Athira Pharma (ATHA) investor relations material

Executive summary

• Focus shifted to ATH-1105 for ALS after pausing fosgonimeton development due to unsuccessful LIFT-AD trial results; strategic alternatives including partnerships or transactions are being explored.

• Phase 1 trial for ATH-1105 completed in November 2024, showing favorable safety, tolerability, and pharmacokinetics in healthy volunteers; positive data presented in May 2025.

• Company is actively reviewing options to maximize stockholder value, with Cantor Fitzgerald & Co. as advisor.

Financial highlights

• Net loss for Q2 2025 was $7.0 million ($0.18 per share), a 74% improvement from $26.9 million ($0.70 per share) in Q2 2024.

• Net loss for the six months ended June 30, 2025 was $16.1 million, down from $53.2 million for the same period in 2024.

• Cash, cash equivalents, and investments totaled $29.8 million as of June 30, 2025, down from $51.3 million at year-end 2024.

• Operating expenses for Q2 2025 were $7.3 million, down 74% year-over-year, driven by reduced R&D and G&A costs.

• Net cash used in operations was $21.7 million for the first half of 2025, compared to $48.1 million in the prior year period.

Outlook and guidance

• Existing cash and investments are expected to fund operations and capital expenditures through at least the next 12 months.

• Additional capital will be required to advance ATH-1105 and other programs; options include equity, debt, or strategic transactions.

• Plans to initiate a clinical trial of ATH-1105 in ALS patients, either independently or with a partner, pending strategic review.

• Research and development and G&A expenses are expected to remain lower in the near term due to restructuring and program focus shift.