Athira Issues Statement in Response to Richard A. Kayne’s Suspension of His Proxy Contest
May 16 2022 - 4:49PM
Athira Pharma, Inc. (NASDAQ: ATHA), a late clinical-stage
biopharmaceutical company focused on developing small molecules to
restore neuronal health and slow neurodegeneration, today issued
the following statement in response to Richard A. Kayne’s
suspension of his proxy contest:
We appreciate the strong support of
our shareholders throughout this process and their recognition of
the incredible talent and commitment of the people across Athira.
We continue to urge shareholders to vote “FOR” Athira’s three
director nominees on the WHITE proxy card.
The Athira board is highly qualified
and actively engaged in the development and execution of Athira’s
strategy. It has been purpose-built for this phase in the company’s
evolution. We have the right strategy, as well as the right
leadership team and board of directors, to drive Athira’s success.
As we enter a pivotal chapter, with topline results from the Phase
2 ACT-AD study expected by the end of the second quarter of 2022
and multiple other upcoming clinical milestones, the company will
remain focused on doing what is right for Athira, our shareholders,
and our patients and their caregivers. We look forward to an
ongoing dialogue with our shareholders as we execute our
strategy.
Athira’s board urges shareholders to vote today “FOR” Athira’s
three director nominees – Joseph Edelman, John M. Fluke, Jr. and
Grant Pickering – on the WHITE proxy card.
Advisors
Goldman Sachs & Co. LLC is serving as financial advisor to
Athira. Wilson Sonsini Goodrich & Rosati, P.C. is serving as
legal advisor to Athira.
About Athira Pharma, Inc.Athira Pharma Inc.,
headquartered in the Seattle area, is a late clinical-stage
biopharmaceutical company focused on developing small molecules to
restore neuronal health and slow neurodegeneration. Athira aims to
provide rapid cognitive improvement and alter the course of
neurological diseases with its novel mechanism of action. Athira is
currently advancing its pipeline therapeutic candidates, targeting
the HGF/MET neurotrophic system, for Alzheimer’s and Parkinson’s
disease dementia, Dementia with Lewy bodies and neuropsychiatric
indications. For more information, visit www.athira.com. You can
also follow Athira on Facebook, LinkedIn and @athirapharma on
Twitter and Instagram.
Forward-Looking StatementsThis communication
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 fosgonimeton as a
potential treatment for Alzheimer’s disease, Parkinson’s disease
dementia, Dementia with Lewy bodies, 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
the timing of the Phase 2 clinical trial of fosgonimeton for
treatment of Parkinson’s disease dementia; interactions with
regulators and the timing thereof, including anticipated timing of
IND or equivalent submissions; expectations regarding the potential
efficacy and commercial potential of Athira’s product candidates;
the anticipated reporting of data; 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 such as “may,” “will,” “should,” “on
track,” “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 proxy contest at Athira’s annual
meeting; the preliminary data for Athira’s fosgonimeton product
candidate from the Phase 1a/b trials will not continue or persist
in current or planned clinical trials; cessation or delay of any of
the ongoing clinical trials and/or Athira’s development of
fosgonimeton and other product candidates may occur; future
potential regulatory milestones of fosgonimeton and other product
candidates, 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; the
regulatory process for Athira product candidates; the outcome of
legal proceedings that have been or may in the future be instituted
against us and certain of our directors and officers; clinical
trials may not demonstrate safety and efficacy of any of Athira’s
product candidates; Athira’s assumptions regarding the sufficiency
of its cash, cash equivalents and investments to fund its planned
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; the impact of competition; while P300
latency is a functional measure that is highly correlated with
cognition, Athira may not successfully establish a connection
between these P300 latency results and improved cognition;
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;
the 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 Contacts:Julie
RathbunAthira PharmaJulie.rathbun@athira.com206-769-9219
Andy Brimmer / Jamie Moser / Melissa JohnsonJoele Frank,
Wilkinson Brimmer Katcher 212-355-4449
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