Cassava Sciences Inc. has reached a definitive agreement to settle a consolidated securities class action litigation filed in 2021 in the United States District Court for the Western District of Texas. The company will pay $31.25 million to resolve all claims from plaintiffs who purchased or acquired Cassava common stock or call options, or sold put options, between September 14, 2020, and October 12, 2023. The settlement fully releases Cassava from all related claims and does not constitute an admission of fault or wrongdoing. The company had previously reserved the entire settlement amount as a loss contingency in the second quarter of 2025. With the settlement, Cassava plans to focus on developing simufilam for TSC-related epilepsy.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Cassava Sciences Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9616384-en) on December 23, 2025, and is solely responsible for the information contained therein.