidate, simufilam. Defendants’ statements included, among other things, clear confidence in simufilam’s ability to treat Alzheimer’s Disease. On November 25, 2024, Cassava released topline results for the first of its two ongoing Phase 3 studies on simufilam, the “ReThink-ALZ” study. The results indicated that simufilam failed to meet each of the pre-specified primary, secondary, and exploratory endpoints; in sum, simufilam failed to outperform the placebo. Following this news, the price of Cassava’s common stock declined dramatically. From a closing market price of $26.48 per share on November 22, 2024, Cassava’s stock price fell to $4.30 per share on November 25, 2024, a decline of about 83.76% in the span of just a single day.

In order to be eligible to join the SAVA class action lawsuit, you must have incurred a loss on shares of Cassava Sciences, Inc. purchased during the class period listed above.

If you suffered a loss in Cassava Sciences, Inc. during the relevant time frame or pursuant to the relevant offering(s), you have until February 10, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.