Cassava Announces Agreement to Settle Securities Class Action Litigation

Core Viewpoint - Cassava Sciences, Inc. has reached a definitive agreement to settle a consolidated securities class action litigation for $31.25 million, allowing the company to focus on the development of its investigational treatment simufilam for TSC-related epilepsy [1][2][3] Financial Settlement - The settlement amount of $31.25 million will resolve all claims from plaintiffs who purchased or acquired the company's common stock or options between September 14, 2020, and October 12, 2023 [2] - The company fully reserved this loss contingency in the second quarter of 2025 [3] Company Focus and Product Development - Cassava is dedicated to the continued development of simufilam, a proprietary investigational oral small molecule aimed at treating TSC-related epilepsy [3][5] - The company is planning a Phase 2 proof-of-concept study for simufilam in collaboration with the TSC Alliance and key opinion leaders, based on a treatment patent issued in 2025 [5]