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Key Information for Cassava Sciences, Inc. Shareholders

The Gross Law Firm has issued a crucial alert tailored for shareholders of Cassava Sciences, Inc. (NASDAQ: SAVA). This notice specifically addresses those who acquired shares between February 7, 2024, and November 24, 2024. If you are among this group of investors, it's pertinent that you pay close attention to the details outlined in this communication regarding a potential lead plaintiff appointment.

Class Period and Allegations

During the specified class period, investors were encouraged by representations made by the defendants concerning Cassava’s leading drug candidate, simufilam. Statements from company insiders conveyed confidence regarding simufilam's potential to treat Alzheimer's Disease. However, on November 25, 2024, Cassava's release of topline results from the 'ReThink-ALZ' study, one of two ongoing Phase 3 studies for simufilam, revealed disappointing outcomes. The study failed to meet any of its primary, secondary, or exploratory endpoints, indicating that simufilam did not outperform a placebo.

As a direct consequence of this announcement, the company's stock plummeted dramatically, dropping from a closing price of $26.48 on November 22, 2024, to $4.30 by November 25, an astonishing decline of nearly 84%. This sharp downturn is indicative of the volatility that can arise from inadequately disclosed information regarding a drug's efficacy.

Important Dates and Next Steps

The forthcoming deadline to register for lead plaintiff status is set for February 10, 2025. Shareholders are advised not to procrastinate in registering for this class action, as participating does not require you to assume the role of lead plaintiff. Those who register will gain access to portfolio-monitoring services that will keep them informed of all developments related to the case.

The necessity for awareness stems from an overarching goal to ensure that investors' rights are upheld. The Gross Law Firm, a recognized name in class action litigation, focuses on representing investors who have suffered losses due to fraudulent practices or failure to disclose relevant information by corporations. Their mission revolves around promoting transparency and ethical conduct in corporate governance.

Why You Should Act Now

By registering your details, you join a collective effort to hold Cassava Sciences accountable, and you can potentially recover losses incurred during this troubling period. Participating in this class action does not incur costs or obligations for shareholders.

For individuals wishing to contact The Gross Law Firm for further inquiries or registration, their team can be reached directly at their New York office, or potential plaintiffs can use the provided link to access the registration form.

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

It’s critical that shareholders of Cassava Sciences act promptly to safeguard their rights and potentially recover their losses in light of this significant issue affecting stock value. The path toward justice begins with awareness and timely action.