Athira Completes Dosing in Alzheimer's Study, Stock Up

Athira Pharma, Inc ATHA recently announced that it has dosed the last patient in the phase II/III LIFT-AD study, which is evaluating its pipeline candidate, fosgonimeton for the treatment of mild-to-moderate Alzheimer's disease (AD). Shares of the company were up 29.4%, following the announcement of the news.

The LIFT-AD study evaluates once-daily fosgonimeton (40 mg) subcutaneous injection versus placebo over a treatment period of 26 weeks in mild-to-moderate AD patients. The study is designed to assess the treatment effects of fosgonimeton across multiple aspects of AD.

The primary endpoint of the LIFT-AD study is to see the change from baseline following 26 weeks of treatment using the Global Statistical Test, which evaluates cognition and function, the two key measures of disease progression.

Other secondary and exploratory endpoints are changes in plasma biomarkers of neurodegeneration, protein pathology and neuroinflammation.

Alzheimer's disease is a devastating neurodegenerative disorder characterized by the accumulation of tau tangles and amyloid beta (Aβ) plaques in the brain.

Shares of Athira have rallied 39.5% in the year so far against the industry's decline of 7.1%.

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Top-line data from the LIFT-AD study is now expected by the end of the third quarter of 2024.

The company plans to present full data from the LIFT-AD study at the Clinical Trials on Alzheimer's Disease conference, which is scheduled to take place later in the year.

Notably, eligible patients from the LIFT-AD study and the phase II ACT-AD study will enroll in the open-label extension study, which can provide insights into the long-term safety and long-term effects of fosgonimeton.

Fosgonimeton, a potentially first-in-class, small molecule drug candidate, is designed to modulate the neurotrophic hepatocyte growth factor system to protect and maintain neuronal health and function.

Apart from AD, fosgonimeton is also being evaluated in the phase II SHAPE study for the potential treatment of Parkinson's disease, dementia and dementia with Lewy bodies.

In the absence of a marketed product, the successful development of fosgonimeton, along with other pipeline candidates, remains in key focus for Athira.

Zacks Rank & Stocks to Consider

Athira currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the healthcare sector are Acrivon Therapeutics, Inc. ACRV, Adaptive Biotechnologies Corporation ADPT and RAPT Therapeutics, Inc. RAPT, each holding a Zacks Rank #2 (Buy) at present.

In the past 60 days, estimates for Acrivon Therapeutics' 2024 loss per share have narrowed from $3.05 to $2.47. Loss per share estimates for 2025 have narrowed from $3.04 to $2.55. Year to date, ACRV shares have rallied 44.9%.

ACRV's earnings beat estimates in three of the trailing four quarters and missed the same on the remaining occasion, the average surprise being 3.56%.

In the past 60 days, estimates for Adaptive Biotechnologies' 2024 loss per share have narrowed from $1.30 to $1.29, while loss per share estimates for 2025 have narrowed from $1.09 to $1.02. Year to date, ADPT shares have declined 27.7%.

ADPT's earnings beat estimates in two of the trailing four quarters, meeting the same once and missing on the remaining occasion, the average surprise being 0.65%.

In the past 60 days, estimates for RAPT Therapeutics' 2024 loss per share have narrowed from $3.03 to $2.93. Loss per share estimates for 2025 have narrowed from $2.08 to $2.05. Year to date, RAPT shares have declined 87.1%.

RAPT's earnings beat estimates in two of the trailing four quarters while missing the same on the remaining two occasions, the average surprise being 3.19%.

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