Athira Pharma To Focus On Advancement Of ATH-1105 For The Treatment Of Neurodegenerative Diseases, Includes A Reduction In Workforce Of ~70%. Athira Expects One-Time Costs Of ~$2.8M And Cost Savings Of ~$13.4M On An Annualized Basis
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Athira Pharma is focusing on advancing ATH-1105 for neurodegenerative diseases, including ALS and AD, while reducing its workforce by 70% to save costs. The company expects one-time costs of $2.8M and annual savings of $13.4M, extending its cash runway into Q1 2026.
September 17, 2024 | 1:02 pm
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Athira Pharma is prioritizing the development of ATH-1105 for neurodegenerative diseases, including ALS and AD, while implementing a 70% workforce reduction to save costs. This strategic shift is expected to result in $2.8M in one-time costs and $13.4M in annual savings, extending the company's cash runway into Q1 2026.
The focus on ATH-1105 and significant cost-saving measures indicate a strategic shift that could positively impact Athira's financial stability and future growth prospects. The workforce reduction and cost savings are likely to extend the company's cash runway, which is crucial for its ongoing and future clinical trials. This news is likely to be viewed positively by investors, as it shows a clear path forward for the company.
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