Athira Pharma Acquires Rights for Lasofoxifene Development and Secures $90 Million Financing
Athira Pharma announced that it has entered into an agreement to acquire the rights for the development and commercialization of lasofoxifene, a clinical asset in a potentially registrational Phase 3 trial. The ongoing Phase 3 ELAINE-3 clinical trial is greater than 50% enrolled with data expected in mid-2027. Athira has acquired an exclusive global license from Sermonix Pharmaceuticals, Inc. for rights to develop and commercialize lasofoxifene, a selective estrogen receptor modulator for the potential treatment of metastatic breast cancer. In conjunction with this transaction, Athira also announced an upfront financing of $90 million in private placement financing of common stock and warrants, with the warrants providing, if exercised, up to an additional $146 million to support development of the new program through key clinical and regulatory milestones. The financing was co-led by Commodore Capital, Perceptive Advisors, and TCGX, with participation from ADAR1, Blackstone Multi-Asset Investing, Kalehua Capital, Ligand Pharmaceuticals, New Enterprise Associates, Spruce Street Capital, and 9vc. The Company anticipates the upfront financing will support lasofoxifene development through its topline data readout and key regulatory milestones, with sufficient capital for runway into 2028.
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Athena Gold Invites Investors to Vancouver Resource Investment Conference
- Investor Invitation: Athena Gold Corporation invites existing and prospective investors to visit Booth #212 at the Vancouver Convention Centre from January 25 to 26, 2026, showcasing its potential in the mining investment sector, expected to attract over 5,000 mining investors.
- Conference Highlights: The Vancouver Resource Investment Conference, held for 25 years, will feature 120 expert speakers in 2026, including economists and legendary investors, presenting over 300 investment opportunities in mining, enhancing the company's visibility in the industry.
- Project Overview: Athena Gold's Laird Lake project is located in Ontario's Red Lake Gold District, covering 7,000 hectares, with recent surface sampling results showing up to 373 g/t Au, indicating significant development potential in the area.
- Strategic Positioning: The Excelsior Springs project, situated in Nevada's Walker Lane trend, spans over 2,500 hectares, with Athena Gold entering an earn-in option agreement with Mammoth Minerals Limited, further strengthening its resource development capabilities in the U.S. market.
Athira Pharma Rebrands to LeonaBio, Secures $90 Million Financing
- Company Rebranding: Athira Pharma has rebranded to LeonaBio, reflecting its commitment to developing innovative therapies for metastatic breast cancer, marking the beginning of a strategic transformation.
- Financing Support: The company secured $90 million through a private placement, which is expected to support the development of its new drug lasofoxifene and help achieve key clinical and regulatory milestones by 2028.
- Clinical Trial Progress: The ongoing ELAINE-3 trial for lasofoxifene is over 50% enrolled, with data expected in mid-2027, potentially providing new treatment options for metastatic breast cancer patients.
- Drug Potential: Lasofoxifene is a novel selective estrogen receptor modulator designed to target metastatic breast cancer patients who have developed resistance to endocrine therapy, filling a significant gap in current treatment options and holding substantial market potential.
Weekly Update: CYTK Receives Initial FDA Approval, INSM Concludes Rhinosinusitis Research, XOMA Purchases GBIO
FDA Approvals: Several biotech companies received FDA approvals for new therapies, including GSK's Exdensur for severe asthma, Johnson & Johnson's RYBREVANT FASPRO for non-small cell lung cancer, and Amphastar's Teriparatide Injection for osteoporosis, among others.
Acquisitions: XOMA Royalty and Swedish Orphan Biovitrum AB made significant acquisitions to enhance their portfolios, with XOMA acquiring Generation Bio and SOBI set to acquire Arthrosi Therapeutics for up to $1.5 billion.
Clinical Trial Outcomes: Insmed and Argenx faced setbacks as they discontinued clinical trials due to disappointing results, while other companies like Processa and DBV Technologies reported positive outcomes in their respective trials.
New Drug Developments: Athira secured exclusive rights to the breast cancer drug Lasofoxifene, and Takeda's Zasocitinib met primary endpoints in a Phase 3 study for plaque psoriasis, showcasing ongoing advancements in drug development within the biotech sector.
What’s Behind the Surge in Athira Pharma Stock Following Breast Cancer Asset Purchase?
Stock Performance: Athira Pharma Inc. (NASDAQ: ATHA) saw a significant increase in stock price, rising 74.49% to $7.22, with a trading volume of 57.29 million shares compared to the average of 30.94 thousand.
Acquisition of Lasofoxifene: The company has acquired exclusive global rights (excluding Asia and certain Middle Eastern countries) from Sermonix Pharmaceuticals for the development and commercialization of lasofoxifene, a drug in a Phase 3 trial for metastatic breast cancer.
Financial Arrangements: Athira will issue a pre-funded warrant to Sermonix for approximately 5.5 million shares and may owe up to $100 million based on commercialization milestones, alongside securing $90 million in upfront private placement financing.
Funding and Development Plans: The financing is intended to support the development of lasofoxifene and other clinical assets, with sufficient capital projected to last into 2028, aiming for key clinical and regulatory milestones.
Nasdaq Rises More Than 200 Points as US Inflation Decreases to 2.7%
U.S. Stock Market Performance: U.S. stocks saw gains, with the Nasdaq Composite rising over 200 points, while the Dow and S&P 500 also experienced increases. Consumer discretionary shares rose by 2%, but energy stocks fell by 0.5%.
Inflation and Economic Indicators: U.S. inflation cooled to 2.7% in November, below expectations, boosting investor confidence in the Federal Reserve's easing cycle. Initial jobless claims decreased to 224,000, and the Philadelphia Fed Manufacturing Index fell significantly.
Notable Stock Movements: Athira Pharma's shares surged 84% after a development agreement, while Trump Media & Technology Group and FuelCell Energy also saw significant gains. Conversely, Insmed Inc and Pyxis Oncology experienced sharp declines in their stock prices.
Global Market Trends: European shares rose, with the eurozone's STOXX 600 gaining 0.56%, while Asian markets closed mixed, with Japan's Nikkei falling and China's Shanghai Composite rising slightly.
Dow Rises 400 Points as Accenture Reports Stronger-Than-Expected Earnings
U.S. Stock Market Performance: U.S. stocks rose significantly, with the Dow Jones gaining approximately 400 points, while the NASDAQ and S&P 500 also saw notable increases.
Accenture's Strong Earnings: Accenture reported better-than-expected first-quarter results for 2026, with earnings of $3.94 per share and sales of $18.7 billion, surpassing analyst estimates.
Equities Movement: Athira Pharma's shares surged 88% following an acquisition announcement, while Mega Fortune Co Ltd and Pyxis Oncology saw significant declines of 59% and 54%, respectively.
Economic Indicators: The Philadelphia Fed Manufacturing Index fell sharply, initial jobless claims decreased, and the annual inflation rate dropped to 2.7%, the lowest since July.
Athena Gold Invites Investors to Vancouver Resource Investment Conference
- Investor Invitation: Athena Gold Corporation invites existing and prospective investors to visit Booth #212 at the Vancouver Convention Centre from January 25 to 26, 2026, showcasing its potential in the mining investment sector, expected to attract over 5,000 mining investors.
- Conference Highlights: The Vancouver Resource Investment Conference, held for 25 years, will feature 120 expert speakers in 2026, including economists and legendary investors, presenting over 300 investment opportunities in mining, enhancing the company's visibility in the industry.
- Project Overview: Athena Gold's Laird Lake project is located in Ontario's Red Lake Gold District, covering 7,000 hectares, with recent surface sampling results showing up to 373 g/t Au, indicating significant development potential in the area.
- Strategic Positioning: The Excelsior Springs project, situated in Nevada's Walker Lane trend, spans over 2,500 hectares, with Athena Gold entering an earn-in option agreement with Mammoth Minerals Limited, further strengthening its resource development capabilities in the U.S. market.
Athira Pharma Rebrands to LeonaBio, Secures $90 Million Financing
- Company Rebranding: Athira Pharma has rebranded to LeonaBio, reflecting its commitment to developing innovative therapies for metastatic breast cancer, marking the beginning of a strategic transformation.
- Financing Support: The company secured $90 million through a private placement, which is expected to support the development of its new drug lasofoxifene and help achieve key clinical and regulatory milestones by 2028.
- Clinical Trial Progress: The ongoing ELAINE-3 trial for lasofoxifene is over 50% enrolled, with data expected in mid-2027, potentially providing new treatment options for metastatic breast cancer patients.
- Drug Potential: Lasofoxifene is a novel selective estrogen receptor modulator designed to target metastatic breast cancer patients who have developed resistance to endocrine therapy, filling a significant gap in current treatment options and holding substantial market potential.
Weekly Update: CYTK Receives Initial FDA Approval, INSM Concludes Rhinosinusitis Research, XOMA Purchases GBIO
FDA Approvals: Several biotech companies received FDA approvals for new therapies, including GSK's Exdensur for severe asthma, Johnson & Johnson's RYBREVANT FASPRO for non-small cell lung cancer, and Amphastar's Teriparatide Injection for osteoporosis, among others.
Acquisitions: XOMA Royalty and Swedish Orphan Biovitrum AB made significant acquisitions to enhance their portfolios, with XOMA acquiring Generation Bio and SOBI set to acquire Arthrosi Therapeutics for up to $1.5 billion.
Clinical Trial Outcomes: Insmed and Argenx faced setbacks as they discontinued clinical trials due to disappointing results, while other companies like Processa and DBV Technologies reported positive outcomes in their respective trials.
New Drug Developments: Athira secured exclusive rights to the breast cancer drug Lasofoxifene, and Takeda's Zasocitinib met primary endpoints in a Phase 3 study for plaque psoriasis, showcasing ongoing advancements in drug development within the biotech sector.
What’s Behind the Surge in Athira Pharma Stock Following Breast Cancer Asset Purchase?
Stock Performance: Athira Pharma Inc. (NASDAQ: ATHA) saw a significant increase in stock price, rising 74.49% to $7.22, with a trading volume of 57.29 million shares compared to the average of 30.94 thousand.
Acquisition of Lasofoxifene: The company has acquired exclusive global rights (excluding Asia and certain Middle Eastern countries) from Sermonix Pharmaceuticals for the development and commercialization of lasofoxifene, a drug in a Phase 3 trial for metastatic breast cancer.
Financial Arrangements: Athira will issue a pre-funded warrant to Sermonix for approximately 5.5 million shares and may owe up to $100 million based on commercialization milestones, alongside securing $90 million in upfront private placement financing.
Funding and Development Plans: The financing is intended to support the development of lasofoxifene and other clinical assets, with sufficient capital projected to last into 2028, aiming for key clinical and regulatory milestones.
Nasdaq Rises More Than 200 Points as US Inflation Decreases to 2.7%
U.S. Stock Market Performance: U.S. stocks saw gains, with the Nasdaq Composite rising over 200 points, while the Dow and S&P 500 also experienced increases. Consumer discretionary shares rose by 2%, but energy stocks fell by 0.5%.
Inflation and Economic Indicators: U.S. inflation cooled to 2.7% in November, below expectations, boosting investor confidence in the Federal Reserve's easing cycle. Initial jobless claims decreased to 224,000, and the Philadelphia Fed Manufacturing Index fell significantly.
Notable Stock Movements: Athira Pharma's shares surged 84% after a development agreement, while Trump Media & Technology Group and FuelCell Energy also saw significant gains. Conversely, Insmed Inc and Pyxis Oncology experienced sharp declines in their stock prices.
Global Market Trends: European shares rose, with the eurozone's STOXX 600 gaining 0.56%, while Asian markets closed mixed, with Japan's Nikkei falling and China's Shanghai Composite rising slightly.
Dow Rises 400 Points as Accenture Reports Stronger-Than-Expected Earnings
U.S. Stock Market Performance: U.S. stocks rose significantly, with the Dow Jones gaining approximately 400 points, while the NASDAQ and S&P 500 also saw notable increases.
Accenture's Strong Earnings: Accenture reported better-than-expected first-quarter results for 2026, with earnings of $3.94 per share and sales of $18.7 billion, surpassing analyst estimates.
Equities Movement: Athira Pharma's shares surged 88% following an acquisition announcement, while Mega Fortune Co Ltd and Pyxis Oncology saw significant declines of 59% and 54%, respectively.
Economic Indicators: The Philadelphia Fed Manufacturing Index fell sharply, initial jobless claims decreased, and the annual inflation rate dropped to 2.7%, the lowest since July.
