Core Insights - Athena Gold Corporation has reported positive results from diamond drilling at its Excelsior Springs Project, with a notable return of 4.33 g/t Au over 14.4 meters [1] - Mammoth Minerals Limited is actively exploring the Excelsior Springs Project under an option agreement to earn an 80% interest over five years, which allows Athena to benefit from a free-carry to a Definitive Feasibility Study thereafter [1] Company Developments - The exploration update highlights the ongoing efforts and progress made at the Excelsior Springs Project in Nevada [1] - The partnership with Mammoth Minerals Limited is significant as it indicates a strategic collaboration that could enhance the project's value and development potential [1]

Core Insights - The assays from the Company's maiden drillhole, RIBN-DD-001, at the RIB North Discovery have confirmed it as the best exploration hole drilled to date at the Angilak Uranium Project [1] - RIBN-DD-001 assays returned a total composite uranium mineralization of 34.7 meters, encompassing seven zones from 287.0 meters to 439.9 meters, surpassing preliminary results reported on September 23rd, 2025 [1] - The widest continuous intersection in the hole, from 426.3 to 439.9 meters, returned 13.6 meters of composite uranium mineralization grading 0.53% U3O8, including a notable 1.1 meters grading 4.81% U3O8, with the highest-grade sample returning 8.16% U3O8 over 0.5 meters [1] - Mineralization was first intersected in sandstone over three intervals between 287.0 meters and 351.1 meters, with the fourth zone intersected directly above the unconformity at 356.7 meters, extending into graphitic basement rock below [1]

Financial Performance - The company reported net losses of $22.7 million and $81.9 million for the nine months ended September 30, 2025, and 2024, respectively, with an accumulated deficit of $428.9 million as of September 30, 2025[107]. - Net loss for the three months ended September 30, 2025, was $28.7 million, compared to a net loss of $6.6 million in Q3 2024, representing a 77% increase in loss[123]. - Total operating expenses for the three months ended September 30, 2025, were $6.9 million, down 77% from $29.6 million in the same period of 2024[123]. - Total operating expenses for the nine months ended September 30, 2025, were $23.7 million, a decrease of 72% from $85.3 million in the same period of 2024[129]. - Net cash used in operating activities was $26.3 million for the nine months ended September 30, 2025, compared to $71.2 million in 2024[142][143]. Cash and Investments - Cash, cash equivalents, and investments totaled $25.2 million as of September 30, 2025[107]. - The company anticipates that existing cash, cash equivalents, and investments will be sufficient to fund operations for at least the next 12 months[110]. - As of September 30, 2025, the company had $25.2 million in cash, cash equivalents, and investments, sufficient to fund operations for at least the next 12 months[134][136]. - The company has raised approximately $407.4 million in net cash proceeds since inception, primarily from equity securities[107]. - The company raised aggregate net cash proceeds of $407.4 million since inception, primarily from the issuance of common stock[133]. Research and Development - ATH-1105, the lead drug candidate, is currently in Phase 1 clinical trials for the treatment of amyotrophic lateral sclerosis (ALS) and has shown a favorable safety profile[99][102]. - The LIFT-AD trial for the previous lead drug candidate, fosgonimeton, did not reach statistical significance, leading to a pause in its development[100]. - The company has paused further development of fosgonimeton and shifted focus to the clinical development of ATH-1105[117]. - Research and development expenses decreased by $50.5 million, from $61.3 million in 2024 to $10.8 million in 2025, a reduction of 82%[130]. - Research and development expenses for the nine months ended September 30, 2025, were $10.8 million, down 82% from $61.3 million in the same period of 2024[129]. - The company expects to continue incurring research and development expenses as drug candidates advance into later stages of development[117]. - The current focus is on enhancing the neurotrophic HGF system to treat neurodegenerative diseases[98]. Operating Expenses - Research and development expenses decreased by $15.1 million, from $17.9 million in Q3 2024 to $2.8 million in Q3 2025, a reduction of 84%[123]. - General and administrative expenses decreased by approximately $3.6 million, from $7.6 million in Q3 2024 to $4.0 million in Q3 2025, a decrease of 47%[126]. - General and administrative expenses decreased by approximately $7.0 million, from $19.9 million in 2024 to $12.9 million in 2025[131]. - The company anticipates lower research and development and general administrative expenses in the near term due to a pause in the fosgonimeton program and a focus on ATH-1105[135]. - Total operating expenses for the nine months ended September 30, 2025, were $23.7 million, a decrease of 72% from $85.3 million in the same period of 2024[129]. Strategic Direction - The company is exploring strategic alternatives to maximize stockholder value, including potential acquisitions or partnerships[105]. - The company plans to build a commercial infrastructure to support future sales if drug candidates are successfully developed[106]. - The company is classified as a smaller reporting company and is not required to provide the information requested by Item 305 of Regulation S-K[154]. Other Income - Other income, net, decreased by $0.6 million, from $0.9 million in Q3 2024 to $0.3 million in Q3 2025, a decrease of 70%[127]. - Other income, net, decreased by $2.4 million, from $3.4 million in 2024 to $1.0 million in 2025[132]. Lease Obligations - The company has lease payment obligations of $1.0 million as of September 30, 2025, with $0.5 million due within 12 months[135].

Financial Performance - Athira Pharma reported a net loss of $6.6 million, or $1.68 per share, for the quarter ended September 30, 2025, compared to a net loss of $28.7 million, or $7.46 per share, for the same period in 2024[9][17]. - Cash, cash equivalents, and investments totaled $25.2 million as of September 30, 2025, down from $51.3 million as of December 31, 2024[8]. - Total operating expenses for the quarter were $6.9 million, down from $29.6 million in the same quarter of 2024[8][17]. Research and Development - Research and Development (R&D) expenses were $2.8 million for the quarter ended September 30, 2025, significantly lower than $17.9 million for the same quarter in 2024[8][17]. - Athira conducted a Phase 1 clinical trial of ATH-1105, enrolling 80 healthy volunteers, which demonstrated a favorable safety profile and dose proportional pharmacokinetics[4][8]. - The company aims to advance ATH-1105 into clinical trials for ALS patients following promising Phase 1 results[2][4]. - Athira's drug development pipeline includes candidates targeting neurodegenerative diseases such as ALS, Alzheimer's, and Parkinson's[3][4]. Strategic Initiatives - The company is exploring strategic alternatives to maximize stockholder value and has engaged Cantor Fitzgerald & Co. as an advisor[8][9]. - A 10-for-1 reverse stock split was implemented on September 17, 2025, to enhance the stock's marketability[8]. General and Administrative Expenses - General and Administrative (G&A) expenses decreased to $4.1 million for the quarter ended September 30, 2025, compared to $7.6 million for the same quarter in 2024[8][17].

Core Viewpoint - Athira Pharma is focused on maximizing stockholder value while advancing the clinical development of ATH-1105, a potential therapy for ALS, which has shown promising safety and pharmacokinetic profiles in Phase 1 trials [2][4]. Clinical Development & Pipeline Programs - Athira's pipeline includes small molecule drug candidates that target the neurotrophic hepatocyte growth factor (HGF) system, which is involved in neuroprotection and anti-inflammatory pathways in the central nervous system [3]. - ATH-1105 is designed to modulate the HGF system and is currently in clinical development for ALS, Alzheimer's disease, and Parkinson's disease [4]. Clinical Trial Results - The Phase 1 clinical trial of ATH-1105 enrolled 80 healthy volunteers and demonstrated a favorable safety profile, tolerability, dose proportional pharmacokinetics, and CNS penetration [7]. - Preclinical models of ALS have shown consistent beneficial effects from ATH-1105, including improvements in nerve and motor function, inflammation biomarkers, and survival rates [7]. Financial Results - As of September 30, 2025, Athira reported cash, cash equivalents, and investments of $25.2 million, down from $51.3 million at the end of 2024 [10]. - Research and Development (R&D) expenses for the quarter were $2.8 million, significantly lower than $17.9 million for the same period in 2024 [10]. - The net loss for the quarter was $6.6 million, or $1.68 per share, compared to a net loss of $28.7 million, or $7.46 per share, in the previous year [10][14]. Corporate Updates - Athira is exploring strategic alternatives to enhance stockholder value and has engaged Cantor Fitzgerald & Co. as an advisor in this process [7]. - A 10-for-1 reverse stock split was implemented on September 17, 2025, to potentially improve the stock's marketability [7].

Core Viewpoint - ATHA Energy Corp. has filed its final short form prospectus with various Canadian securities commissions, indicating progress in its private placement efforts [1] Group 1 - The company has received a receipt from the British Columbia Securities Commission, which acts as the principal regulator for this filing [1] - The prospectus qualifies up to 18,838,752 units that can be issued upon the exercise of 17,126,138 special warrants [1] - This filing is a follow-up to the company's previous announcement made on October 21, 2025, regarding its private placement [1]

Group 1 - ATHA Energy Corp. has filed its annual information form for the fiscal year ended December 31, 2024 [1] - The company has also filed a preliminary short form prospectus with securities commissions in multiple provinces [1] - The prospectus is related to the qualification of up to 18,838,752 units issuable upon the exercise of 17,126,138 special warrants [1]

Core Points - ATHA Energy Corp. is issuing a news release to clarify its disclosure regarding the Angilak Project following a review by the British Columbia Securities Commission (BCSC) [1] - The BCSC review identified deficiencies in the Company's prior technical disclosure, particularly concerning historical mineral resource estimates and the exploration target model [1]

Core Insights - A major new discovery has been made within the Mineralized RIB Corridor (MRC), specifically the RIB North Discovery, located approximately 1.4 km from the nearest drillhole at the RIB East Discovery [1] - The first drillhole at RIB North, RIBN-DD-001, has yielded the most robust mineralized intersection to date within the MRC and is considered one of the most significant intersections within the Angilak Uranium Project [1] - Drillhole RIBN-DD-001 intersected a total of 26.3 meters of composite uranium mineralization, including 1.9 meters of high-grade mineralization, across over 10 zones from 345.55 meters to 460.05 meters [1] - The hole featured 13.6 meters of continuous mineralization from 426.25 meters to 439.85 meters, which included 1.7 meters of high-grade mineralization with a maximum radioactivity of 55,730 counts per second (CPS) [1] - Mineralization was initially encountered directly above the unconformity at 356.7 meters, extending into graphitic basement rock [1]

Core Insights - ATHA has successfully closed a previously announced CAD $11.5 million over-subscribed bought deal [1] - The first two drill holes at the RIB West Discovery have intersected uranium mineralization over a strike length of approximately 340 meters [1] - This marks the third new discovery of uranium mineralization during the 2025 Angilak Exploration Program within the Angikuni Basin [1] - The RIB East Discovery is defined by eight mineralized drill holes, indicating shallow uranium mineralization across 7 million acres [1] - ATHA holds a 10% carried interest in key exploration projects in the Athabasca Basin operated by NexGen Energy Ltd [1]