NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Cassava Sciences, Inc. (“Cassava Sciences” or the “Company”) (NASDAQ: SAVA) on behalf of Cassava Sciences stockholders. Our investigation concerns whether Cassava Sciences has violated the federal securities laws and/or engaged in other unlawful business practices.
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On August 24, 2021, after the market closed, it was revealed that a Citizen Petition was filed with the United States Food and Drug Administration (“FDA”) requesting that the FDA halt two ongoing trials of Cassava’s proprietary drug Simufilam. The Citizen Petition alleges that the foundational science and studies supporting Cassava’s use of Simufilam are based on systemic data manipulation and misrepresentation.
On this news, Cassava’s share price has fallen more than 20% during intraday trading on August 25, 2021 to lows of $80.44 per share, down from the previous day’s close of $117.83 per share, thereby injuring investors.
If you purchased or otherwise acquired Cassava Sciences shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.