Athira Pharma Announces Proposed Settlement of Stockholder Derivative Action

Core Points - Athira Pharma, Inc. has received preliminary approval from the U.S. District Court for a proposed settlement related to stockholder derivative actions against individual defendants [1] - The settlement includes corporate governance reforms and payment of attorney's fees and expenses [1] - A final approval hearing is scheduled for July 18, 2024 [2] Company Overview - Athira Pharma is a late clinical-stage biopharmaceutical company based in the Seattle area, focusing on developing small molecules to restore neuronal health and slow neurodegeneration [3] - The company is advancing its pipeline, including fosgonimeton, which is being evaluated for treating mild-to-moderate Alzheimer's disease in a Phase 2/3 trial expected to report data in the second half of 2024 [3]