Athira Pharma Announces Proposed Settlement of Stockholder Derivative Action
May 17 2024 - 5:00PM
Athira Pharma, Inc. (NASDAQ: ATHA), a late clinical-stage
biopharmaceutical company focused on developing small molecules to
restore neuronal health and slow neurodegeneration, today announced
that the U.S. District Court for the Western District of Washington
issued an order providing for preliminary approval of a proposed
settlement of the claims asserted nominally on behalf of Athira
against the individual defendants named in the previously disclosed
stockholder derivative actions entitled Bushansky v. Kawas et al.,
No. 2:22-cv-497 and Houlihan v. Kawas et al., No. 2:22-cv-620,
pending before the court. The proposed settlement calls for Athira
to adopt certain corporate governance reforms and pay lead
plaintiffs’ attorney’s fees, litigation expenses, and lead
plaintiff service awards.
The order set a final approval hearing for Thursday, July 18,
2024, at 10:30 am. As required by the order, the following
materials have been posted to the Investor Relations section of
Athira’s website (http://investors.athira.com/): the Zoom meeting
information for the final approval hearing, the Stipulation of
Settlement, a Summary Notice of Proposed Settlement of Stockholder
Derivative Action, and a Notice of Proposed Settlement of
Derivative Actions, Final Approval Hearing, and Right to
Appear.
About Athira Pharma, Inc.Athira Pharma, Inc.,
headquartered in the Seattle, Washington area, is a late
clinical-stage biopharmaceutical company focused on developing
small molecules to restore neuronal health and slow
neurodegeneration. Athira aims to alter the course of neurological
diseases by advancing its pipeline of therapeutic candidates that
modulate the neurotrophic HGF system, including fosgonimeton, which
is being evaluated for the potential treatment of mild-to-moderate
Alzheimer’s disease in the Phase 2/3 LIFT-AD trial that is expected
to report topline data in the second half of 2024. For more
information, visit www.athira.com. You can also follow Athira
on Facebook, LinkedIn and @athirapharma on X,
(formerly known as Twitter), and Instagram.
Investor & Media Contact:Julie
RathbunAthira PharmaJulie.rathbun@athira.com206-769-9219
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