ATHA Athira Pharma Inc.

19.35
+1.26  (+7%)
Previous Close 18.09
Open 18.09
52 Week Low 15.79
52 Week High 34.79
Market Cap $718,279,024
Shares 37,120,363
Float 31,955,260
Enterprise Value $487,825,366
Volume 248,163
Av. Daily Volume 228,976
Stock charts supplied by TradingView

Upcoming Catalysts

Drug Stage Catalyst Date
ATH-1017 (ACT-AD)
Mild-to-moderate Alzheimer's disease
Phase 2
Phase 2
Premium membership is required to view catalyst dates, analyst ratings, earnings dates and cash burn data. Click here to unlock and sign up to a 14-day FREE TRIAL.
ATH-1017 (LIFT-AD)
Alzheimer’s disease
Phase 2/3
Phase 2/3
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Quisque sapien.

Drug Pipeline

Drug Stage Notes
ATH-1017
Parkinson’s disease dementia
Phase 2
Phase 2
Phase 2 trial to be initiated by end of 2021.

Latest News

  1. -Phase 2 trial initiation for Parkinson's disease dementia program and IND submission for neuropsychiatric program planned by end of 2021-

    -Hosted educational webinar on targeting HGF/MET featuring leading neurologist Marwan Sabbagh, M.D-

    - Raised $103.5M in follow-on public offering during first quarter of 2021 -

    BOTHELL, Wash., May 13, 2021 (GLOBE NEWSWIRE) -- Athira Pharma, Inc. (NASDAQ:ATHA) ("Athira"), a late clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and stop neurodegeneration, today reported financial results for the quarter ended March 31, 2021 and provided recent business highlights.

    "We continue to execute on our corporate and clinical goals during this very important…

    -Phase 2 trial initiation for Parkinson's disease dementia program and IND submission for neuropsychiatric program planned by end of 2021-

    -Hosted educational webinar on targeting HGF/MET featuring leading neurologist Marwan Sabbagh, M.D-

    - Raised $103.5M in follow-on public offering during first quarter of 2021 -

    BOTHELL, Wash., May 13, 2021 (GLOBE NEWSWIRE) -- Athira Pharma, Inc. (NASDAQ:ATHA) ("Athira"), a late clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and stop neurodegeneration, today reported financial results for the quarter ended March 31, 2021 and provided recent business highlights.

    "We continue to execute on our corporate and clinical goals during this very important time in Athira's history," said Leen Kawas, Ph.D., President and Chief Executive Officer at Athira. "Our clinical trials, ACT-AD and LIFT-AD, are actively enrolling and will evaluate the clinical utility of ATH-1017 to treat Alzheimer's disease and improve cognitive health. In addition to developing ATH-1017 in Alzheimer's disease, we plan to evaluate it in Parkinson's disease dementia. We also remain committed to advancing our expanding pipeline of novel, small molecule compounds. We have a well-defined strategic plan ahead of us and are well-funded to reach multiple clinical and regulatory milestones."

    Recent Business Highlights and Anticipated Milestones

    Pipeline

    ATH-1017: A small molecule therapeutic specifically designed to enhance the activity of hepatocyte growth factor (HGF) and its receptor, MET, which are expressed in normal central nervous system function, in order to impact neurodegeneration and regenerate brain tissue.

    • ACT-AD trial is actively recruiting and is anticipated to report top-line data by early 2022: Enrollment is proceeding for the randomized, placebo-controlled Phase 2 clinical trial evaluating ATH-1017, a once-daily investigational drug for the treatment of mild-to-moderate Alzheimer's disease. The trial plans to enroll approximately 75 patients in the United States and Australia. Over a treatment course of 26 weeks, participants will be evaluated for improvement in cognition, global and functional assessments comparing treatment arms to placebo. ACT-AD will also use electroencephalogram (EEG) to measure quantitative electroencephalogram (qEEG) and Event-Related-Potential (ERP P300), a functional measure of working memory processing speed and executive function. Results from the ACT-AD trial will inform the clinical development strategy for any additional trials of ATH-1017.
    • LIFT-AD trial is actively recruiting and is anticipated to report top-line data by the end of 2022: Enrollment is proceeding for the randomized, double-blind, placebo-controlled Phase 2/3 clinical trial evaluating the safety, efficacy and tolerability of ATH-1017 in individuals with mild-to-moderate Alzheimer's disease. The trial plans to enroll approximately 300 patients. Over a treatment course of 26 weeks, participants will be randomized across two dose groups and one placebo group. Clinical efficacy will be measured by improvement in cognition and global/functional assessments comparing treatment arms to placebo.
    • Phase 2 Parkinson's disease dementia trial on track to initiate at the end of 2021.  Athira plans to initiate a Phase 2 trial of ATH-1017 in patients with Parkinson's disease dementia by the end of 2021.

    ATH-1019/1020: Novel, small molecule compounds designed to be orally available once-daily treatments, to activate the HGF/MET system and to distribute to the central nervous system as potential candidates for neuropsychiatric indications, including depression, anxiety and potentially schizophrenia.

    • IND filing expected by end of 2021. IND-enabling studies are proceeding for ATH-1019 and ATH‑1020. Athira is targeting an IND submission to the FDA by the end of 2021. Late-stage non-clinical development work and potentially early clinical studies will support decisions on selection of the lead product candidate and indication moving forward.

    Corporate

    • In April 2021, Athira hosted an educational webinar on targeting HGF/MET, a naturally occurring, neuronal repair pathway. The webinar featured a presentation by Marwan Sabbagh, M.D., a board-certified neurologist and geriatric neurologist and leading expert in Alzheimer's disease and dementia. Dr. Sabbagh discussed the current treatment landscape of Alzheimer's disease and dementia; the need for differentiated approaches; and the critical role of the HGF/MET repair pathway, in mediating brain health and function. An archived replay of the webinar is available on the company website and can be accessed from the investors' section of the Athira website at https://investors.athira.com/news-and-events/events-and-presentations.             

    First Quarter 2021 Financial Results

    • Cash Position. Cash, cash equivalents and marketable securities were $357.7 million as of March 31, 2021 compared to $268.2 million as of December 31, 2020.
      • In the first quarter of 2021, Athira successfully completed a follow-on public offering and raised total gross proceeds of $103.5 million.
    • Research and Development (R&D) Expenses. R&D expenses were $7.4 million for the quarter ended March 31, 2021 and $0.6 million for the same quarter in 2020.
    • General and Administrative (G&A) Expenses.  G&A expenses were $3.3 million for the quarter ended March 31, 2021, compared to $0.7 million for the same quarter in 2020.
    • Net Loss Net loss was $8.9 million, or a net loss of $0.25 per share basic and diluted, for the quarter ended March 31, 2021 compared to $1.8 million, or a net loss of $0.48 per share basic and diluted, for the same quarter in 2020.

    About Athira Pharma, Inc.

    Athira, headquartered in the Seattle area, is a late clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and stop neurodegeneration. We aim to provide rapid cognitive improvement and alter the course of neurological diseases with our novel mechanism of action. Athira is currently advancing its lead therapeutic candidate, ATH-1017, a novel small molecule for Alzheimer's and Parkinson's dementia. For more information, visit www.athira.com. You can also follow Athira on FacebookLinkedIn and @athirapharma on Twitter and Instagram.

    Forward-Looking Statements

    This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, 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 ATH-1017 as a potential treatment for Alzheimer's disease and other dementias; Athira's platform technology and potential therapies; future development plans; clinical and regulatory objectives and the timing thereof, including the timing of the ACT-AD and LIFT-AD clinical trials and filing of INDs for the initiation of trials in PDD and a neuropsychiatric indication; anticipated design of planned clinical trials; expectations regarding the potential efficacy and commercial potential of Athira's product candidates, including ATH-1017 and ATH-1019/1020; the anticipated presentation of data; the results of Athira's research and development efforts; and Athira's ability to advance its product candidates into later stages of development. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words and phrases such as "may," "will," "should," "would," "expect," "plan," "believe," "intend," "pursue," "continue," and other similar expressions, among others. 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, the preliminary data for Athira's ATH-1017 product candidate from the Phase 1a/b trials will not continue or persist; cessation or delay of any of the ongoing clinical trials and/or Athira's development of ATH-1017 may occur; future potential regulatory milestones of ATH-1017, including those related to current and planned clinical studies may be insufficient to support regulatory submissions or approval; the impact of the COVID-19 pandemic on Athira's business, research and clinical development plans and timelines and results of operations, including impact on Athira's clinical trial sites and contractors who act for or on Athira's behalf, may be more severe and more prolonged than currently anticipated, clinical trials may not demonstrate safety and efficacy of any of Athira's product candidates; Athira's assumptions regarding its planned expenditures and sufficiency of its cash, cash equivalents and investments to fund operations may be incorrect; Athira's research and development efforts and its ability to advance product candidates into later stages of development may fail; any one or more of Athira's product candidates may not be successfully developed, approved or commercialized; adverse conditions in the general domestic and global economic markets; regulatory uncertainty as a result of the new U.S. administration; regulatory agencies may be delayed in reviewing, commenting on or approving any of Athira's clinical development plans as a result of the COVID-19 pandemic, which could further delay development timelines; the impact of competition; the impact of expanded product development and clinical activities on operating expenses; impact of new or changing laws and regulations; as well as the other risks detailed in Athira's filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof and Athira undertakes no obligation to update forward-looking statements. Athira 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



    206-769-9219

     
    Athira Pharma, Inc.
    Condensed Consolidated Balance Sheets
    (Amounts in thousands)
     
     March 31, December 31,
     2021 2020
    Assets     
    Cash and cash equivalents$127,823 $60,625
    Short-term investments 176,367  124,057
    Other short-term assets 7,378  7,655
    Long-term investments 53,467  83,509
    Other long-term assets 4,379  3,717
    Total assets$369,414 $279,563
    Liabilities stockholders' equity     
    Current liabilities$4,497 $4,405
    Long-term liabilities 1,700  876
    Total liabilities 6,197  5,281
    Stockholders' equity 363,217  274,282
    Total liabilities and stockholders' equity$369,414 $279,563



     
    Athira Pharma, Inc.
    Condensed Consolidated Statements of Comprehensive Loss
    (Amounts in thousands)
     
     Three Months Ended March 31, 
     2021  2020 
    Operating expenses:       
    Research and development$7,445  $592 
    General and administrative$3,336  $675 
    Total operating expenses 10,781   1,267 
    Loss from operations (10,781)  (1,267)
    Grant income 1,831   22 
    Other income (expense), net 84   (560)
    Net loss$(8,866) $(1,805)
    Unrealized (loss) on available-for-sale securities (5)   
    Comprehensive loss attributable to common shareholders$(8,871) $(1,805)
    Net loss per share attributable to common stockholders,

       basic and diluted
    $(0.25) $(0.48)
    Weighted-average shares used in computing net loss per

       share attributable to common stockholders, basic

       and diluted
     35,775,454   3,747,356 


    Primary Logo

    View Full Article Hide Full Article
  2. BOTHELL, Wash., April 21, 2021 (GLOBE NEWSWIRE) -- Athira Pharma, Inc. (NASDAQ:ATHA), a late clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and stop neurodegeneration, today announced that Leen Kawas, Ph.D., President and Chief Executive Officer, will participate in a virtual panel discussion at the Sachs 4th Annual Neuroscience Innovation Forum. The panel, titled "Progress in Alzheimer's and Dementia," will be aired on Wednesday, April 28, 2021, at 8:30 a.m. PT /11:30 a.m. ET.

    The panel will be moderated by Howard Fillit, M.D., Founding Executive Director at the Alzheimer's Drug Discovery Foundation, and Paul Matteis, Managing Director at Stifel, and will include a discussion…

    BOTHELL, Wash., April 21, 2021 (GLOBE NEWSWIRE) -- Athira Pharma, Inc. (NASDAQ:ATHA), a late clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and stop neurodegeneration, today announced that Leen Kawas, Ph.D., President and Chief Executive Officer, will participate in a virtual panel discussion at the Sachs 4th Annual Neuroscience Innovation Forum. The panel, titled "Progress in Alzheimer's and Dementia," will be aired on Wednesday, April 28, 2021, at 8:30 a.m. PT /11:30 a.m. ET.

    The panel will be moderated by Howard Fillit, M.D., Founding Executive Director at the Alzheimer's Drug Discovery Foundation, and Paul Matteis, Managing Director at Stifel, and will include a discussion with the following participants:

    • David Elmaleh, Ph.D., Chairman and Chief Scientific Officer, AZTherapies
    • Todd Haim, Ph.D., Chief, Office of Small Business Research, National Institute on Aging (NIH)
    • Leen Kawas, Ph.D., President and Chief Executive Officer, Athira Pharma
    • Gregor Macdonald, Ph.D., Senior Director, Neuroscience Scientific Licensing, Johnson & Johnson Innovation
    • Deborah Rathjen, Ph.D., Executive Chair, Bioasis Technologies
    • Susanne Wilke, Ph.D., President and Chief Executive Officer, Cognoptix

    To register in advance for a live webcast of the panel discussion, please click here. For more information about the Sachs 4th Annual Neuroscience Innovation Forum, please refer to the conference portal.

    Beginning May 26, a recording of the panel will be available on the Investors section of the Athira website at https://investors.athira.com/news-and-events/events-and-presentations. An archived replay will be available for at least 30 days.

    About Athira Pharma, Inc.

    Athira, headquartered in the Seattle area, is a late clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and stop neurodegeneration. Athira aims to provide rapid cognitive improvement and alter the course of neurological diseases with our novel mechanism of action. Athira is currently advancing its lead therapeutic candidate, ATH-1017, a novel small molecule for Alzheimer's and Parkinson's dementia. For more information, visit www.athira.com. You can also follow Athira on Facebook, LinkedIn and @athirapharma on Twitter and Instagram.

    Investor & Media Contact:

    Julie Rathbun

    Athira Pharma



    206-769-9219



    Primary Logo

    View Full Article Hide Full Article
    • Featuring leading neurologist Marwan Sabbagh, M.D

    • Webinar to be held Thursday, April 15, at 1:30 p.m. PT / 4:30 p.m. ET

    BOTHELL, Wash., April 08, 2021 (GLOBE NEWSWIRE) -- Athira Pharma, Inc. (NASDAQ:ATHA), a late clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and stop neurodegeneration, today announced that it will host an educational webinar on targeting HGF/MET, a naturally occurring, neuronal repair pathway. The live webinar event will be on Thursday, April 15, at 1:30 p.m. PT / 4:30 p.m.ET.

    The webinar will feature a discussion with Marwan Sabbagh, M.D., a board-certified neurologist and geriatric neurologist and leading expert in Alzheimer's disease and dementia. Dr. Sabbagh will…

    • Featuring leading neurologist Marwan Sabbagh, M.D



    • Webinar to be held Thursday, April 15, at 1:30 p.m. PT / 4:30 p.m. ET

    BOTHELL, Wash., April 08, 2021 (GLOBE NEWSWIRE) -- Athira Pharma, Inc. (NASDAQ:ATHA), a late clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and stop neurodegeneration, today announced that it will host an educational webinar on targeting HGF/MET, a naturally occurring, neuronal repair pathway. The live webinar event will be on Thursday, April 15, at 1:30 p.m. PT / 4:30 p.m.ET.

    The webinar will feature a discussion with Marwan Sabbagh, M.D., a board-certified neurologist and geriatric neurologist and leading expert in Alzheimer's disease and dementia. Dr. Sabbagh will discuss the current treatment landscape of Alzheimer's disease and dementia; the need for differentiated approaches; and the critical role of the hepatocyte growth factor (HGF) and its receptor, MET (HGF/MET) repair pathway, in mediating brain health and function. Dr. Sabbagh is a member of Athira's Clinical Advisory Board.

    Kevin Church, Ph.D., Vice President of Discovery at Athira, will also provide an overview of HGF biology, the translational aspect of the pharmacology and ATH-1017: a small molecule therapeutic candidate designed to enhance the activity of HGF/MET, impact neurodegeneration and regenerate brain tissue. Drs. Sabbagh and Church will also be available to answer questions following the formal presentation.

    To register for the webinar, please click here. The live event can be accessed from the investors' section of the Athira website at https://investors.athira.com/news-and-events/events-and-presentations. An archived replay will also be available on the company website for at least 30 days following the event.

    About Athira Pharma, Inc.

    Athira, headquartered in the Seattle area, is a late clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and stop neurodegeneration. Athira aims to provide rapid cognitive improvement and alter the course of neurological diseases with our novel mechanism of action. Athira is currently advancing its lead therapeutic candidate, ATH-1017, a novel small molecule for Alzheimer's and Parkinson's dementia. For more information, visit www.athira.com. You can also follow Athira on Facebook, LinkedIn and @athirapharma on Twitter and Instagram.

    Forward-Looking Statements

    This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, 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 ATH-1017 as a potential treatment for Alzheimer's disease and other dementias. 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," "would," "expect," "plan," "believe," "intend," "pursue," and other similar expressions among others. 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, the preliminary data for Athira's ATH-1017 product candidate from the Phase 1a/b trials will not continue or persist; future potential regulatory milestones of ATH-1017, including those related to current and planned clinical studies may be insufficient to support regulatory submissions or approval; the impact of the COVID-19 pandemic on Athira's business; Athira's research and development efforts and its ability to advance product candidates into later stages of development may fail; any one or more of Athira's product candidates may not be successfully developed, approved or commercialized; adverse conditions in the general domestic and global economic markets; as well as the other risks detailed in Athira's filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof and Athira undertakes no obligation to update forward-looking statements. Athira 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

    Athira Pharma



    206-769-9219



    Primary Logo

    View Full Article Hide Full Article
  3. – LIFT-AD and ACT-AD studies evaluating ATH-1017, a once-daily investigational drug for the treatment of mild-to-moderate Alzheimer's disease, actively enrolling patients –

    – IND submissions planned for Parkinson's disease dementia program in 1H 2021 and neuropsychiatric program by end of 2021 –

    – Raised $103.5M in follow-on public offering during first quarter of 2021 –

    BOTHELL, Wash., March 25, 2021 (GLOBE NEWSWIRE) -- Athira Pharma, Inc. (NASDAQ:ATHA), a late clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and stop neurodegeneration, today reported financial results for the fourth quarter and full year ended December 31, 2020 and provided recent business highlights.

    "2020…

    – LIFT-AD and ACT-AD studies evaluating ATH-1017, a once-daily investigational drug for the treatment of mild-to-moderate Alzheimer's disease, actively enrolling patients –

    – IND submissions planned for Parkinson's disease dementia program in 1H 2021 and neuropsychiatric program by end of 2021 –

    – Raised $103.5M in follow-on public offering during first quarter of 2021 –

    BOTHELL, Wash., March 25, 2021 (GLOBE NEWSWIRE) -- Athira Pharma, Inc. (NASDAQ:ATHA), a late clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and stop neurodegeneration, today reported financial results for the fourth quarter and full year ended December 31, 2020 and provided recent business highlights.

    "2020 was a momentous year for the Athira team, particularly as we initiated two trials evaluating ATH-1017. The goal of the ACT-AD and LIFT-AD studies is to demonstrate the clinical utility of this promising agent to treat Alzheimer's disease and preserve cognitive health. Alzheimer's disease is an area of immense medical need and we are actively enrolling patients with the aim of reporting data in 2022," said Leen Kawas, Ph.D., President and Chief Executive Officer at Athira. "Our novel treatment approach is agnostic to the underlying disease pathology and focuses on network recovery and information transmission in the brain, which has the potential to improve clinical outcomes for patients. Our compounds have potential in a broad range of clinical applications, and we look forward to submitting INDs for our Parkinson's disease dementia program as well as our neuropsychiatric program this year. With our recently completed follow-on public offering, our balance sheet places us in a strong position to execute on our goals."

    Recent Business Highlights and Anticipated Milestones

    Pipeline

    ATH-1017: A small molecule therapeutic specifically designed to enhance the activity of Hepatocyte Growth Factor (HGF) and its receptor, MET, which are expressed in normal central nervous system function, in order to impact neurodegeneration and regenerate brain tissue.

    • ACT-AD trial actively enrolling patients. In November 2020, Athira initiated patient dosing in a randomized, placebo-controlled Phase 2 clinical trial evaluating ATH-1017, a once-daily investigational drug for the treatment of mild-to-moderate Alzheimer's disease. The trial will enroll up to approximately 75 patients in the United States and Australia. Participants will be randomized across two dose groups and one placebo group on a 1:1:1 basis to receive a daily subcutaneous injection of ATH-1017 or placebo over a treatment course of 26 weeks and will be evaluated for improvement in cognition, global, and functional assessments comparing treatment arms to placebo. ACT-AD will also use electroencephalogram (EEG), to measure quantitative electroencephalogram (qEEG), and Event-Related-Potential (ERP P300), a functional measure of working memory processing speed and executive function. Results from the ACT-AD trial may provide Athira with information to help support strategic decisions around any additional trials of ATH-1017 Athira may conduct. Athira expects to report top-line data by early 2022.
    • LIFT-AD actively enrolling patients. In September 2020, Athira initiated patient dosing in a randomized, double-blind, placebo-controlled Phase 2/3 clinical trial evaluating the safety, efficacy and tolerability of ATH-1017 in individuals with mild-to-moderate Alzheimer's disease. Clinical efficacy will be measured by improvement in cognition and global/functional assessments comparing treatment arms to placebo. Up to approximately 300 patients will be randomized across two dose groups and one placebo group on a 1:1:1 basis to receive a daily subcutaneous injection of ATH-1017 or placebo over a treatment course of 26 weeks. Athira expects to report top-line data by the end of 2022.
    • Phase 2 Parkinson's disease dementia trial to begin by the end of 2021. Athira expects to submit an Investigational New Drug (IND) Application to the U.S. Food and Drug Administration (FDA) by the first half of 2021 and start a Phase 2 trial by the end of 2021.

    ATH-1019/1020: Novel, small molecule compounds designed to be an orally available once-daily treatment, to activate the HGF/MET system, and to distribute to the CNS as potential candidates for neuropsychiatric indications, including depression, anxiety, and potentially schizophrenia.

    • IND filing expected by end of 2021. Athira is advancing ATH-1019 and ATH‑1020 to further development for neuropsychiatric indications and is targeting an IND submission to the FDA by the end of 2021. Late-stage non-clinical development work and potentially early clinical studies will support decisions on selection of the lead product candidate and indication moving forward.

    Corporate

    • Raised $103.5 million from follow-on public offering. In February 2021, Athira announced that it completed a follow-on public offering raising total gross proceeds of $103.5 million, including the underwriters fully exercising their option to purchase an additional 600,000 shares of common stock.
    • Appointment of two new Board members. In December 2020, Athira announced the appointment of Kelly Romano to its Board of Directors. Ms. Romano is the Founder and Chief Executive Officer of BlueRipple Capital, LLC, a consultancy firm for global technology companies and brings over 30 years of executive operating experience in technology. In March 2021, Athira announced the appointment of Barbara Kosacz to its Board of Directors. Ms. Kosacz is Chief Operating Officer and General Counsel at Kronos Bio, Inc., a clinical-stage oncology-focused biopharmaceutical company. Ms. Kosacz is a nationally recognized life sciences attorney with over 25 years of experience.
    • $15 million grant awarded from NIH to support ACT-AD trial. In October 2020, Athira announced that it was awarded a research grant expected to total $15.2 million over three years from the National Institute on Aging (NIA) of the National Institutes of Health (NIH) to support its ACT-AD trial.
    • Completed upsized initial public offering (IPO). In September 2020, Athira completed its IPO, generating gross proceeds of $204.0 million. In October 2020, Athira sold and issued an additional 1,397,712 shares of common stock upon the partial exercise of the underwriters to purchase additional shares, for additional gross proceeds of $23.8 million.

    Fourth Quarter and Full Year 2020 Financial Results

    • Cash Position. Cash, cash equivalents and marketable securities were $268.2 million as of December 31, 2020, as compared to $2.1 million as of December 31, 2019. Based upon its current operating plan, Athira estimates that its existing cash, cash equivalents and investments as of December 31, 2020 will be sufficient to fund its operating expenses and capital expenditure requirements at least through 2022.
    • Research and Development (R&D) Expenses. R&D expenses were $5.2 million for the quarter and $13.3 million for the full year ended December 31, 2020, compared to $0.7 million and $3.8 million for the same quarter and year in 2019.
    • General and Administrative (G&A) Expenses: G&A expenses were $3.9 million for the quarter and $6.7 million for the full year ended December 31, 2020, compared to $0.5 million and $1.7 million for the same quarter and year in 2019.
    • Net Loss: Net loss was $7.7 million, or a net loss of $0.24 per share basic and diluted, for the quarter and $19.9 million, or $1.67 per share, for the year ended December 31, 2020 compared to $1.0 million, or a net loss of $0.27 per share basic and diluted, for the same quarter in 2019 and $5.2 million, or $1.45 per share, for the year ended December 31, 2019.

    About Athira Pharma, Inc.

    Athira, headquartered in the Seattle area, is a late clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and stop neurodegeneration. We aim to provide rapid cognitive improvement and alter the course of neurological diseases with our novel mechanism of action. Athira is currently advancing its lead therapeutic candidate, ATH-1017, a novel small molecule for Alzheimer's and Parkinson's dementia. For more information, visit www.athira.com. You can also follow Athira on Facebook, LinkedIn and @athirapharma on Twitter and Instagram.

    Forward-Looking Statements

    This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, 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 ATH-1017 as a potential treatment for Alzheimer's disease and other dementias; Athira's platform technology and potential therapies; future development plans; clinical and regulatory objectives and the timing thereof; anticipated design of planned clinical trials; expectations regarding the potential efficacy and commercial potential of Athira's product candidates, including ATH-1017; the anticipated presentation of data; the results of Athira's research and development efforts; Athira's ability to advance its product candidates into later stages of development; and Athira's expectation of having sufficient cash, cash equivalents and investments to fund its operations at least through 2022. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words and phrases such as "may," "will," "should," "would," "expect," "plan," "believe," "intend," "pursue," "continue," and other similar expressions, among others. 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, the preliminary data for Athira's ATH-1017 product candidate from the Phase 1a/b trials will not continue or persist; cessation or delay of any of the ongoing clinical trials and/or Athira's development of ATH-1017 may occur; future potential regulatory milestones of ATH-1017, including those related to current and planned clinical studies may be insufficient to support regulatory submissions or approval; the impact of the COVID-19 pandemic on Athira's business, research and clinical development plans and timelines and results of operations, including impact on Athira's clinical trial sites and contractors who act for or on Athira's behalf, may be more severe and more prolonged than currently anticipated, clinical trials may not demonstrate safety and efficacy of any of Athira's product candidates; Athira's assumptions regarding its planned expenditures and sufficiency of its cash, cash equivalents and investments to fund operations may be incorrect; Athira's research and development efforts and its ability to advance product candidates into later stages of development may fail; any one or more of Athira's product candidates may not be successfully developed, approved or commercialized; adverse conditions in the general domestic and global economic markets; regulatory uncertainty as a result of the new U.S. administration; regulatory agencies may be delayed in reviewing, commenting on or approving any of Athira's clinical development plans as a result of the COVID-19 pandemic, which could further delay development timelines; the impact of competition; the impact of expanded product development and clinical activities on operating expenses; impact of new or changing laws and regulations; as well as the other risks detailed in Athira's filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof and Athira undertakes no obligation to update forward-looking statements. Athira 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

    Athira Pharma



    206-769-9219



    Athira Pharma, Inc.

    Condensed Consolidated Balance Sheets

    (Amounts in thousands)

      December 31,  December 31, 
      2020  2019 
    Assets        
    Cash and cash equivalents $60,625  $2,056 
    Short-term investments  124,057    
    Other short-term assets  7,655   104 
    Long-term investments  83,509    
    Other long-term assets  3,717   29 
    Total assets $279,563  $2,189 
             
    Liabilities, Convertible preferred stock and stockholders' equity (deficit)        
    Current liabilities $4,405  $1,273 
    Long-term liabilities  876   3,588 
    Total liabilities  5,281   4,861 
    Convertible preferred stock     17,051 
    Stockholders' equity (deficit)  274,282   (19,723)
    Total liabilities and stockholders' equity (deficit) $279,563  $2,189 
             

    Athira Pharma, Inc.

    Condensed Consolidated Statements of Comprehensive Loss

    (Amounts in thousands)

      Year Ended December 31, 
      2020  2019 
    Operating expenses:        
    Research and development $13,286  $3,793 
    General and administrative  6,709   1,656 
    Total operating expenses  19,995   5,449 
    Loss from operations  (19,995)  (5,449)
    Grant Income  1,321   754 
    Other income (expense), net  (1,281)  (466)
    Net loss $(19,955) $(5,161)
    Unrealized (loss)/gain on available-for-sale securities  33    
    Comprehensive loss attributable to common shareholders $(19,922) $(5,161)
    Net loss per share attributable to common stockholders, basic and diluted $(1.67) $(1.45)
    Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted  11,966,912   3,566,849 


    Primary Logo

    View Full Article Hide Full Article
  4. BOTHELL, Wash., March 24, 2021 (GLOBE NEWSWIRE) -- Athira Pharma, Inc. (NASDAQ:ATHA), a late clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and stop neurodegeneration, today announced that Leen Kawas, Ph.D., President and Chief Executive Officer, will participate in a virtual fireside chat at Stifel's 3rd Annual CNS Conference on Thursday, April 1, 2021, at 9:00 am ET.

    A live webcast of the fireside chat will also be available on the Investors section of the Athira website at https://investors.athira.com/news-and-events/events-and-presentations. An archived replay of the webcast will be available for approximately 90 days following the event.

    About Athira Pharma, Inc.
    Athira, headquartered…

    BOTHELL, Wash., March 24, 2021 (GLOBE NEWSWIRE) -- Athira Pharma, Inc. (NASDAQ:ATHA), a late clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and stop neurodegeneration, today announced that Leen Kawas, Ph.D., President and Chief Executive Officer, will participate in a virtual fireside chat at Stifel's 3rd Annual CNS Conference on Thursday, April 1, 2021, at 9:00 am ET.

    A live webcast of the fireside chat will also be available on the Investors section of the Athira website at https://investors.athira.com/news-and-events/events-and-presentations. An archived replay of the webcast will be available for approximately 90 days following the event.

    About Athira Pharma, Inc.

    Athira, headquartered in the Seattle area, is a late clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and stop neurodegeneration. We aim to provide rapid cognitive improvement and alter the course of neurological diseases with our novel mechanism of action. Athira is currently advancing its lead therapeutic candidate, ATH-1017, a novel small molecule for Alzheimer's and Parkinson's dementia. For more information, visit www.athira.com. You can also follow Athira on FacebookLinkedIn and @athirapharma on Twitter and Instagram.

    Investor & Media Contact:

    Julie Rathbun

    Athira Pharma



    206-769-9219



    Primary Logo

    View Full Article Hide Full Article
View All Athira Pharma Inc. News