Athira Pharma Inc
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The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors concerning the Company’s drug candidate ATH-1017. On June 17, 2021, after the market close, the Company reported that it had placed its CEO, Leen Kawas, on temporary leave. Citing “a review of actions stemming from doctoral research” that Kawas conducted while at Washington State University. Bloomberg News reports that while the scientific hypothesis behind Athira came out of the work Kawas did in graduate school, there is risk that whatever comes out of this investigation could have clear negative implications for how investors view the asset, and/or management credibility.
On this news, Franklin’s share price fell sharply during intraday trading on April 18, 2021.