Cassava Sciences Says U.S. DOJ Fraud Section Closes Its Inquiry Into The Company Regarding Allegations Of Research Misconduct

Cassava Sciences, Inc. (NASDAQ:SAVA, "Cassava", the "Company"))), a biotechnology company focused on developing novel, investigational treatments for central nervous system (CNS) disorders such as Tuberous Sclerosis Complex (TSC)-related epilepsy, today announced that the U.S. Department of Justice Fraud Section (DOJ) has closed its inquiry into the Company regarding allegations of research misconduct as described in the indictment in United States v. Wang, 8:24-cr-000211-TDC (D. Md.). That indictment was dismissed with prejudice by DOJ on October 23, 2025.

As previously disclosed, the Company reached a settlement with the U.S. Securities and Exchange Commission (SEC) of negligence-based disclosure charges in September 2024 and paid a monetary penalty without admitting or denying the SEC's allegations.

The Company cooperated fully with both the DOJ and SEC investigations. These outcomes end the investigations of the Company by the DOJ and SEC.