Athira reports Q2 net loss $24.3M; ACT-AD Phase 2 Alzheimer's trial missed primary endpoint

LeonaBio, Inc.

2023-Q2 EPS reported -$1.20

Net loss $24.3M ($0.65/share) vs $14.0M ($0.38/share) in Q2 2021; cash $282.2M.
ACT-AD Phase 2 trial of fosgonimeton did not meet primary endpoint (P300 latency).
Monotherapy subgroup showed ADAS-Cog11 improvement of -3.3 points vs placebo (not significant).
Statistically significant reduction in plasma NfL biomarker in monotherapy subgroup (p=0.018).
LIFT-AD Phase 3 enrollment ongoing; over 300 patients enrolled as of report date.

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