NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Athira Pharma, Inc. (NASDAQ: ATHA) on behalf of Athira stockholders. Our investigation concerns whether Athira has violated the federal securities laws and/or engaged in other unlawful business practices.
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On September 22, 2020, the Company closed its initial public offering, in which the Company sold and issued 12,000,000 shares of common stock at a price to the public of $17.00 per share. Also, in January 2021, the Company completed a follow-on public offering of its common stock. As part of the follow-on offering, the Company issued and sold 4,000,000 shares of its common stock at a public offering price of $22.50 per share.
On June 17, 2021, Athira issued a press release announcing that the Company’s Chief Operating Officer had “assumed day-to-day leadership responsibilities for the Company, effective immediately.” The Company further disclosed that the Board of Directors placed the President and Chief Executive Officer (“CEO”) “on temporary leave pending a review of actions stemming from doctoral research [the CEO] conducted while at Washington State University.” The Company also disclosed that the “Board has formed an independent special committee to undertake this review.”
On this news, the stock price plummeted and closed on June 18, 2021 at $11.15 per share, representing a 39% drop from the June 17, 2021 closing price of $18.24 per share.
If you purchased or otherwise acquired Athira shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.