---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-323786"
form_type: "8-K/A"
ticker: "LONA"
cik: "0001620463"
company_name: "LeonaBio, Inc."
filed_at: "2025-12-18T23:59:59+00:00"
generated_at: "2026-05-16T12:44:51.475407+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Athira Pharma licenses lasofoxifene rights, raises $90M in PIPE financing

## Summary
- Licensed exclusive rights to oral lasofoxifene from Sermonix and Ligand for $34.9M in equity, plus monthly payments and up to $100M milestones.
- PIPE raises ~$90M gross from Commodore, TCGX, Perceptive and others at $6.35/share with warrants exercisable after ELAINE-3 milestones.
- Both PIPE and Sermonix closings expected December 23, 2025; proceeds for working capital, excluding debt repayment or stock redemption.
- Commodore and TCGX each get board designation rights if holding 5%+; company to seek resignation of two current directors within 6 months.
- Joseph Edelman (Perceptive) is a board member; Perceptive affiliates hold ~29% of Sermonix capital stock.

## SEC filing metadata
- accession: 0001193125-25-323786
- form_type: 8-K/A
- ticker: LONA
- cik: 0001620463
- company_name: LeonaBio, Inc.
- filed_at: 2025-12-18T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1620463/000119312525323786/0001193125-25-323786-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1620463/000119312525323786/atha-20251218.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-323786
- JSON: https://secwatch.observer/filing/0001193125-25-323786.json
- Plain text: https://secwatch.observer/filing/0001193125-25-323786.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.