Athira Pharma Announces Name Change to LeonaBio, Inc. with New Ticker “LONA”
Rhea-AI Summary
Athira Pharma (NASDAQ: ATHA) changed its name to LeonaBio and will trade under new ticker LONA beginning January 12, 2026.
The name change follows a transformative exclusive license for lasofoxifene (Phase 3 ELAINE-3, >50% enrolled; topline data expected mid-2027) and an upfront private placement of $90 million plus warrants that could provide up to $146 million if fully exercised to fund development through key milestones into 2028.
Positive
- Exclusive license to lasofoxifene for metastatic breast cancer
- Phase 3 ELAINE-3 >50% enrolled; topline data mid-2027
- Upfront financing of $90 million secured
- Warrants could provide up to $146 million if fully exercised
- New ticker LONA effective January 12, 2026
Negative
- Clinical readout not expected until mid-2027, extending outcome risk timeline
- Warrant funding conditional on exercise, not guaranteed capital
- License excludes Asia and certain Middle East countries
News Market Reaction
On the day this news was published, ATHA declined 6.12%, reflecting a notable negative market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $2M from the company's valuation, bringing the market cap to $26M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Pre-news, ATHA was down 1.91% with mixed peer action: several biotech peers (NXTC, NERV, MTVA) were modestly negative, PRTG was down double-digits, while CARM was up 15.81%. This pattern points to stock-specific dynamics rather than a uniform sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 18 | Oncology license & financing | Positive | +62.5% | Exclusive lasofoxifene license plus financing package supporting Phase 3 program. |
| Nov 06 | Earnings & strategy update | Neutral | -4.0% | Q3 results, strategic alternatives review, ATH‑1105 Phase 1 data and reverse split effect. |
| Sep 11 | Reverse stock split | Neutral | +0.3% | 10‑for‑1 reverse split to maintain Nasdaq listing via $1.00 bid requirement. |
| Aug 14 | Clinical data update | Positive | +2.1% | ATH‑1105 Phase 1 data showing favorable safety and CNS penetration in volunteers. |
| Aug 07 | Earnings & pipeline | Neutral | +6.0% | Q2 results and ATH‑1105 Phase 1 completion with promising ALS treatment profile. |
Positive clinical and financing updates have recently drawn strong upside reactions, while structural or routine items like earnings and the reverse split saw modest moves.
Over the last six months, ATHA has transitioned toward oncology and ALS with several notable events. On Aug 7, 2025 and Nov 6, 2025, quarterly results highlighted ATH‑1105 progress and cost reductions. A 10‑for‑1 reverse split on Sep 17, 2025 helped regain Nasdaq compliance. Clinical updates for ATH‑1105 in August showed favorable safety. The pivotal shift came on Dec 18, 2025 with the lasofoxifene Phase 3 license and up to $236M in financing support, which drew a strong positive price reaction. Today’s name and ticker change formalizes this strategic repositioning.
Market Pulse Summary
The stock moved -6.1% in the session following this news. A negative reaction despite the neutral-to-positive nature of a rebranding could have fit a pattern where the market reassessed prior enthusiasm after the large move on Dec 18, 2025. The name and ticker change mainly formalized an already announced strategic pivot and financing package of $90M plus up to $146M in warrants, with Phase 3 ELAINE‑3 more than 50% enrolled. Any pullback would have highlighted execution, dilution risk from outstanding warrants, and long timelines to the planned mid‑2027 data as ongoing considerations.
Key Terms
phase 3 medical
metastatic breast cancer medical
selective estrogen receptor modulator (SERM) medical
private placement financial
warrants financial
amyotrophic lateral sclerosis (ALS) medical
AI-generated analysis. Not financial advice.
New name to reflect recent transformative acquisition of rights to Phase 3 program in metastatic breast cancer and commitment to continued leadership, resilience and innovation
BOTHELL, Wash., Jan. 09, 2026 (GLOBE NEWSWIRE) -- Athira Pharma, Inc. (NASDAQ: ATHA), a clinical-stage biopharmaceutical company dedicated to the development of novel therapeutics for diseases with high unmet medical needs, today announced that it has changed its name to LeonaBio, Inc. The name change aligns with the Company’s transformative acquisition of rights to develop and commercialize lasofoxifene, a promising late-stage clinical asset for the potential treatment of metastatic breast cancer, currently in a Phase 3 trial (NCT05696626). In connection with the name change, the Company will change its ticker symbol to “LONA.” The Company's common stock will commence trading on The Nasdaq Capital Market under the new ticker symbol on January 12, 2026.
“This marks an exciting and transformative period for our company and emphasizes our commitment to advancing a pipeline of innovative, late-stage assets both internally developed and strategically in-licensed with the goal of accelerating their path to market and maximizing their potential clinical and commercial impact,” said Mark Litton, Ph.D., President and Chief Executive Officer of LeonaBio. “At LeonaBio, we are building a pipeline with the potential to change lives and create enduring value. Our new name truly reflects our commitment to leadership, resilience, and innovation—qualities that define our expanded mission to deliver transformative therapies for patients battling diseases that need better treatment options.”
LeonaBio comes from “Leona,” a name with Greek and Latin roots, meaning lioness. It reflects strength, leadership, resilience, and the company’s commitment to stand with patients facing the most serious diseases. The changes in name and ticker symbol do not affect the Company's legal structure, business operations, or existing financial reporting obligations. Stockholders are not required to take any action in connection with the change.
The Company’s lead drug candidates, lasofoxifene and ATH-1105, are novel, small molecule therapies with the potential to address devastating diseases where current treatment options are limited. With a strong commitment to scientific excellence and patient-centered innovation, LeonaBio aims to advance meaningful new therapies that are designed to treat patients with treatment-resistant metastatic breast cancer and amyotrophic lateral sclerosis (ALS). The ongoing Phase 3 ELAINE-3 clinical trial of lasofoxifene is more than
On December 18, 2025, the Company announced it entered into an exclusive global license (excluding Asia and certain countries in the Middle East) from Sermonix Pharmaceuticals, Inc. for rights to develop and commercialize lasofoxifene, a selective estrogen receptor modulator (SERM) for the potential treatment of metastatic breast cancer. In conjunction with this transaction, LeonaBio also announced an upfront financing of
About Lasofoxifene
Lasofoxifene is a novel, nonsteroidal SERM with a unique binding profile, designed to confer potent activity against both wild-type and mutant estrogen receptors, including the clinically significant ESR1 mutations commonly associated with resistance to endocrine therapy in metastatic breast cancer. Two Phase 2 studies—ELAINE-1 and ELAINE2—have demonstrated- its potential to address a critical unmet need in this patient population.
Lasofoxifene is being advanced in a Phase 3 clinical trial as a targeted therapy for estrogen receptor-positive (ER+), HER2-negative, ESR1-mutated metastatic breast cancer, a population with limited treatment options following progression on aromatase inhibitors and CDK4/6 inhibitors. The ongoing ELAINE-3 trial (NCT05696626) is evaluating lasofoxifene in combination with the CDK4/6 inhibitor, abemaciclib, and is aiming to establish a new standard of care for this genetically defined patient group.
About ATH-1105
ATH-1105 is LeonaBio’s novel, orally available, brain-penetrant, next-generation small molecule drug candidate designed to positively modulate the neurotrophic HGF system for potential treatment of neurodegenerative diseases, including amyotrophic lateral sclerosis (ALS), Alzheimer’s disease, and Parkinson’s disease. ATH-1105 is currently in clinical development for the potential treatment of ALS.
The first-in-human Phase 1 (NCT06432647) double-blind, placebo-controlled clinical trial enrolled 80 healthy volunteers to evaluate single and multiple oral ascending doses of ATH-1105. LeonaBio plans to initiate a Phase 2 clinical trial of ATH-1105 in ALS patients in early 2026.
About LeonaBio
LeonaBio, headquartered in the Seattle, Washington area, is a clinical-stage biopharmaceutical company dedicated to the development of novel therapeutics for diseases with high unmet medical needs, including treatment-resistant metastatic breast cancer and amyotrophic lateral sclerosis (ALS), with the goal of improving patients’ lives. Our lead drug candidates, lasofoxifene and ATH-1105, are novel, small molecule therapies with the potential to address devastating diseases where current treatment options are limited or ineffective. With a strong commitment to scientific excellence and patient-centered innovation, we are dedicated to developing meaningful new therapies for those who need them most.
For more information, visit www.leonabio.com.
Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of Section 27A of the Securities Act, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not based on historical fact and include statements regarding: the beneficial characteristics, safety and efficacy of LeonaBio’s drug candidates; the potential of any subsequent clinical trials to show the beneficial characteristics, safety and efficacy of ATH-1105; the potential of LeonaBio to complete the Phase 3 ELAINE-3 clinical trial for lasofoxifene and any subsequent clinical trials to show the clinical benefits of lasofoxifene; the potential learnings from preclinical studies and other nonclinical data and their ability to inform and improve future clinical development plans; the rate and degree of market acceptance of LeonaBio’s drug candidates, if approved for commercial use; the size and growth potential of the markets for LeonaBio’s drug candidates, if approved for commercial use, and LeonaBio’s ability to serve those markets; anticipated milestone timelines, such as the timing of data releases, and LeonaBio’s ability to meet such timelines; the potential for lasofoxifene to be a new standard of care in the genetically defined patient group; LeonaBio’s ability to obtain and maintain regulatory approval of its drug candidates in the United States and other jurisdictions and the timing thereof, and any related restrictions, limitations or warnings in the label of any approved drug candidate; LeonaBio’s expectation that the upfront financing will support lasofoxifene development through its topline data readout and key regulatory milestones, with sufficient capital for planned operations into 2028; and LeonaBio’s rebranding efforts. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “on track,” “would,” “expect,” “plan,” “believe,” “intend,” “pursue,” “continue,” “suggest,” “potential,” “target” and similar expressions. Any forward-looking statements are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks associated with the possible failure to realize certain anticipated benefits of the license relating to lasofoxifene and the recent private placement financing, including with respect to future financial and operating results; the data from preclinical and clinical trials may not support the safety, efficacy and tolerability of LeonaBio’s drug candidates; development of drug candidates may cease or be delayed; regulatory authorities could object to protocols, amendments and other submissions; future potential regulatory milestones for drug candidates, including those related to current and planned clinical studies, may be insufficient to support regulatory submissions or approval; whether LeonaBio’s trials are sufficiently powered to meet the planned endpoints; LeonaBio may not be able to recruit sufficient patients for its clinical trials; the outcome of legal proceedings that may in the future be instituted against LeonaBio, its directors and officers; possible negative interactions of LeonaBio’s drug candidates with other treatments; FDA regulatory delays and uncertainty and new policies, including executive orders, changes in the leadership of federal agencies such as the FDA and SEC, staff layoffs, budget cuts to agency programs and research and changes in drug pricing controls; LeonaBio’s assumptions regarding its financial condition and the sufficiency of its cash, cash equivalents and investments to fund its planned operations may be incorrect; adverse conditions in the general domestic and global economic markets, including as a result of tariffs; the impact of competition; the impact of drug candidate development and clinical activities on operating expenses; the impact of new or changing laws and regulations; as well as the other risks detailed in LeonaBio’s filings with the SEC from time to time. These forward-looking statements speak only as of the date hereof and LeonaBio undertakes no obligation to update forward-looking statements. LeonaBio may not actually achieve the plans, intentions or expectations disclosed in its forward-looking statements, and you should not place undue reliance on the forward-looking statements.
Investor & Media Contact:
Julie Rathbun
LeonaBio
Julie.rathbun@leonabio.com
206-769-9219
FAQ
When will Athira Pharma begin trading under the new ticker LONA?
What Phase 3 trial is LeonaBio running for lasofoxifene and when is data expected?
How much financing did LeonaBio secure to support lasofoxifene development?
Does the name and ticker change affect shareholder holdings or legal structure?
Which territories are excluded from LeonaBio's lasofoxifene license?
