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Important Notice for Cassava Sciences Shareholders

Shareholders of Cassava Sciences, Inc. (NASDAQ: SAVA) are being urged to take immediate action as opportunities to discuss their rights are available before the deadline of February 10, 2025. This call to action comes from The Gross Law Firm, a national class action law firm that has made it their mission to safeguard investor rights, particularly for those impacted by fraud or misleading business practices.

Background on the Issue

In recent months, Cassava Sciences has encountered serious challenges concerning its pivotal drug candidate, simufilam, which is under investigation for its efficacy in treating Alzheimer's disease. Initial statements from the company had fostered a confident outlook regarding simufilam's potential. However, a shocking turn of events occurred when topline results from the initial Phase 3 clinical study, dubbed the “ReThink-ALZ” study, failed to meet critical expected endpoints.

On November 25, 2024, Cassava released these disappointing results, revealing that simufilam did not outperform a placebo across any primary, secondary, or exploratory measures. This news led to a catastrophic decline in the firm’s stock price—from $26.48 per share on November 22, 2024, plunging to just $4.30 per share by November 25, representing a staggering loss of approximately 83.76% in a mere 24 hours. This significant market reaction raises concerns for shareholders who invested in that period, particularly regarding the company's transparency about the drug's potential.

Legal Considerations for Shareholders

As a shareholder who purchased SAVA shares during the specified class period from February 7, 2024, to November 24, 2024, it is vital to understand the implications of this downturn. The Gross Law Firm is actively seeking to appoint lead plaintiffs in any potential class action lawsuits, allowing investors the chance to reclaim losses sustained due to allegedly deceptive practices surrounding the company’s stock valuation.

Engagement in this class action is straightforward. Interested shareholders are not required to take on lead plaintiff responsibilities in order to recover losses. By registering, you will also gain access to portfolio monitoring software that provides real-time updates throughout the proceedings of the case.

It’s essential to recognize that registration for this class action lawsuit requires no upfront costs or obligations, allowing participating shareholders a foothold in potential recovery. The upcoming deadline of February 10, 2025, is critical for ensuring that your rights as a shareholder are acknowledged and protected.

Taking Action

To join others in this significant endeavor, shareholders are encouraged to reach out and register their information through The Gross Law Firm’s official website.

In the spirit of protecting investor rights, the Gross Law Firm emphasizes its commitment to holding companies accountable and ensuring transparency. By prioritizing responsible business practices, the law firm is dedicated to pursuing justice on behalf of investors affected by misinformation.

Contact Information:
The Gross Law Firm
15 West 38th Street, 12th floor,
New York, NY 10018
Email: [email protected]
Phone: (646) 453-8903

For shareholders, this represents an important chance to protect your investment rights amidst the turbulence caused by the abrupt decline in Cassava Sciences' stock. Don’t hesitate to take action before it’s too late.