SAN DIEGO, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of the federal securities laws by Cassava Sciences, Inc. ("Cassava" or the "Company") (NASDAQ: SAVA).

On August 24, 2021, it was disclosed that the U.S. Food Drug Administration (“FDA”) had received a so-called Citizen Petition commencing an administrative action to “halt two ongoing trials of the drug Simuflam . . . pending a thorough audit by the FDA.” After summarizing its findings, the Citizen Petition went on to conclude that “the extensive evidence set forth in the enclosed report, which presents grave concerns about the quality and integrity of the scientific data supporting Cassava’s claims for Simulifam’s efficacy, provides compelling grounds for pausing the ongoing clinical trials until the FDA can conduct and complete a rigorous audit of Cassava’s research.”

Following this news, Cassava’s share price closed down 31.38% on August 25, 2021

If you have information that could assist in this investigation, including past employees and others, or if you are a Cassava shareholder and are interested in learning more about the investigation, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com

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