Athira Pharma pauses development of fosgonimeton in patients with mild to moderate Alzheimer's disease
Athira Pharma, a small drugmaker focused on neuroscience, is looking into the different paths it could take to “maximizing stockholder value,” after the company’s most advanced experimental medicine failed a key study.
In early September, Athira disclosed high-level results from a clinical trial evaluating that medicine, known as fosgonimeton, in people with mild to moderate Alzheimer’s disease.
The trial, which enrolled just north of 550 participants, found Athira’s drug was not significantly better than a placebo at slowing the cognitive and functional declines associated with Alzheimer’s. Athira has now disclosed that it has paused the development of Athira Pharma
The company has also tapped the investment firm Cantor Fitzgerald to serve as an advisory while it explores “strategic alternatives” and partnering options. Athira had nearly $69 million in cash, cash equivalents and investments at the end of September.
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