Financial Performance - The company reported net losses of $22.8 million for the six months ended June 30, 2021, compared to $3.8 million for the same period in 2020, indicating a significant increase in losses [128]. - As of June 30, 2021, the company had an accumulated deficit of $63.9 million and cash, cash equivalents, and investments totaling $349.9 million [128]. - The company has not generated any revenues related to its products since inception and does not have any products approved for commercial sale [123]. - Total operating expenses for the six months ended June 30, 2021, were $27.4 million, a 679% increase from $3.5 million in the same period of 2020 [156]. - The net loss for the six months ended June 30, 2021, was $22.8 million, compared to a net loss of $3.8 million for the same period in 2020, reflecting a 502% increase [156]. - Net cash used in operating activities was $14.6 million for the six months ended June 30, 2021, compared to $4.0 million for the same period in 2020 [173]. Research and Development - The lead candidate, ATH-1017, is in a Phase 2/3 clinical trial for the treatment of mild-to-moderate Alzheimer's disease, with topline results expected by the end of 2022 [121]. - Research and development expenses increased by 617% to $12.0 million for the three months ended June 30, 2021, compared to $1.7 million for the same period in 2020 [149]. - Research and development expenses for the six months ended June 30, 2021, totaled $19.5 million, a 758% increase from $2.3 million in the prior year [156]. - The company expects substantial increases in research and development expenses as it conducts Phase 2 and Phase 2/3 clinical trials for ATH-1017 [139]. - Direct costs for ATH-1017 increased by 635% to $10.2 million for the three months ended June 30, 2021, compared to $1.4 million in the same period of 2020 [151]. - Research and development expenses increased by $17.2 million, from $2.3 million for the six months ended June 30, 2020 to $19.5 million for the six months ended June 30, 2021, primarily driven by an increase in expenses for ATH-1017 of $14.6 million [158]. Funding and Cash Flow - The company has raised approximately $407.4 million in net cash proceeds since inception, primarily from equity securities [128]. - The company expects to require substantial additional funding to support ongoing operations and product development [132]. - The company anticipates that its existing cash, cash equivalents, and investments will be sufficient to fund operating expenses and capital expenditures at least through 2022 [132]. - Net cash provided by financing activities was $96.9 million for the six months ended June 30, 2021, primarily from a follow-on public offering [176]. - Future funding requirements will depend on various factors, including the scope and results of ongoing clinical trials and the ability to establish collaborations [168]. - The company expects to finance operations through the sale of equity securities, debt financings, or other capital until significant revenue is generated from product sales [165]. Legal and Regulatory Issues - The company is currently facing multiple securities class action lawsuits alleging misleading statements related to its business and research [190]. - The lawsuits claim that the company's positive statements were materially misleading due to undisclosed issues with research conducted by the CEO [190]. - An independent special committee is reviewing the CEO's doctoral research papers in connection with the ongoing legal proceedings [193]. - The company cannot predict the outcome of the lawsuits, which could materially affect its business and financial condition [193]. Operational Expenses - General and administrative expenses rose by 702% to $4.6 million for the three months ended June 30, 2021, up from $0.6 million in the prior year [149]. - General and administrative expenses rose by $6.6 million, from $1.3 million for the six months ended June 30, 2020 to $7.9 million for the six months ended June 30, 2021, mainly due to increased personnel-related costs and insurance costs [160]. - The company anticipates significant increases in general and administrative expenses due to growth and compliance with public company regulations [144]. Grant Income - Grant income for the three months ended June 30, 2021, was $2.6 million, recognized from the NIH grant, with no grant income reported in the same period of 2020 [153]. - Grant income increased by $4.4 million, from less than $0.1 million for the six months ended June 30, 2020 to $4.4 million for the six months ended June 30, 2021, driven by the acceptance of an NIH grant [161]. - Grant income associated with the NIH grant is expected to increase, with potential total funding of up to $15.2 million [145]. Internal Controls - The company maintains effective disclosure controls and procedures, ensuring timely reporting and communication to management [185]. - No changes in internal control over financial reporting were reported during the quarter ended June 30, 2021, that materially affected internal controls [187].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission File Number: 001-39503 Athira Pharma, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANG ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |----------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------- ...