Seattle biotech Athira Pharma sets terms for IPO, aims to raise up to $170M – GeekWire

Seattle biotech Athira Pharma sets terms for IPO, aims to raise up to $170M – GeekWire

Athira Pharma plans to price its stock at $15 to $17 per share and raise up to $170 million in its initial public offering.

The Seattle biotech filed updated IPO paperwork Monday. It will sell 10 million shares and be valued at $480 million at the midpoint of the proposed stock price range.

Founded in 2011, Athira is in late-stage development for its lead therapeutic candidate called NDX-1017. The drug could halt or reverse the nerve damage that causes Alzheimer’s disease and other illnesses including Parkinson’s and ALS, or Lou Gehrig’s Disease. It uses regenerative technology that rebuilds connections between neurons.

Formerly known as M3 Biotechnology, the company is led by Leen Kawas, a 35-year-old CEO who would be the first woman to guide a company to an initial public offering in Washington state in more than two decades.

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