Athira Pharma (ATHA) Plans to Raise $160 Million in September 18th IPO

Athira Pharma (ATHA) plans to raise $160 million in an initial public offering (IPO) on Friday, September 18th, IPO Scoop reports. The company will issue 10,000,000 shares at $15.00-$17.00 per share.

Athira Pharma has a market-cap of $461 million.

Goldman Sachs, Jefferies and Stifel served as the underwriters for the IPO and JMP Securities was co-manager.

Athira Pharma provided the following description of their company for its IPO: ”  We are a late clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and stop neurodegeneration. With our product candidates, we aim to provide rapid cognitive improvement and alter the course of neurological diseases with our novel mechanism of action. Our approach is designed to augment neuronal growth factor signaling through HGF/MET, a naturally occurring regenerative system. We believe enhancing HGF/MET signaling has the potential to protect existing neurons from damage, reduce inflammation, promote regeneration, and positively modulate brain activity. We anticipate that all of these characteristics may improve neuronal health and translate into clinical benefits. Our pipeline is built from our proprietary drug discovery platform, or ATH platform, and consists of a series of small molecules that are designed to target either (1) the central nervous system, or CNS, by crossing the blood brain barrier, or BBB, or (2) the peripheral nervous system. Our lead candidate, ATH-1017, is a subcutaneous administered, BBB-penetrating, small molecule HGF/MET activator. In our Phase 1a and Phase 1b clinical trials, ATH-1017 for the treatment of Alzheimer’s disease, or AD, was well tolerated with no serious adverse events. These clinical trials recruited 88 subjects, including 11 subjects with mild-to-moderate AD.  “.

Athira Pharma was founded in 2011 and has 15 employees. The company is located at 4000 Mason Road, Suite 300, Seattle, WA 98195, US and can be reached via phone at (206) 221-8112 or on the web at http://www.athira.com.

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