Athira Pharma Investor Alert | Recover Investment Losses

Athira Pharma Investor Alert | Goodman & Nekvasil P.A. May Recover Investor Losses

About Athira Pharma Inc. fka M3 Biotechnology

Athira Pharma Inc., formerly known as M3 Biotechnology, Inc., founded in 2011 by Leen Kawas, Joseph Harding, and John “Jay” Wright, and is a Bothel, Washington based late clinical-stage biopharmaceutical company.

According to Athira’s marketing materials, the company is aiming to “restore neuronal health for those suffering from neurological diseases, including Alzheimer’s”. According to the company’s website, Athira’s main product is a drug called ATH-1017 which reportedly targets one of the brain’s repair mechanism called HGF/MET which can help improve brain health and function.

Between October 2014 and June 2020, M3 Biotechnology nka Athira Pharma filed ten Regulation D notices reporting private securities offerings. In August 2020, the company filed a Draft Registration Statement announcing Athira’s plans to organize its initial public offering (IPO).

On September 18, 2020, Athira Pharma filed a Prospectus offering 12,000,000 shares of common stock at $17.00 per share, The company also announced the approval to be listed on the Nasdaq Global Select Market under the symbol “ATHA.”

The ATHA Price Per Share Declined Following News About Leadership

In a June 17, 2021 press release, Athira announced its co-founder and CEO Leen Kawas was placed on temporary leave “pending a review of actions stemming from doctoral research Dr. Kawas conducted while at Washington State University”. Following the announcement, the ATHA shares fell by almost 39%, to close at $11.15 per share the next day. On July 6, 2021 the price per share, as reported by Google Market Summary, was $10.84.

According to information obtained by STAT News, Kawas’s leave was reportedly in connection to allegations of altered images in several papers authored by Kawas. Dr. Leen Kawas’s work was published on PubPeer, a platform used to discuss and critique academic articles. The comments on PubPeer suggested that images in the papers could have been manipulated.

Kawas would be a second co-founder to step away from the company after Joseph Harding resigned from board of directors in August 2020.

Investors in Athira Pharma May Recover their Losses with Goodman & Nekvasil, P.A.

If you invested in Athira Pharma, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a St. Petersburg, FL law firm with a national practice representing victimized investors, has recovered more than $200 million dollars on behalf of victimized investors.

All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.

There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

If you incurred investment losses in Athira Pharma, and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.


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