{"id":508386,"date":"2021-06-30T12:23:10","date_gmt":"2021-06-30T16:23:10","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/the-law-offices-of-frank-r-cruz-announces-the-filing-of-a-securities-class-action-on-behalf-of-athira-pharma-inc-atha-investors\/"},"modified":"2021-06-30T12:23:10","modified_gmt":"2021-06-30T16:23:10","slug":"the-law-offices-of-frank-r-cruz-announces-the-filing-of-a-securities-class-action-on-behalf-of-athira-pharma-inc-atha-investors","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-law-offices-of-frank-r-cruz-announces-the-filing-of-a-securities-class-action-on-behalf-of-athira-pharma-inc-atha-investors\/","title":{"rendered":"The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Athira Pharma, Inc. (ATHA) Investors"},"content":{"rendered":"

<\/p>\n

The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Athira Pharma, Inc. (ATHA) Investors<\/b><\/p>\n

LOS ANGELES–(BUSINESS WIRE<\/a>)–The Law Offices of Frank R. Cruz<\/a> announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Athira Pharma, Inc. (\u201cAthira\u201d or the \u201cCompany\u201d) (NASDAQ: ATHA<\/a>) common stock pursuant and\/or traceable to the registration statement and prospectus (collectively, the \u201cRegistration Statement\u201d) issued in connection with the Company\u2019s September 2020 initial public offering (\u201cIPO\u201d or the \u201cOffering\u201d). Athira investors have until August 24, 2021<\/b> to file a lead plaintiff motion.\n<\/p>\n

\nIf you are a shareholder who suffered a loss, click here<\/a> to participate.\n<\/p>\n

\nAthira is a late-stage clinical biopharmaceutical company that is focused on developing small molecules to restore neuronal health and stop neurodegeneration.\n<\/p>\n

\nOn June 17, 2021, after the market closed, Athira announced that it had placed its president and Chief Executive Officer, Dr. Leen Kawas (\u201cKawas\u201d), on leave pending a review of actions stemming from doctoral research she conducted while at Washington State University (\u201cWSU\u201d).\n<\/p>\n

\nThe same day, STAT published an article stating that WSU was investigating claims that Dr. Kawas \u201cpublished several papers containing altered images while she was a graduate student.\u201d These papers \u201care foundational to Athira\u2019s efforts to treat Alzheimer\u2019s\u201d because they \u201cestablished that a particular molecule affects the activity of HGF.\u201d Though Athira is developing a different molecule than the one Kawas examined in the papers at issue, her \u201cdoctoral work laid the biological groundwork that Athira continues to use in their approach to treating Alzheimer\u2019s.\u201d\n<\/p>\n

\nOn this news, the Company\u2019s share price fell $7.09, or approximately 39%, to close at $11.15 per share on June 18, 2021, on unusually heavy trading volume.\n<\/p>\n

\nBy the commencement of this action, the Company\u2019s stock was trading as low as $10.34 per share, a nearly 40% decline from the $17 per share IPO price.\n<\/p>\n

\nThe Registration Statement was materially false and misleading and omitted to state: (1) that Kawas had published research papers containing improperly altered images while she was a graduate student; (2) that this purported research was foundational to Athira\u2019s efforts to develop treatments for Alzheimer\u2019s because it laid the biological groundwork that Athira was using in its approach to treating Alzheimer\u2019s; (3) that, as a result, Athira\u2019s intellectual property and product development for the treatment of Alzheimer\u2019s were based on invalid research; and (4) that, as a result of the foregoing, Defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects, were materially misleading and\/or lacked a reasonable basis.\n<\/p>\n

\nFollow us for updates on Twitter: twitter.com\/FRC_LAW<\/a>.\n<\/p>\n

\nIf you purchased Athira securities during the Class Period, you may move the Court no later than August 24, 2021 <\/b>to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Athira securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com<\/a>, or visit our website at www.frankcruzlaw.com<\/a>. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210630005394\/en\/<\/a><\/span><\/p>\n

\nThe Law Offices of Frank R. Cruz, Los Angeles
\n
Frank R. Cruz, 310-914-5007
\n
fcruz@frankcruzlaw.com
\n<\/a>
www.frankcruzlaw.com<\/a><\/p>\n

\n\u00a0\n<\/p>\n

KEYWORDS:<\/b> United States North America California<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Athira Pharma, Inc. (ATHA) Investors LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Athira Pharma, Inc. (\u201cAthira\u201d or the \u201cCompany\u201d) (NASDAQ: ATHA) common stock pursuant and\/or traceable to the registration statement and prospectus (collectively, the \u201cRegistration Statement\u201d) issued in connection with the Company\u2019s September 2020 initial public offering (\u201cIPO\u201d or the \u201cOffering\u201d). Athira investors have until August 24, 2021 to file a lead plaintiff motion. If you are a shareholder who suffered a loss, click here to participate. Athira is a … <\/p>\n

Continue reading “The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Athira Pharma, Inc. (ATHA) Investors”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-508386","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nThe Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Athira Pharma, Inc. 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