04:50 PM EDT, 09/03/2024 (MT Newswires) -- Athira Pharma ( ATHA ) said late Tuesday that topline results from its phase 2/3 trial of fosgonimeton in patients with mild-to-moderate Alzheimer's disease failed to reach primary and main secondary endpoints.

Company shares plunged nearly 72% in after-hours activity.

In pre-specified subgroups characterized by more rapid disease progression, the group treated with fosgonimeton showed cognition and function improved or stabilized.

Data across biomarkers of protein pathology, inflammation, and neurodegeneration also showed "directional improvements with fosgonimeton treatment," the company added.

Price: 0.8000, Change: -2.03, Percent Change: -71.73