UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 Title of each class Trading Symbol Name of each exchange on which registered American Depositary Shares, each representing sixty Ordinary Shares ATHE NASDAQ Capital Market FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT ...

Financial Performance - For the fiscal year ended June 30, 2019, the company reported a net loss of A$12,337,830, compared to A$8,265,737 in 2018 and A$7,542,076 in 2017, indicating a significant increase in losses [23]. - The company's accumulated deficit as of June 30, 2019, reached A$141,236,838, reflecting ongoing financial challenges since its inception in 1997 [23]. - Cash and cash equivalents decreased to A$14,399,904 in 2019 from A$15,235,556 in 2018, indicating a decline in liquidity [21]. - The company raised US$1,163,562 from the sale of ordinary shares in the year ended June 30, 2019, and an additional US$191,912 subsequently, to support ongoing operations [27]. - The company expects to continue incurring operating losses for the foreseeable future as it expands research and development activities and commences clinical trials [22]. Research and Development - Research and development expenses for the year were A$12,983,185, up from A$6,698,016 in 2018, highlighting increased investment in product development [20]. - The company has not yet advanced any product candidates to market, which poses a risk to future revenue generation and profitability [30]. - The company may need to prioritize the allocation of development resources towards its most promising product candidates due to the constant availability of new information that could impact product development [41]. - Retaining key personnel and cultivating academic and scientific collaborations are critical for the company's research and development efforts [42]. - The company has established a 'two tier' Translational Research program to enhance its pipeline, focusing on new chemical entity design and translational animal modeling [147]. Market and Competition - The biotechnology and pharmaceutical industries are subject to rapid technological changes, and the company faces competition from larger firms with greater resources [45]. - Market acceptance of the company's products is uncertain and depends on factors such as regulatory approvals, safety, clinical efficacy, and pricing policies [47]. - The company currently lacks the resources to manufacture its product candidates on a clinical or commercial scale and relies on third parties for manufacturing [49]. - The company has no experience in marketing, sales, or distribution of pharmaceutical products, which could impair its ability to successfully market its products [54]. - The company may face challenges in obtaining reimbursement for its products from healthcare insurers, which could adversely affect its future revenues [56]. Regulatory and Compliance Risks - Regulatory approvals are necessary for the commercialization of the company's pharmaceutical products, and failure to obtain these approvals could significantly impact its business [64]. - The company must demonstrate the safety and efficacy of its product candidates through rigorous testing before obtaining regulatory approvals, which can take many years [65]. - Legislative changes, such as the Affordable Care Act, are expected to increase industry rebates for drugs under Medicaid, significantly affecting the pharmaceutical industry [75]. - Non-compliance with Medicaid reporting obligations could lead to penalties and adversely affect the company's financial condition and growth prospects [76]. - The pharmaceutical industry is subject to extensive regulation, and potential legislative changes could increase drug development costs and impact revenue generation [82]. Intellectual Property - The company’s success depends on its ability to protect intellectual property, including obtaining and maintaining patents and licenses [84]. - The risk of patent expiration could lead to increased competition, potentially affecting the company's ability to recover development costs [90]. - The company may face difficulties in protecting intellectual property rights in certain jurisdictions, which could diminish their value and competitive position [92]. - Alterity Therapeutics filed a new provisional patent application in March 2019 for over 180 novel compounds, advancing its patent portfolio [206]. - Patents for 8-hydroxyquinoline derivatives have been granted in multiple countries, including the USA, Europe, and Australia, enhancing protection for PBT2 [212]. Shareholder and Governance Issues - Life Biosciences LLC owns 31.35% of the outstanding ordinary shares and can increase its ownership to 57.81% through warrants, significantly influencing company management and decisions [108]. - The company has the right to issue up to 25% of its outstanding ordinary shares in a twelve-month period without shareholder approval, potentially leading to dilution of existing shareholders [117]. - The lack of a majority of independent directors on the Board may reduce oversight on executive management and affect corporate governance issues [126][127]. - Changes in the board of directors, including the appointment of new directors, may lead to operational changes and affect the company's business strategies [111]. Clinical Development and Trials - Alterity Therapeutics is developing first-in-class therapies for neurodegenerative diseases, with its lead drug candidate PBT434 showing promising results in its Phase 1 clinical program [133]. - PBT434 has demonstrated pre-clinical evidence of reducing alpha-synuclein aggregation and improving motor function in animal models of Parkinson's disease and Multiple System Atrophy (MSA) [133]. - The company is focusing on the treatment of Multiple System Atrophy (MSA), a debilitating disease with no approved treatments, and has received Orphan Drug designation for PBT434 [183]. - PBT2, the company's candidate for Alzheimer's disease, completed Phase I trials showing it was well tolerated and suitable for Phase II development [159]. - The Phase IIa clinical trial for PBT2 in Huntington disease, known as the Reach2HD Trial, involved 109 patients and demonstrated safety and tolerability [192].