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Case Page

 

Case Status:    ONGOING    
On or around 02/05/2024 (Date of last review)

Filing Date: February 02, 2024

According to the Complaint, Cassava Sciences, Inc. is a clinical-stage biotechnology company. The Company’s lead therapeutic drug candidate is simufilam, a small molecule drug for the proposed treatment of Alzheimer’s disease.

The Complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company failed to maintain adequate and effective data management controls and procedures related to its drug research programs; (ii) as a result, the data published in support of simufilam were susceptible to manipulation to overstate the drug's effectiveness; (iii) accordingly, Cassava had misrepresented the efficacy of its research programs and the clinical and/or commercial prospects of simufilam; (iv) all of the foregoing, once revealed, was likely to subject the Company to significant financial and/or reputational harm; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.

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