GlobeNewswire Inc | Aug 31, 2021 10:31PM EDT

September 01, 2021

NEW YORK, Aug. 31, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Cassava Sciences, Inc. (Cassava or the Company) (NASDAQ:SAVA). Such investors are advised to contact Robert S. Willoughby atnewaction@pomlaw.com or 888-476-6529, ext. 7980.

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

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On July 29, 2021, Cassava issued a press release entitled Cassava Sciences Announces Positive Cognition Data With Simufilam in Alzheimers Disease. Although the press release touted supposedly positive cognition data, analysts and industry observers noted that the data had not demonstrated that Simufilam was more effective at improving cognition than Biogen Inc.s drug Aduhelm.

On this this news, Cassavas stock price fell $33.82 per share, or 32.72%, to close at $69.53 per share on July 30, 2021.

Then, on August 24, 2021, a citizens petition filed with the U.S. Food and Drug Administration (FDA) questioned the quality and integrity of study results from Cassava, alleging that some of Cassavas results appeared to show signs of data manipulation.

On this news, Cassavas stock price fell another $36.97 per share, or 31.38%, to close at $80.86 per share on August 25, 2021.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, 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 numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com888-476-6529 ext. 7980