PHILADELPHIA, Oct. 16, 2022 (GLOBE NEWSWIRE) — Kaskela Law LLC announces that it is investigating Athira Pharma, Inc. (“Athira” or the “Company”) (NASDAQ: ATHA) on behalf of the Company’s long-term investors. The investigation aims to determine whether the directors of Athira have violated securities laws and/or breached their fiduciary duties in connection with alleged misconduct by the company.

Recently, an amended securities fraud complaint was filed against Athira on behalf of certain investors who purchased shares of the Company’s common stock pursuant to and/or traceable to Athria’s September 2020 initial public offering (“IPO”).

According to the complaint, the company’s IPO filings with the Securities and Exchange Commission contained “false statements of material facts and omissions of material facts about the business and operations of the company, including misstatements and omissions thereon [Athira’s former CEO Leen] Kawas’ fake research into the compound underlying the company’s main product.

On June 17, 2021, Athira issued a press release titled “Mark Litton, Chief Operating Officer of Athira Pharma, assumes day-to-day management responsibilities of the Company; Leen Kawas has been placed on temporary leave of absence while at Washington State University pending board review of the doctoral actions. Following this disclosure, Athira shares fell $7.09 per share, or 39%, on high trading volume to close at $11.15 per share on June 18, 2021.

Athira Shareholders bought or acquired the shares of the company in September 2020 are encouraged to get in touch Kaskela Law LLC (Adrienne Bell, Esq.) at (484) 229-0750 or by email ([email protected]) or online at https://kaskelalaw.com/cases/athira-pharma-inc/ for more information about this investigation and your legal rights and choices.

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