Athira Pharma Shares Jump 70% On Phase 3 Asset Acquisition Deal

(RTTNews) - Athira Pharma, Inc. (ATHA) shares surged 69.53 percent, gaining $2.88 to trade at $7.01 on Thursday, after the clinical-stage biopharmaceutical company announced an agreement to acquire global development and commercialization rights to lasofoxifene, a Phase 3 ready asset for metastatic breast cancer. The stock was trading at $7.01, up sharply from a previous close of $4.14 on the Nasdaq. Shares opened at $7.22 and moved within a day's range of $6.77 to $8.35. Trading volume spiked to about 53.19 million shares, far exceeding the average volume of roughly 30,063. Athira Pharma is now trading near the top of its 52-week range of $2.20 to $8.35 as investors reacted positively to the late-stage pipeline expansion.