Athira Pharma Stock Plummets After CEO Placed On Temporary Leave

Athira Pharma Inc ATHA CEO Leen Kawas has been placed on temporary leave until the company completes a review “stemming from doctoral research Dr. Kawas conducted while at Washington State University.”
The 10-year-old company, which is developing drugs for treating Alzheimer’s disease, said that Chief Operating Officer Mark Litton would assume day-to-day responsibilities during Kawas’ leave.
She will remain on the board.
The company said it was not commenting on the matter until the review is complete, and Kawas was not immediately available for comment.
Athira went public last September, raising $204 million after pricing shares at $17.
Though the company did not reveal the reasons behind the investigation, according to STAT News, the allegations are related to altered images in four separate papers on which Leen Kawas is the lead author.
Price Action: ATHA shares are down 29.9% at $12.79 during the premarket trading session on the last check Friday.