Berman Tabacco Investigates Potential Securities Claims Against Athira Pharma, Inc. (ATHA)

Boston, Massachusetts--(Newsfile Corp. - June 18, 2021) -  Berman Tabacco, a national law firm representing investors, is investigating potential violations of the federal securities laws by Athira Pharma, Inc. ("Athira" or the "Company") (NASDAQ: ATHA). Athira, formerly known as M3 Biotechnology, Inc., is a biopharmaceutical company based in Bothell, Washington.

On September 22, 2020, the Company closed its initial public offering, in which the Company sold and issued 12,000,000 shares of common stock at a price to the public of $17.00 per share. Also, in January 2021, the Company completed a follow-on public offering of its common stock. As part of the follow-on offering, the Company issued and sold 4,000,000 shares of its common stock at a public offering price of $22.50 per share.

On June 17, 2021, Athira issued a press release announcing that the Company's Chief Operating Officer had "assumed day-to-day leadership responsibilities for the Company, effective immediately." The Company further disclosed that the Board of Directors placed the President and Chief Executive Officer ("CEO") "on temporary leave pending a review of actions stemming from doctoral research [the CEO] conducted while at Washington State University." The Company also disclosed that the "Board has formed an independent special committee to undertake this review."

In response to this news, Athira common shares were trading to as low as $9.70 per share, down from its previous close of $18.24 per share on June 17, 2021.

If you purchased Athira securities between September 18, 2020 and June 17, 2021, and would like more information regarding this investigation, or if you wish simply to share information about the investigation, please visit: https://www.bermantabacco.com/case/athira-pharma-inc/.

Berman Tabacco is a national law firm representing institutions and individuals in lawsuits, seeking to recoup losses caused by corporate and board misconduct and violations of the securities and antitrust laws. The firm has offices in Boston, Massachusetts and San Francisco, California.

This notice may constitute attorney advertising.

Contact:

Jay Eng, Esq.
(800) 516-9926
Email: law@bermantabacco.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/88034