Athira Pharma falls as Alzheimer's drug fails in mid-to-late stage trial

LeonaBio

03/09/2024 22:59

** Shares of drug developer Athira Pharma  ATHA.O  fall
71.5% to 81 cents after the bell
    ** Co says its trial failed to meet main goal in patients
with mild-to-moderate Alzheimer's disease
    ** The experimental drug, fosgonimeton, failed to reach
statistical significance in a test that measures cognition and
other functions, compared to placebo at 26 weeks
     ** Alzheimer's disease is a brain condition that causes a
progressive decline in memory, thinking, learning and organizing
skills
    ** Stock up ~16% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))