Goldman Sachs moves Athira Pharma to Not Rated

Goldman Sachs has moved the firm’s rating on Athira Pharma to “Not Rated” while also removing its price target after the company reported that the Phase 2/3 LIFT-AD study of fosgonimeton, fosgo, in mild-to-moderate Alzheimer’s disease did not meet its primary endpoint of the global statistical test or key secondary endpoints of cognition and function. On the back of these data, the company plans to evaluate possible options for fosgo, but pending the additional near-term guidance on the future of the drug, investor focus could shift towards the company’s secondary pipeline asset, ATH-1105, in ALS, the analyst tells investors in a research note.