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Phase 2/3 neurodegeneration biotech Athira Pharma files for a $100 million IPO

August 26, 2020

Athira Pharma, a Phase 2/3 biotech developing therapies for neurodegeneration, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering.

The company is developing small molecule therapies to restore neuronal health and stop neurodegeneration through its ATH platform. Athira's lead candidate, ATH-1017, demonstrated improvements in brain network activity indicating potentially positive effects on brain function in nonclinical studies and Phase 1 clinical trials. The company plans to initiate a Phase 2/3 clinical trial for ATH-1017 by the end of 2020.

The Seattle, WA-based company was founded in 2011 and plans to list on the Nasdaq under the symbol ATHA. Athira Pharma filed confidentially on July 24, 2020. Goldman Sachs, Jefferies and Stifel are the joint bookrunners on the deal. No pricing terms were disclosed.