Athira Pharma (ATHA) Management Meeting Takeaways - Goldman Sachs
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Goldman Sachs analyst Graig Suvannavejh reiterated a Neutral rating and $50.00 price target on Athira Pharma (NASDAQ: ATHA) after hosting investor meetings to discuss the evolving competitive landscape in AD, especially in light of the upcoming 15th International Conference of Alzheimer’s and Parkinson’s Diseases (AD/PD), currently taking place.
The analyst stated "With key Phase 2 readouts for ATH-1017 not expected until 2022, 2021 marks a year of execution for the company. Main ATH-1017-related objectives involve (1) clinical trial site activation and patient enrollment in the smaller Phase 2 ACT-AD study (N=75) and in the larger Phase 2 LIFT-AD study (N=300), which depending on the strength of the data, could potentially be considered to be a registrational study to support FDA approval, and also (2) progress towards an investigational new drug application (IND) for ATH-1017 in Parkinson’s disease dementia (PDD), a next potential indication. Beyond ATH-1017, ATHA is also advancing its earlier stage assets, which are being developed as potential treatments for neuropsychiatric disorders, with a first IND targeted for YE21." He went on to state "ATHA represents a higher risk, but higher reward opportunity. That said, we came away encouraged by positive receptivity to ATHA, whose meetings involved investors both new to and long-standing with the company."
Shares of Athira Pharma closed at $20.22 yesterday.
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