Athira Pharma, Inc. Stock Price, News & Analysis

Athira Pharma, Inc. (NASDAQ: ATHA) filed its definitive proxy statement with the SEC for the upcoming Annual Meeting on May 19, 2022, urging shareholders to vote for its director nominees on the WHITE proxy card. The company highlights effective execution against strategic priorities and anticipates topline results from the Phase 2 ACT-AD study by the end of Q2 2022. Athira is well-capitalized, positioned to meet clinical milestones, and emphasizes the expertise of its board nominees while opposing a disruptive proxy contest initiated by shareholder Richard A. Kayne.

Athira Pharma (NASDAQ: ATHA) announced the dosing of the first subject in a Phase 1 clinical trial for ATH-1020, aimed at treating neuropsychiatric conditions. This trial marks a crucial milestone as it is Athira's second clinical candidate and its first oral small molecule. The study will enroll approximately 68 healthy volunteers and will focus on the safety and tolerability of ATH-1020, which has shown promise in preclinical data by mitigating depression-like behaviors and normalizing sensory processing deficits in schizophrenia. Initial results are anticipated to guide future developments.

Athira Pharma (NASDAQ: ATHA) issued a statement addressing concerns from Richard Kayne regarding its governance and clinical focus. The company emphasizes its commitment to advancing fosgonimeton for Alzheimer’s disease, with results from the Phase 2 ACT-AD study expected soon. Athira has added three independent directors and seeks collaboration with Kayne but has faced rejection. The board dismissed former CEO Dr. Leen Kawas due to integrity concerns following an investigative report. Investors are advised to review the preliminary proxy statement filed on March 25, 2022.

Ric Kayne, a significant shareholder of Athira Pharma (NASDAQ: ATHA), has nominated himself and George Bickerstaff for the Board of Directors, citing urgent leadership changes needed after the hasty resignation of Co-Founder Dr. Leen Kawas. Kayne emphasizes that current CEO Dr. Mark Litton lacks the operational and clinical trial experience necessary to lead pivotal trials for ATH-1017, resulting in a significant decline in shareholder value, over 25% since Litton took over. Kayne calls for a proper succession plan and oversight to maximize the potential of ATH-1017.

Athira Pharma (NASDAQ: ATHA) reported its financial results for 2021 and provided a clinical update on its Alzheimer's disease programs. As of December 31, 2021, the company had $319.7 million in cash, up from $268.2 million the previous year. R&D expenses increased to $42.8 million, while G&A expenses rose to $21.2 million, reflecting expanded operations. Athira is set to report topline data from its Phase 2 ACT-AD study in Q2 2022 and aims to complete enrollment in the LIFT-AD Phase 3 study by Q3 2022. The company remains optimistic about its clinical pipeline and potential for shareholder value.

Athira Pharma has appointed Michael A. Panzara, M.D., MPH, a seasoned expert in CNS drug development, to its Board of Directors. With over 20 years in the biopharmaceutical industry, Panzara's experience includes pivotal roles at Wave Life Sciences, Sanofi Genzyme, and Biogen. Panzara's leadership in neurology drug development positions him to enhance Athira's clinical programs, especially for Alzheimer's and Parkinson's diseases. CEO Mark Litton highlighted Panzara's insights as critical in advancing therapies aimed at improving neurological health.

Athira Pharma (NASDAQ: ATHA) announced participation in two major investor conferences. The first is the Stifel 2022 Virtual CNS Days on March 28-29 at 2:30 PM ET, featuring a fireside chat with key executives including Dr. Mark Litton and Dr. Hans Moebius. The second event is the 21st Annual Needham Virtual Healthcare Conference from April 11-14, with a presentation scheduled for April 14 at 3:00 PM ET. Live webcasts will be available on the Athira website, with recordings accessible for 30 days after.

Athira Pharma (NASDAQ: ATHA) announced the presentation of baseline data from its fully enrolled Phase 2 ACT-AD clinical trial for its lead candidate, fosgonimeton (ATH-1017), targeting mild-to-moderate Alzheimer’s disease. The trial included 77 participants, averaging 71.4 years old, with 57 completing the study. Preliminary results are set for release in Q2 2022. These findings will inform the ongoing Phase 3 LIFT-AD study. Fosgonimeton aims to enhance neuronal health and cognitive function through its mechanism involving hepatocyte growth factor.

Athira Pharma, a late clinical-stage biopharmaceutical company, announced it will report its financial results for Q4 and full year 2021 on March 24, 2022. The conference call to discuss these results will start at 4:30 PM ET. Athira focuses on developing small molecules to enhance neuronal health and combat neurodegeneration, with its lead candidate, fosgonimeton (ATH-1017), targeting Alzheimer’s and Parkinson’s diseases. For more details, visit their website.