Athira Pharma, Inc. ( (ATHA) ) has released its Q4 earnings. Here is a breakdown of the information Athira Pharma, Inc. presented to its investors.
Athira Pharma, Inc. is a clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and slow neurodegeneration, primarily targeting diseases such as ALS, Alzheimer’s, and Parkinson’s.
Athira Pharma recently announced its financial results for the year 2024, highlighting significant developments in its drug pipeline, particularly the completion of a Phase 1 clinical study for ATH-1105, a potential treatment for ALS. The company remains on track to begin dosing ALS patients in 2025.
Key financial metrics from the report include a decrease in research and development expenses to $70.7 million, down from $93.8 million in 2023, primarily due to reduced costs in the fosgonimeton program. The company’s cash position at the end of 2024 was $51.3 million, a significant decrease from $147.4 million in 2023. Athira also reported a net loss of $96.9 million, an improvement from the $117.7 million loss in the previous year.
Strategically, Athira is exploring alternatives to maximize shareholder value following the LIFT-AD trial results for fosgonimeton, which did not meet its primary endpoints. The company has paused further development of fosgonimeton while continuing to focus on ATH-1105 and potential partnerships.
Looking forward, Athira Pharma is optimistic about advancing ATH-1105 into further clinical trials, with management expressing confidence in its potential as a treatment for neurodegenerative diseases. The company is also actively exploring strategic options to enhance value for its shareholders.