Athira Pharma, a Phase 2/3 biotech developing small molecule therapies for neurodegeneration, announced terms for its IPO on Monday.
The Seattle, WA-based company plans to raise $160 million by offering 10 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Athira Pharma would command a fully diluted market value of $480 million.
The company is developing small molecule therapies to restore neuronal health and stop neurodegeneration through its ATH platform. Athira's lead candidate, ATH-1017, demonstrated improvements in brain network activity indicating potentially positive effects on brain function in nonclinical studies and Phase 1 clinical trials. The company plans to initiate a Phase 2/3 clinical trial for ATH-1017 by the end of 2020.
Athira Pharma was founded in 2011 and plans to list on the Nasdaq under the symbol ATHA. Goldman Sachs, Jefferies and Stifel are the joint bookrunners on the deal. It is expected to price during the week of September 14, 2020.
