SAN FRANCISCO, CA / ACCESSWIRE / July 9, 2021 / Hagens Berman calls on Athira Pharma, Inc. (NASDAQ: ATHA) Investors with significant losses, file your losses now. A securities class action has been filed and certain investors may have valuable claims.
School lesson: September 18, 2020 – June 17, 2021
Deadline of the main plaintiff: August 24, 2021
Contact a lawyer now:ATHA@hbsslaw.com
Athira Pharma, Inc. (ATHA) Securities Class Action:
Since going public in September 2020, Athira and senior management have repeatedly emphasized the importance of CEO Leen Kawas’ doctoral thesis for the company’s product candidates for the treatment of Alzheimer’s disease.
According to the lawsuit, defendants failed to disclose to investors that the research conducted by Kawas, which formed the basis of Athira’s product candidates and intellectual property, was tainted by Kawas’ scientific misconduct, including the manipulation of key data.
According to the lawsuit, investors began to learn the truth after the market closed on June 17, 2021 when the company announced that its board of directors was taking Kawas on a temporary leave pending review of published research by Kawas at Washington State University . On the same day, STAT News reported that Athira’s decision was based on allegations of altered images in four different articles, of which Kawas was the lead author. STAT reported that Washington State University is also conducting a review and “[t]he allegedly altered images calls into question the validity of entire studies, said several Alzheimer’s experts.
Additionally, Barron’s reported Stifel analyst Paul Matteis said:[w]e really don’t know how to process this development “and”[t]he scientific hypothesis behind Athira grew out of the work [that] Dr. Kawas graduated, so there is a risk here that anything that comes out of this research could clearly have a negative impact on how we / investors view the asset and / or management’s credibility. “
The story goes on
This news caused the price of Athira shares to decline.
“We are focusing on investor losses and proving that the defendants knew that Kawas’ doctoral thesis did not support the company’s lead product candidate, ATH-1017,” said Reed Kathrein, who led the investigation.
If you are an Athira investor and are experiencing significant losses or have knowledge that may aid the company’s investigation, click here to discuss your statutory rights with Hagens Berman.
Whistleblower: Individuals with non-public information about Athira should consider their options to assist with the investigation or to use the SEC’s whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards totaling up to 30 percent for each successful SEC recovery. Further information is available from Reed Kathrein at 844-916-0895 or send an email to ATHA@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with eight offices in eight cities across the country and over eighty lawyers. The firm represents investors, whistleblowers, employees and consumers in complex legal disputes. You can find out more about the firm and its successes at hbsslaw.com. For the latest news, visit our newsroom or follow us on Twitter @classactionlaw.
Reed Kathrein, 844-916-0895
SOURCE: Hagens Berman
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