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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Robbins LLP Reminds Investors of the Pending Class Action Against Cassava Sciences, Inc. and Urges SAVA Stockholders to Contact the Firm for Information

SAN DIEGO, Jan. 06, 2025 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a class action was filed against Cassava Sciences, Inc. (NASDAQ: SAVA) for wrongdoing between February 7, 2024 and November 24, 2024. Cassava is a clinical stage biotechnology company, with a focus on developing drugs for neurodegenerative diseases.

For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.

The Allegations: Robbins LLP is Investigating Allegations that Cassava Sciences, Inc. (SAVA) Misled Investors Regarding its Lead Drug Candidate

According to the complaint, during the class period, defendants created the false impression that they possessed reliable information pertaining to the Company’s drug prospects and anticipated growth while minimizing risk from a potential drug failure. Yet, in truth, Cassava’s repeated statements of confidence in their drug and reliance upon spinning the statistically insignificant data from the Phase 2 study fell short of the reality of simufilam’s potential; the Company simply did not have a drug that was capable of abating the progression of Alzheimer’s Disease, even when attempting to treat only the mild and moderate cases.

Plaintiff alleges that 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. On 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 one day.

What Now: You may be eligible to participate in the class action against Cassava Sciences, Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by February 10, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.

To be notified if a class action against Cassava Sciences, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

Attorney Advertising. Past results do not guarantee a similar outcome.

Contact:
Aaron Dumas, Jr.
Robbins LLP
5060 Shoreham Pl., Ste. 300
San Diego, CA 92122
adumas@robbinsllp.com
(800) 350-6003
www.robbinsllp.com

https://www.facebook.com/RobbinsLLP/
https://www.linkedin.com/company/robbins-llp/

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/53ea976e-cb38-4b51-adf1-9af255e179ae


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