Athira issues statement in resolution

Athira’s board of directors unanimously recommends that shareholders vote “FOR” its highly qualified nominees – Joseph Edelman, John M. Fluke, Jr. and Grant Pickering – on the WHITE proxy card

BOTHELL, Wash., May 16, 2022 (GLOBE NEWSWIRE) — Athira Pharma, Inc. (ATHA), a late-stage clinical-stage biopharmaceutical company focused on the development of small molecules to restore neuronal health and slow neurodegeneration, today issued the following statement in response to Richard A. Kayne’s suspension of his race for proxies:

We appreciate the strong support of our shareholders throughout this process and their recognition of the incredible talent and commitment of the people at Athira. We continue to urge shareholders to vote “FOR” the three nominees for the position of director of Athira at the WHITE proxy card.

Athira’s Board of Directors is highly qualified and actively engaged in the development and execution of Athira’s strategy. It was specifically designed for this phase of the company’s evolution. We have the right strategy, as well as the right management team and the right board of directors, to ensure the success of Athira. As we enter a crucial chapter, with top results from the ACT-AD Phase 2 study expected by the end of Q2 2022 and several more clinical milestones to come, the Company will remain focused on what is right. for Athira, our shareholders, and our patients and their caregivers. We look forward to continued dialogue with our shareholders as we implement our strategy.

The Athira Board of Directors is urging shareholders to vote “FOR” today on the three nominees for Athira directorship – Joseph Edelman, John M. Fluke, Jr. and Grant Pickering – on the WHITE proxy card.

Advisors

Goldman Sachs & Co. LLC is Athira’s financial advisor. Wilson Sonsini Goodrich & Rosati, PC is Athira’s legal counsel.

About Athira Pharma, Inc.
Athira Pharma Inc., headquartered in the Seattle area, is a late-stage clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and slow neurodegeneration. Athira aims to provide rapid cognitive improvement and alter the course of neurological diseases through its novel mechanism of action. Athira is currently advancing its pipeline of therapeutic candidates, targeting the HGF/MET neurotrophic system, for Alzheimer’s and Parkinson’s disease dementia, dementia with Lewy bodies and neuropsychiatric indications. For more information, visit www.athira.com. You can also follow Athira on Facebook, LinkedIn and @athirapharma on Twitter and instagram.

Forward-looking statements
This communication contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not based on historical facts. and include statements regarding fosgonimeton as a potential treatment for Alzheimer’s disease, Parkinson’s disease dementia, Lewy body dementia, and other dementias; Athira’s technology platform and potential therapies; future development plans; clinical and regulatory objectives and their timing, including the timing of the ACT-AD and LIFT-AD clinical trials and the timing of the Phase 2 clinical trial of fosgonimeton for the treatment of dementia in Parkinson’s disease; interactions with regulators and the timing thereof, including the expected timing of IND or equivalent submissions; expectations regarding the potential efficacy and commercial potential of Athira’s product candidates; the planned communication of the data; and Athira’s ability to advance its product candidates to later stages of development. Forward-looking statements generally include statements that are predictive in nature and depend on or refer to future events or conditions, and include words such as “may”, “will”, “should”, “on track”, ” would”, “expect”, “plan”, “believe”, “intend”, “pursue”, “continue” and other similar expressions, among others. All forward-looking statements are based on management’s current expectations regarding future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those stated or implied. by these forward-looking statements. These risks and uncertainties include, but are not limited to, proxy contests at Athira’s annual meeting; preliminary data for Athira’s fosgonimeton product candidate from Phase 1a/b trials will not continue or persist in ongoing or planned clinical trials; the termination or delay of any of Athira’s ongoing clinical trials and/or development of fosgonimeton and other product candidates may occur; potential future regulatory milestones for fosgonimeton and other product candidates, including those related to ongoing and planned clinical studies, may be insufficient to support regulatory submissions or approval; the impact of the COVID-19 pandemic on Athira’s business, research and clinical development plans, as well as operating timelines and results, including the impact on trial sites Athira clinics and contractors acting for or on behalf of Athira, may be more serious and more prolonged than currently anticipated; the regulatory process for Athira product candidates; the outcome of legal proceedings that have been or may be brought in the future against us and certain of our directors and officers; clinical trials may not demonstrate the safety and efficacy of any of Athira’s product candidates; Athira’s assumptions regarding the adequacy of its cash, cash equivalents and investments to fund its planned operations may be incorrect; Athira’s research and development efforts and ability to advance product candidates to later stages of development could fail; one or more of Athira’s product candidates may not be successfully developed, approved or commercialized; adverse conditions in domestic and global economic markets generally; the impact of competition; while P300 latency is a functional measure strongly correlated with cognition, Athira may fail to link these P300 latency results to improved cognition; regulatory agencies may be delayed in reviewing, commenting on or approving any of Athira’s clinical development plans due to the COVID-19 pandemic, which could further delay development timelines; the impact of competition; the impact of expanding product development and clinical activities on operating expenses; the impact of new or changing laws and regulations; as well as other risks detailed in Athira’s filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof, and Athira undertakes no obligation to update any forward-looking statements. Athira may not achieve the plans, intentions or expectations disclosed in its forward-looking statements, and you should not place undue reliance on any forward-looking statements.

Investor and media contacts:
Julie Rathbun
Athira Pharma
[email protected]
206-769-9219

Andy Brimmer/Jamie Moser/Melissa Johnson
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

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