Athira Pharma, Inc. Stock Price, News & Analysis

Athira Pharma (NASDAQ: ATHA) has announced that its board recommends shareholders vote 'FOR' its three qualified director nominees on the WHITE proxy card. As Richard A. Kayne suspends his proxy contest, the board expresses gratitude for shareholder support and emphasizes its commitment to advancing Athira's strategy, especially with topline results from the Phase 2 ACT-AD study expected soon. The board believes it is well-equipped to drive company success, focusing on its developments in neurodegenerative diseases like Alzheimer’s and Parkinson’s.

On May 16, 2022, Ric Kayne, a shareholder of Athira Pharma (NASDAQ: ATHA), announced the suspension of his campaign for board election amid concerns about the company's future leadership and strategy for ATH-1017. Despite expressing optimism about the drug's potential, Kayne acknowledged that a close vote could lead to a contentious board dynamic. He emphasized shareholder engagement, urging them to voice their opinions, while asserting the need for enhanced clinical management in light of upcoming trial results.

Athira Pharma (NASDAQ: ATHA) announced promising preclinical findings for its small molecules, ATH-1018 and ATH-1019, targeting the HGF/MET signaling pathway. Presented at the 2022 Peripheral Nerve Society Annual Meeting, results showed significant improvement in pain-related behaviors in a diabetic neuropathy model. Notably, the effects persisted even after the compounds were cleared from plasma, suggesting long-lasting benefits. Athira aims to further evaluate these candidates to enhance its pipeline for treating diabetic neuropathy and other neurodegenerative conditions.

Athira Pharma (NASDAQ: ATHA) reported its Q1 2022 financial results and discussed progress in clinical studies, including the ACT-AD Phase 2 Alzheimer's study set to release topline data by the end of Q2 2022. The company increased R&D expenses to $14.5 million, up from $7.4 million in Q1 2021, and general and administrative costs surged to $8.9 million due to headcount growth. The net loss also widened to $21.0 million, or $0.56 per share, compared to $8.9 million, or $0.25 per share, in the same period last year.

Ric Kayne, a shareholder of Athira Pharma (NASDAQ: ATHA), has called for immediate changes to the board of directors, citing poor decision-making that has led to significant shareholder value destruction. In a letter to shareholders, Kayne outlines various missteps, including governance failures and management issues, urging shareholders to support his candidacy and that of George Bickerstaff at the upcoming annual meeting on May 19, 2022. He emphasizes the need for experienced leadership to restore confidence and improve the company's clinical trial oversight.

Athira Pharma (NASDAQ: ATHA) urges shareholders to vote ‘FOR’ its independent director nominees at the Annual Meeting on May 19, 2022. The company emphasizes the importance of using the WHITE proxy card over any blue cards from Richard Kayne. Leading proxy advisors, ISS and Glass Lewis, recommend supporting Athira's nominees, highlighting the board’s effectiveness and strategic focus on advancing fosgonimeton (ATH-1017) for neurological diseases. Results from the Phase 2 ACT-AD study are anticipated by the end of Q2 2022, amidst ongoing efforts to enhance shareholder value.

Athira Pharma (NASDAQ: ATHA) announced an extension of its open-label treatment duration for the Phase 3 LIFT-AD and Phase 2 ACT-AD studies of fosgonimeton, increasing from 6 to 18 months. This decision follows a review by the independent Data and Safety Monitoring Board (DSMB). Participants who completed the initial trials can opt for continued treatment, reflecting strong interest from both investigators and patients. The LIFT-AD trial's topline results are expected in H1 2023, while ACT-AD results are targeted for Q2 2022.

Athira Pharma, Inc. (NASDAQ: ATHA) encourages shareholders to vote 'FOR' its independent director nominees—Joseph Edelman, John M. Fluke, Jr., and Grant Pickering—using the WHITE proxy card ahead of the annual meeting on May 19, 2022. The company highlights its progress in clinical trials, particularly for its lead candidate, fosgonimeton (ATH-1017), with topline results expected from the Phase 2 ACT-AD study by Q2 2022, and full enrollment of the LIFT-AD Phase 3 study targeted for Q3 2022. The board expresses confidence in its leadership amidst a proxy contest led by Richard Kayne, urging shareholders to support its current board to maintain momentum.

Richard A. Kayne, owning 4.8% of Athira Pharma, urges the Board to seek a new CEO with clinical experience to enhance the success rate of ongoing trials for ATH-1017. He proposed Dr. Ronald Krall, a former Chief Medical Officer at GlaxoSmithKline, citing his extensive experience overseeing 20 FDA approvals. Dr. Krall expresses readiness to lead Athira and improve the management of critical ACT-AD and LIFT-AD trials, emphasizing the need for experienced oversight in this pivotal phase for the company’s drug candidate.