Athira Pharma downgraded to Market Perform from Outperform at JMP Securities

JMP Securities downgraded Athira Pharma to Market Perform from Outperform without a price target. The Phase 2/3 LIFT-AD trial did not meet its primary or key secondary endpoints but it demonstrated numerical trends in favor of fosgonimeton supportive of the candidate’s potential in neurodegenerative diseases, the analyst tells investors in a research note. The firm downgrades the shares, looking for details on next steps for Athira’s next generation candidates.