Athira Pharma, Inc. ( (ATHA) ) has released its Q3 earnings. Here is a breakdown of the information Athira Pharma, Inc. presented to its investors.
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Athira Pharma, Inc. is a clinical-stage biopharmaceutical company focused on developing small molecules aimed at restoring neuronal health and slowing neurodegeneration, primarily targeting central and peripheral nervous system degenerative disorders.
In its latest earnings report for the quarter ended September 30, 2024, Athira Pharma reported a net loss, reflecting ongoing expenses related to its research and development activities. The company’s cash and cash equivalents stood at $68.9 million, marking a decrease from the previous quarter as the company continues to invest in its clinical programs.
Key financial highlights include a reduction in total operating expenses from the previous year, mainly due to decreased research and development costs. The company also completed a significant workforce reduction as part of its restructuring efforts, aiming to streamline operations and extend its financial runway. Despite these cost-cutting measures, the company continues to face substantial net losses.
Looking forward, Athira’s management remains committed to advancing its pipeline, particularly focusing on the development of ATH-1105. The company acknowledges the need for additional funding to continue its operations and achieve its strategic objectives, including potential public and private equity offerings or strategic partnerships.
