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Legislation Places of work of Howard G. Smith Reminds Buyers of Looming Deadline within the Class Motion Lawsuit Towards Athira Pharma, Inc. (ATHA)

BENSALEM, Pa. – ­­, Aug. 18, 2021 /PRNewswire/ — Legislation Places of work of Howard G. Smith reminds buyers of the upcoming August 24, 2021 deadline to file a lead plaintiff movement within the case filed on behalf of buyers who bought Athira Pharma, Inc. (“Athira” or the “Firm”) (NASDAQ: ATHA): (a) widespread inventory pursuant and/or traceable to the registration assertion and prospectus (collectively, the “Registration Assertion”) issued in reference to the Firm’s September 2020 preliminary public providing (“IPO” or the “Providing”); and/or (b) securities between September 18, 2020 and June 17, 2021, inclusive (the “Class Interval”).

Buyers struggling losses on their Athira investments are inspired to contact the Legislation Places of work of Howard G. Smith to debate their authorized rights on this class motion at 888-638-4847 or by electronic mail to [email protected].

Athira is a late-stage scientific biopharmaceutical firm that’s centered on growing small molecules to revive neuronal well being and cease neurodegeneration.

On June 17, 2021, after the market closed, Athira introduced that it had positioned its president and Chief Government Officer, Dr. Leen Kawas (“Kawas”), on go away pending a evaluate of actions stemming from doctoral analysis she carried out whereas at Washington State College (“WSU”). 

The identical day, STAT printed an article stating that WSU was investigating claims that Dr. Kawas “printed a number of papers containing altered photos whereas she was a graduate pupil.” These papers “are foundational to Athira’s efforts to deal with Alzheimer’s” as a result of they “established {that a} explicit molecule impacts the exercise of HGF.” Although Athira is growing a special molecule than the one Kawas examined within the papers at challenge, her “doctoral work laid the organic groundwork that Athira continues to make use of of their strategy to treating Alzheimer’s.”

On this information, the Firm’s share worth fell $7.09, or roughly 39%, to shut at $11.15 per share on June 18, 2021, on unusually heavy buying and selling quantity.

By the graduation of this motion, the Firm’s inventory was buying and selling as little as $10.34 per share, an almost 40% decline from the $17 per share IPO worth.

The Registration Assertion was materially false and deceptive and omitted to state: (1) that Kawas had printed analysis papers containing improperly altered photos whereas she was a graduate pupil; (2) that this purported analysis was foundational to Athira’s efforts to develop therapies for Alzheimer’s as a result of it laid the organic groundwork that Athira was utilizing in its strategy to treating Alzheimer’s; (3) that, consequently, Athira’s mental property and product improvement for the remedy of Alzheimer’s have been primarily based on invalid analysis; and (4) that, on account of the foregoing, Defendants’ optimistic statements in regards to the Firm’s enterprise, operations, and prospects, have been materially deceptive and/or lacked an inexpensive foundation.  

For those who bought or in any other case acquired Athira widespread inventory pursuant and/or traceable to the IPO and/or securities in the course of the Class Interval, it’s possible you’ll transfer the Courtroom no later than August 24, 2021 to ask the Courtroom to nominate you as lead plaintiff in the event you meet sure authorized necessities. To be a member of the category motion you needn’t take any motion at the moment; it’s possible you’ll retain counsel of your selection or take no motion and stay an absent member of the category motion. For those who want to be taught extra about this class motion, or when you have any questions regarding this announcement or your rights or pursuits with respect to those issues, please contact Howard G. Smith, Esquire, of Legislation Places of work of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by phone at (215) 638-4847, toll-free at (888) 638-4847, or by electronic mail to [email protected], or go to our web site at www.howardsmithlaw.com.

This press launch could also be thought-about Legal professional Promoting in some jurisdictions below the relevant regulation and moral guidelines.

Contacts
Legislation Places of work of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com

SOURCE Legislation Places of work of Howard G. Smith

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