Why Athira Pharma Stock Is Plunging

Athira Pharma Inc ATHA shares are falling Wednesday after the company announced topline results from its exploratory ACT-AD Phase 2 study of fosgonimeton in patients with mild-to-moderate Alzheimer's disease.

Athira said the primary endpoint of change in biomarker ERP P300 latency was not statistically significant in the study.

Fosgonimeton is a small molecule designed to enhance the activity of hepatocyte growth factor and its receptor to impact neurodegeneration and regenerate brain tissue.

Full analysis results are expected to be presented at the Alzheimer's Association International Conference, beginning July 31.

Athira is a late clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and slow neurodegeneration.

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ATHA Price Action: Athira has traded between $16.65 and $7.56 over a 52-week period.

The stock was down 68.9% at $2.62 at press time, according to data from Benzinga Pro.

Photo: jarmoluk from Pixabay.