PHILADELPHIA, Oct. 16, 2022 (GLOBE NEWSWIRE) — Kaskela Law LLC announces that it is investigating Athira Pharma, Inc. (“Athira” or the “Company”). 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 materials filed with the Securities and Exchange Commission contained “false statements of material facts and omissions of material facts about the company’s business and operations, including misrepresentations 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 “Athira Pharma Chief Operating Officer, Mark Litton, Assumes Day-to-Day Leadership Responsibilities of Company; Leen Kawas On Temporary Leave Pending Board Review of Actions Steming from Doctoral Research While at Washington State University.” Following this disclosure, Athira’s shares fell $7.09 per share, or 39%, on heavy trading volume to close on March 18. June 2021 at $11.15 per share.

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 (abell@kaskelalaw.com) or online at https://kaskelalaw.com/cases/athira-pharma-inc/ for more information about this investigation and your legal rights and choices.

Kaskela Law LLC exclusively represents investors in the securities fraud, corporate governance and merger &…