Athira Pharma

About Athira Pharma

Athira Pharma, Inc. is a clinical-stage biopharmaceutical firm focused on developing small molecules to restore neuronal health and combat neurodegeneration. Founded in 2011 as M3 Biotechnology, the company is based on technology developed at Washington State University by Joseph Harding and Jay Wright and was co-founded by Leen Kawas, who served as its initial President and CEO. The company rebranded to Athira Pharma in April 2019 and completed its Initial Public Offering (IPO) on the NASDAQ exchange in September 2020. Following the resignation of Kawas in October 2021, Mark Litton, Ph.D., who had been with the company since July 2019, was appointed as the new CEO.

The company's core strategy revolves around modulating the Hepatocyte Growth Factor (HGF) and its MET receptor signaling pathway, which is integral to normal central nervous system function, brain repair, and regeneration. Athira's business model is characteristic of a clinical-stage biopharmaceutical company, with its primary expenditures directed towards extensive research and development programs. As its products are still in development, the company's operations are financed through equity and grants rather than product revenue. Key investors include Perceptive Advisors, the Alzheimer's Drug Discovery Foundation, and Dolby Family Ventures.

Athira's lead product candidate was fosgonimeton (also known as ATH-1017), a small molecule designed to enhance the HGF/MET system. This therapy was being investigated for its potential to treat neurodegenerative conditions such as Alzheimer's disease, Parkinson's disease dementia, and Dementia with Lewy Bodies. However, in 2024, the Phase 2/3 LIFT-AD clinical trial for fosgonimeton in patients with mild-to-moderate Alzheimer's disease did not meet its primary endpoints, showing no statistically significant improvement in cognition or function compared to a placebo. Despite the setback, the company is advancing other candidates in its pipeline. Athira is now focusing on the clinical development of ATH-1105, a next-generation, orally available HGF modulator. A Phase 1 trial in healthy volunteers has been completed, and Athira plans to begin dosing patients with Amyotrophic Lateral Sclerosis (ALS) in 2025.