Press release
Lawsuit filed for Investors who lost money with shares of Cassava Sciences, Inc. (NASDAQ: SAVA)
A lawsuit was filed on behalf of investors in Cassava Sciences, Inc. (NASDAQ: SAVA) shares over alleged securities laws violations
Investors who purchased shares of Cassava Sciences, Inc. (NASDAQ: SAVA) have certain options and for certain investors are short and strict deadlines running. Deadline: February 10, 2025. NASDAQ: SAVA investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Austin, TX based Cassava Sciences, Inc., a clinical stage biotechnology company, develops drugs for neurodegenerative diseases. Cassava Sciences, Inc. reported that its annual Total Revenue rose from $80.02 million in 2022 to $105.95 million in 2023, and that its Net Loss increased from $76,24 million in 2022 to $97.21 million in 2023.
On November 25, 2024, Cassava Sciences, Inc. announced that its drug simufilam had failed to meet each of the pre-specified co-primary, secondary and exploratory biomarker endpoints in a Phase 3 study evaluating simufilam 100 mg tablets versus placebo over 52 weeks for the treatment of mild-to-moderate Alzheimer's disease ("AD"). In light of these disappointing results, Cassava also announced that it was discontinuing a second Phase 3 trial of simufilam 100 mg and 50 mg tablets versus placebo over 76 weeks for the treatment of mild-to-moderate AD.
Shares of Cassava Sciences, Inc. (NASDAQ: SAVA) declined from $42.20 per share on August 05, 2024, to as low as $2.23 per share on December 20, 2024.
The plaintiff claims that between February 7, 2024 to November 24, 2024, the defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true capabilities of Cassava's drugs; notably, that Company simply did not have a drug that was capable of abating the progression of Alzheimer's Disease.
Those who purchased shares of Cassava Sciences, Inc. (NASDAQ: SAVA) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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