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ATHA Athira Pharma

Athira, headquartered in the Seattle area, is a late clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and stop neurodegeneration. Athira aims to provide rapid cognitive improvement and alter the course of neurological diseases with its novel mechanism of action. Athira is currently advancing its lead therapeutic candidate, ATH-1017, a novel small molecule for Alzheimer’s and Parkinson’s dementia.

ATHA stock data

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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

10 Nov 21
6 Dec 21
31 Dec 21
Quarter (USD)
Sep 21 Jun 21 Mar 21 Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
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Cash on hand
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Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 107.33M 107.33M 107.33M 107.33M 107.33M 107.33M
Cash burn (monthly) 8.12M 4.87M 5.94M 4.53M (positive/no burn) 588.5K
Cash used (since last report) 18.11M 10.85M 13.25M 10.09M n/a 1.31M
Cash remaining 89.21M 96.48M 94.08M 97.23M n/a 106.02M
Runway (months of cash) 11.0 19.8 15.8 21.5 n/a 180.1

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
3 Nov 21 Rachel Lenington Stock Option Common Stock Grant Acquire A No No 15.34 150,000 2.3M 150,000
3 Nov 21 Mark Worthington Stock Option Common Stock Grant Acquire A No No 15.34 150,000 2.3M 150,000
17 Aug 21 Mark James Litton Common Stock Option exercise Acquire M No No 1.35 50,440 68.09K 114,873
17 Aug 21 Mark James Litton Stock Option Common Stock Option exercise Dispose M No No 1.35 50,440 68.09K 100,880
21 Jul 21 Hans Moebius Common Stock Option exercise Acquire M No No 1.35 15,762 21.28K 30,427
21 Jul 21 Hans Moebius Common Stock Option exercise Acquire M No No 1.35 12,610 17.02K 14,665
21 Jul 21 Hans Moebius Stock Option Common Stock Option exercise Dispose M No No 1.35 15,762 21.28K 15,763
21 Jul 21 Hans Moebius Stock Option Common Stock Option exercise Dispose M No No 1.35 12,610 17.02K 0
15 Jun 21 John M Fluke JR Common Stock Other Acquire J No No 0 1,000 0 144,884
15 Jun 21 John M Fluke JR Common Stock Other Dispose J Yes No 0 3,000 0 3,731

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

71.1% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 93 85 +9.4%
Opened positions 23 31 -25.8%
Closed positions 15 15
Increased positions 31 32 -3.1%
Reduced positions 23 13 +76.9%
13F shares
Current Prev Q Change
Total value 291.49M 310.52M -6.1%
Total shares 26.57M 26.36M +0.8%
Total puts 406.4K 367.1K +10.7%
Total calls 207.9K 183.8K +13.1%
Total put/call ratio 2.0 2.0 -2.1%
Largest owners
Shares Value Change
Perceptive Advisors 3.43M $32.14M 0.0%
BEN Franklin Resources 2.08M $19.54M +0.1%
BLK Blackrock 2.01M $18.85M +0.8%
RTW Investments 1.91M $17.88M 0.0%
Logos Global Management 1.86M $17.41M +31.5%
Venrock Healthcare Capital Partners II 1.69M $57.94M 0.0%
Vanguard 1.64M $15.4M +20.0%
VR Adviser 1.2M $11.22M -19.4%
Pathstone Family Office 1.15M $10.75M +73.3%
Citadel Advisors 1.14M $10.65M -5.1%
Largest transactions
Shares Bought/sold Change
Partner Fund Management 0 -678.25K EXIT
Pathstone Family Office 1.15M +484.84K +73.3%
TROW T. Rowe Price 0 -445.66K EXIT
Logos Global Management 1.86M +445K +31.5%
AMP Ameriprise Financial 442.12K +442.12K NEW
Wasatch Advisors 896.28K -326.5K -26.7%
VR Adviser 1.2M -288.81K -19.4%
Vanguard 1.64M +273.88K +20.0%
Point72 Asset Management 0 -199K EXIT
BAC Bank Of America 213.23K +196.48K +1173.1%

Financial report summary

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Competition
BiogenAngion Biomedica
Risks
  • Our ability to generate revenue and achieve profitability depends significantly on our ability to achieve a number of objectives.
  • Our development of ATH-1017 may never lead to a marketable product.
  • Our approach to targeting brain growth factors through the use of small molecules is based on a novel therapeutic approach, which exposes us to unforeseen risks. We have limited data from our Phase 1a and 1b clinical trials, including only 11 patients with mild to moderate AD, and we cannot be certain that future trials will yield similar data. In addition, our use of EEG methods to gather data requires placement of electrodes on a subject’s scalp and, if not properly placed, we may be unable to obtain the data sought or data obtained may be unreliable.
  • We have concentrated our research and development efforts on the treatment of CNS and peripheral degenerative disorders, a field that has seen very limited success in product development.
  • We may develop product candidates in combination with other therapies, which exposes us to additional risks.
  • We conduct certain research and development operations through our Australian wholly owned subsidiary. If we lose our ability to operate in Australia, or if our subsidiary is unable to receive the research and development tax credit allowed by Australian regulations, our business and results of operations could suffer.
  • Risks Relating to COVID-19 and Other Health Epidemics
  • Risks Relating to Our Financial Position and Capital Needs
  • We will require substantial additional funding to finance our operations, complete the development and commercialization of ATH-1017, and evaluate other and future product candidates. If we are unable to raise this funding when needed, we may be forced to delay, reduce, or eliminate our product development programs or other operations.
  • Risks Relating to Regulatory Approval and Other Legal Compliance Matters
  • Risks Relating to Our Reliance on Third Parties
  • If our third-party manufacturers use hazardous materials in a manner that causes injury or violates applicable law, we may be liable for damages.
  • If we engage in future acquisitions or strategic partnerships, this may increase our capital requirements, dilute our stockholders, cause us to incur debt or assume contingent liabilities, and subject us to other risks.
  • Risks Relating to Our Ability to Commercialize our Product
  • Risks Relating to Our Intellectual Property
  • Our success depends on our ability to protect our intellectual property and our proprietary technologies.
  • If the scope of any patent protection we obtain is not sufficiently broad, or if we lose any of our patent protection, our ability to prevent our competitors from commercializing similar or identical product candidates would be adversely affected.
  • Intellectual property rights do not necessarily address all potential threats to our competitive advantage.
  • Our commercial success depends significantly on our ability to operate without infringing the patents and other proprietary rights of third parties. Claims by third parties that we infringe their proprietary rights may result in liability for damages or prevent or delay our developmental and commercialization efforts.
  • We may not be successful in obtaining or maintaining necessary rights to our product candidates through acquisitions and in-licenses.
  • We may be involved in lawsuits to protect or enforce our patents or any future licensors’ patents, which could be expensive, time consuming and unsuccessful. Further, our issued patents or any future licensors’ patents could be found invalid or unenforceable if challenged in court.
  • Intellectual property litigation may lead to unfavorable publicity that harms our reputation and causes the market price of our common shares to decline.
  • Derivation proceedings may be necessary to determine priority of inventions, and an unfavorable outcome may require us to cease using the related technology or to attempt to license rights from the prevailing party.
  • Recent patent reform legislation could increase the uncertainties and costs surrounding the prosecution of our patent applications or those of any future licensors and the enforcement or defense of our issued patents or those of any future licensors.
  • Changes in U.S. patent law, or laws in other countries, could diminish the value of patents in general, thereby impairing our ability to protect our product candidates.
  • We may be subject to claims challenging the inventorship or ownership of our patents and other intellectual property.
  • Patent terms may be inadequate to protect our competitive position on our product candidates for an adequate amount of time.
  • If we do not obtain patent term extension for our product candidates, our business may be materially harmed.
  • We will not be able to protect our intellectual property rights throughout the world.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural, documentary, fee payment, and other requirements imposed by regulations and governmental patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • If our trademarks and trade names are not adequately protected, then we may not be able to build name recognition in our markets of interest and our business may be adversely affected.
  • If we are unable to protect the confidentiality of our trade secrets, our business and competitive position would be harmed.
  • We may be subject to claims that we or our employees have wrongfully used or disclosed alleged confidential information or trade secrets.
  • We may be subject to claims that we have wrongfully hired an employee from a competitor or that we or our employees have wrongfully used or disclosed alleged confidential information or trade secrets of their former employers.
  • Our rights to develop and commercialize our technology and product candidates may be subject, in part, to the terms and conditions of licenses granted to us by others.
  • If we fail to comply with our obligations in the agreements under which we license intellectual property rights from third parties or otherwise experience disruptions to our business relationships with our licensors, we could lose license rights that are important to our business.
  • The patent protection and patent prosecution for some of our product candidates may be dependent on third parties.
  • Risks Relating to Cybersecurity
  • Risks Relating to Ownership of Our Common Stock
  • Anti-takeover provisions in our charter documents and under Delaware or Washington law could make an acquisition of us difficult, limit attempts by our stockholders to replace or remove our current management and limit our stock price.
  • Our bylaws provide that the Court of Chancery of the State of Delaware and the federal district courts of the United States are the exclusive forums for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
  • Our advisors and consultants are classified as independent contractors, and we can face consequences if it is determined that they are misclassified as such.
  • We will continue to incur increased costs as a result of operating as a public company, and our management will be required to devote substantial time to new compliance initiatives and corporate governance practices.
  • If we are unable to maintain effective internal controls, our business, financial position and results of operations could be adversely affected.
Management Discussion
  • Research and development expenses increased by $9.5 million, from $3.8 million for the year ended December 31, 2019 to $13.3 million for the year ended December 31, 2020. The increase was driven primarily by an increase in expenses for ATH-1017 of $8.0 million related to start-up activities by our clinical research organization and clinical drug supply manufacturers for Phase 2 clinical trials, and to a lesser extent, by increases in personnel-related costs due primarily to an increase in headcount, facilities, and other costs supporting our general growth.
  • General and administrative expenses increased by $5.0 million, from $1.7 million for the year ended December 31, 2019 to $6.7 million for the year ended December 31, 2020. The increase was primarily due to an increase in corporate legal, accounting, technical and consulting services of $1.7 million, an increase in personnel-related costs of $1.9 million, due primarily to an increase in headcount to support our continued growth, and to a lesser extent, by increases in insurance and other administrative costs.
  • Grant income increased by $0.6 million, from $0.7 million for the year ended December 31, 2019 to $1.3 million for the year ended December 31, 2020. The increase was driven by our acceptance of the NIH grant, under which we recognized grant income of $1.1 million, offset by a decrease of $0.5 million in grant income recognized associated with our Part the Cloud grant.
Content analysis
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