NEW YORK, July 25, 2021 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Athira Pharma, Inc. (“Athira” or the “Company”) (NASDAQ:ATHA) and reminds investors of the August 24, 2021 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you suffered losses exceeding $50,000 investing in Athira stock or options between September 18, 2020 and June 17, 2021 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/ATHA.

There is no cost or obligation to you.

Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Delaware, Pennsylvania, California and Georgia.

As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) that CEO Dr. Leen Kawas had published research papers containing improperly altered images while she was a graduate student; (2) that this purported research was foundational to Athira’s efforts to develop treatments for Alzheimer’s because it laid the biological groundwork that Athira was using in its approach to treating Alzheimer’s; (3) that, as a result, Athira’s intellectual property and product development for the treatment of Alzheimer’s were based on invalid research; and (4) that, as a result of the foregoing, Defendants’ statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

On June 18, 2021, Athira shares plummeted 39% to $11.15, well below the $17.00 IPO price, after the Company disclosed that its Board decided to place Chief Executive Kawas on leave pending a review of actions stemming from research Dr. Kawas conducted while at Washington State University.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.  

Faruqi & Faruqi, LLP also encourages anyone with information regarding Athira’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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