Mission Statement, Vision, & Core Values (2024) of Athira Pharma, Inc. (ATHA)

An Overview of Athira Pharma, Inc. (ATHA)

General Overview of Athira Pharma, Inc. (ATHA)

Athira Pharma, Inc. was incorporated as M3 Biotechnology, Inc. in Washington on March 31, 2011, and later reincorporated in Delaware on October 27, 2015. In April 2019, the company rebranded to Athira Pharma, Inc. The company operates from its headquarters in Bothell, Washington, focusing on developing small molecules aimed at restoring neuronal health and slowing neurodegeneration. As of 2024, Athira is advancing its primary product candidates, particularly ATH-1017, which is designed to treat neurodegenerative diseases. The company is still in the clinical-stage, with no established commercial product sales to date.

Company's Financial Performance

For the nine months ended September 30, 2024, Athira reported a net loss of $81.9 million, a decrease from a net loss of $90.4 million for the same period in 2023. Total operating expenses were $85.3 million, down from $96.5 million year-over-year. Research and development expenses decreased to $61.3 million from $70.1 million, primarily due to reductions in costs associated with the fosgonimeton program. The company's cash, cash equivalents, and investments stood at $68.9 million as of September 30, 2024. The following table summarizes key financial metrics:

Introduction to Athira Pharma as an Industry Leader

Athira Pharma is recognized as a clinical-stage leader in the biopharmaceutical industry, focusing on innovative treatments for neurodegenerative diseases. The company is strategically positioned within a growing market for neurological therapies, driven by increasing prevalence and demand for effective treatment options. Athira's commitment to advancing its clinical candidates, particularly ATH-1105, marks its potential to significantly impact the field of neurodegeneration. With a strong pipeline and focused research efforts, Athira Pharma remains a company to watch in the evolving landscape of biopharmaceuticals.

Mission Statement of Athira Pharma, Inc. (ATHA)

Mission Statement of Athira Pharma, Inc. (ATHA)

Athira Pharma, Inc. is dedicated to developing innovative treatments aimed at restoring neuronal health and mitigating neurodegeneration. The company’s mission statement is a guiding principle that reflects its commitment to advancing science and improving patient outcomes through the development of small molecule therapeutics. This mission is essential for aligning the company’s strategic objectives with its core values, driving its long-term goals, and ensuring that all stakeholders are focused on achieving shared outcomes.

Core Component 1: Innovation

At the heart of Athira's mission is a strong emphasis on innovation. The company focuses on pioneering novel therapeutic approaches for neurodegenerative diseases, leveraging cutting-edge research to develop treatments that address unmet medical needs. For instance, Athira’s lead candidate, ATH-1105, is positioned as a potential treatment for amyotrophic lateral sclerosis (ALS) and is currently in clinical trials. The commitment to innovation is underscored by significant investments in research and development, with research and development expenses amounting to $61.3 million for the nine months ended September 30, 2024, down from $70.1 million for the same period in 2023.

Core Component 2: Patient-Centric Focus

Athira’s mission also reflects a patient-centric focus, prioritizing the health and well-being of individuals affected by neurodegenerative disorders. This commitment is evident in the company’s ongoing clinical trials and its dedication to understanding the needs of patients and their families. Athira aims to provide effective and safe therapies that can enhance the quality of life for patients. The company reported a net loss of $81.9 million for the nine months ended September 30, 2024, indicating the financial commitment it is willing to make in pursuit of developing impactful therapies.

Core Component 3: Collaboration and Partnerships

Collaboration is a crucial aspect of Athira's mission. The company actively seeks partnerships with academic institutions, research organizations, and other biopharmaceutical companies to enhance its research capabilities and expedite the development of its drug candidates. For example, Athira has an exclusive license agreement with Washington State University (WSU) that allows it to leverage patented technologies critical to its development pipeline. This strategic collaboration reflects Athira’s understanding that partnerships are vital for innovation and success in the highly competitive biopharmaceutical landscape. As of September 30, 2024, Athira has raised aggregate net cash proceeds of approximately $407.4 million, primarily through equity financing, to support such collaborative efforts.

These financial metrics illustrate Athira’s strategic focus on reducing operating expenses while continuing to invest in research and development, thereby reinforcing its mission statement’s core components of innovation, patient-centric focus, and collaboration.

Vision Statement of Athira Pharma, Inc. (ATHA)

Vision Statement Overview

Athira Pharma, Inc. (ATHA) aims to restore neuronal health and slow neurodegeneration through innovative drug development, focusing on small molecules designed to enhance neurotrophic factors. As of 2024, the company's vision is to be a leader in the biopharmaceutical industry, specifically in the treatment of neurodegenerative diseases, while ensuring the highest standards of integrity and innovation in all its business practices.

Commitment to Innovation

The cornerstone of Athira Pharma's vision is its commitment to innovation in drug development. The company is currently advancing several drug candidates, including ATH-1105, which is undergoing Phase 1 clinical trials. This focus on innovative solutions is reflected in the significant investments made in research and development, which totaled approximately $61.3 million for the nine months ended September 30, 2024.

Focus on Neurodegenerative Disorders

Athira Pharma's vision encompasses a strong focus on treating central and peripheral nervous system disorders. The company recognizes the urgent need for effective treatments in this area, which has historically seen limited success. As of September 30, 2024, Athira has incurred significant operating losses, amounting to $81.9 million, while striving to bring its drug candidates to market.

Ethics and Integrity

Integrity is a vital part of Athira's vision. The company is dedicated to conducting its business ethically and transparently. This commitment is underscored by their proactive approach to addressing legal challenges. For instance, Athira recorded a legal expense of $4.1 million in connection with ongoing investigations. Such actions demonstrate the company’s commitment to uphold ethical standards while navigating complex regulatory environments.

Long-term Sustainability

Looking towards the future, Athira Pharma is dedicated to ensuring long-term sustainability in its operations. As of September 30, 2024, the company had cash, cash equivalents, and investments totaling $68.9 million. This financial positioning is critical as it allows Athira to continue funding its drug development programs while exploring potential strategic partnerships and collaborations to enhance its market position.

Collaboration and Partnerships

Athira Pharma's vision also includes fostering collaborations with other pharmaceutical companies and research institutions. This strategic approach is intended to enhance its capabilities in drug development and commercialization. Although the company currently has not established a commercial organization, it plans to build one as it advances its drug candidates. The ability to leverage partnerships is crucial for Athira to achieve its vision of being a leader in the biopharmaceutical sector.

Core Values of Athira Pharma, Inc. (ATHA)

Integrity

Integrity is a core value at Athira Pharma, Inc. (ATHA), underpinning its commitment to ethical practices in all operations. This value is vital for fostering trust among employees, investors, and partners.

In 2024, Athira has demonstrated its integrity through transparent communication regarding its clinical trials and financial disclosures. For instance, the company reported a net loss of $81.9 million for the nine months ended September 30, 2024, and an accumulated deficit of $391.1 million. Such disclosures reflect a commitment to honesty and accountability in their financial reporting.

Innovation

Innovation is at the heart of Athira's mission to develop groundbreaking therapeutics for neurodegenerative diseases. The company is focused on advancing its lead drug candidate, ATH-1105, which is currently in clinical development for the treatment of Amyotrophic Lateral Sclerosis (ALS).

In 2024, Athira has invested significantly in research and development, with operating expenses reaching $61.3 million for the nine months ending September 30, 2024. This investment underscores the company's dedication to innovating solutions that can restore neuronal health.

Collaboration

Collaboration is essential for Athira to enhance its capabilities and expand its research efforts. The company actively seeks partnerships to leverage external expertise and resources.

In 2024, Athira has entered into strategic collaborations aimed at maximizing stockholder value and advancing its clinical programs. The company has raised approximately $407.4 million since its inception through equity financing, which includes collaborations. This collaborative approach is crucial for reducing risks and accelerating the development of its drug candidates.

Excellence

Athira is committed to excellence in its scientific research, clinical trials, and operational practices. This value drives the company to achieve high standards in all its endeavors.

In 2024, Athira's focus on excellence is evident in its clinical trial management processes, which adhere to stringent regulatory requirements. The company has dedicated substantial resources to ensure that its research and development activities are conducted efficiently, as reflected in the $17.9 million allocated to research and development in Q3 of 2024.

Accountability

Accountability is a key value that Athira Pharma emphasizes across its organization. The company holds itself responsible for the impact of its actions on stakeholders and the broader community.

As of September 30, 2024, Athira reported a cash position of $68.9 million, indicating prudent financial management and accountability to its investors. Furthermore, the company has actively communicated its challenges and strategic decisions, such as the pause in the development of fosgonimeton, to ensure transparency with stakeholders.

Updated on 16 Nov 2024

Resources:

1. Athira Pharma, Inc. (ATHA) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Athira Pharma, Inc. (ATHA)' financial performance, including balance sheets, income statements, and cash flow statements.
2. SEC Filings – View Athira Pharma, Inc. (ATHA)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.