The Panthers signed Saunders to their practice squad Thursday, Darin Gantt of the Panthers' official site reports.
Saunders was waived ahead of Tuesday's 53-man roster deadline but has returned to the team on a practice-squad deal. The undrafted wideout out of Ohio State dealt with a quadriceps strain for much of August but returned to action during the Panthers' preseason finale, operating mostly as a kick returner. He made his NFL debut last year with Carolina, catching both of his targets for 11 yards.