Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit against Cassava Sciences, Inc (SAVA) Lending Deadlines in Class Acre
LOS ANGELES, Sept. 14, 2021 -- Glancy Prongay & Murray LLP reminds investors of the upcoming occurrence. October 26, 2021 "Assava" or the "Company") (NASDAQ: SAVA) securities between the two of the seven-months-old and the first-ever deadline to file a lead plaintiff motion in the class action filed September 14 2020 2020 and August 27 2021 20 21 All inclusive (Class Period, Period.
If you have a loss on your Cassava investments or want to investigate any claims to recover your losses under the federal securities laws, you can also contact Charles H. Linehan, of GPM, 310 201 9150
Cassava is a pharmaceutical company. Currently, simufilam is a leading therapeutic product candidate for the treatment of Alzheimer's disease (AD). Simufilam purportedly targets an altered form of a protein called filamin A ("FLNA") in the brain of Alzheimer and reverts to its native, healthy conformation, thereby countering the downstream toxic
The U.S. Food and Drug Administration (FDA) issued an urgent request on August 24, 2021, after the market closed, about a citizen petition - whose submission was made to the FDA concerning the accuracy and integrity The petition demanded the FDA halt Cassava's clinical trials pending a thorough audit of the firm' data and publications. The petition stated that the analysis of the western blots (relied on by Cassava to support the connection between simufilam and Alzheimer's) shows a series of anomalies that suggest systematic data manipulation The data presented again has hallmarks of manipulation. The petition further stated that, after initial analyses of Phase 2b trials showed that Simufilam was ineffective in improving the primary biomarkers endpoint, "Cassava had these samples analyzed again and this time reported
In response to the petition on August 25, 2021, before the market opened, Cassava responded to a petition, claiming the allegations regarding scientific integrity are false and misleading. The Company claimed that the clinical data, which the citizen petition stated had been reanalyzed to show simufilam was effective, was generated by Quanterix Corp. ("Quanter"), an independent company, suggesting that
On this news, the Company's share price fell to $36,97, or 32%, to close at $80.86 per share on August 25, 2021, on unusually heavy trading volume.
Quanterix denied the Company's claims on August 27, 2021, before the market opened, stating that it did not "preprepare the test results or prepare the data" which Cassava said.
As for the clinical study, Cassava responded to Quanterix's statement, stating that "Quanteris' sole responsibility was to perform sample testing, and specifically to measure the levels of p-tau in
The Company's share price slowed to $12,51, or 17,6%, to close at $58,34 per share on August 27, 2021, with unusually heavy trading volume.
The complaint filed in this class action alleges that the defendants made materially false and/or misleading statements throughout the Class Period, and were not allowed to disclose material adverse facts about the Company's business, operations, or prospects. In particular, Defendants failed to disclose to investors: (1) that data underlying the foundational research for Cassava's product candidates had been manipulated; (2) that experiments using postmortem human brain tissue frozen for nearly
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If you purchased or otherwise acquired Cassava securities during the Class Period, you may move the Court at the time of the class period. October 26, 2021 Request for appointment as lead plaintiff in this putative class action suit. For to be a member of the class action, you need not take any action at this time; you may retain the counsel of your choice or take no action and remain absent from the classes action. Please give us your address, telephone number and number of shares purchased on our website. If you wish to get more information about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the
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