Athira Pharma(US:ATHA) Globenewswire·2025-12-18 12:02Core Viewpoint - Athira Pharma has acquired the rights to develop and commercialize lasofoxifene, a selective estrogen receptor modulator (SERM), for the treatment of metastatic breast cancer, representing a significant opportunity in a multi-billion dollar market [2][3][4]. Financing and Development - Athira announced a $90 million upfront financing through private placement, co-led by Commodore Capital, Perceptive Advisors, and TCGX, with potential additional funding of up to $146 million through warrants [4][9]. - The financing aims to support the development of lasofoxifene through key clinical and regulatory milestones, with sufficient capital projected to last into 2028 [4][9]. Clinical Trials and Data - The ongoing Phase 3 ELAINE-3 clinical trial is over 50% enrolled, with pivotal data expected in mid-2027 [2][19]. - Previous Phase 2 trials (ELAINE-1 and ELAINE-2) demonstrated lasofoxifene's potential, showing significant progression-free survival and objective response rates in heavily pre-treated patients [17][18]. Market Opportunity - The metastatic breast cancer treatment market is projected to grow from $17.1 billion in 2021 to $41.7 billion by 2030, with a compound annual growth rate (CAGR) of approximately 10.4% [14][15]. - Approximately 40% of breast cancer patients develop ESR1 mutations, creating a substantial market for lasofoxifene as a preferred endocrine therapy [5][14]. License Agreement Details - Athira has entered into a license agreement with Sermonix Pharmaceuticals, which includes a pre-funded warrant for approximately 5.5 million shares and potential milestone payments of up to $100 million based on commercialization success [6][9]. Company Overview - Athira Pharma is focused on developing novel therapeutics for high unmet medical needs, including treatment-resistant metastatic breast cancer and neurodegenerative diseases [23].