NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the Western District of Washington on behalf of investors that purchased Athira Pharma, Inc. (NASDAQ: ATHA) common stock pursuant and/or traceable to the Company’s initial public offering conducted on or about September 2020 (the “IPO” or “Offering”). Investors have until August 24, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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Athira is a late-stage clinical biopharmaceutical company that is focused on developing small molecules to restore neuronal health and stop neurodegeneration.
On June 17, 2021, after the market closed, Athira announced that it had placed its president and Chief Executive Officer, Dr. Leen Kawas (“Kawas”), on leave pending a review of actions stemming from doctoral research she conducted while at Washington State University (“WSU”).
The same day, STAT published an article stating that WSU was investigating claims that Dr. Kawas “published several papers containing altered images while she was a graduate student.” These papers “are foundational to Athira’s efforts to treat Alzheimer’s” because they “established that a particular molecule affects the activity of HGF.” Though Athira is developing a different molecule than the one Kawas examined in the papers at issue, her “doctoral work laid the biological groundwork that Athira continues to use in their approach to treating Alzheimer’s.”
On this news, the Company’s share price fell $7.09, or approximately 39%, to close at $11.15 per share on June 18, 2021.
If you purchased Athira common stock pursuant and/or traceable to the IPO and suffered a loss, 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 email@example.com, 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.