NEW YORK, Dec. 20, 2024 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Cassava Sciences, Inc. ("Cassava" or the "Company") (NASDAQ: SAVA). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether Cassava and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until February 10, 2025, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Cassava securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.        

[Click here for information about joining the class action]

On November 25, 2024, Cassava issued a press release announcing 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.

On this news, Cassava's stock price fell $22.19 per share, or 83.78%, to close at $4.30 per share on November 25, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Danielle Peyton

Pomerantz LLP

dpeyton@pomlaw.com

646-581-9980 ext. 7980

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SOURCE Pomerantz LLP