Why Is Athira Pharma Stock (ATHA) Up Today?
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Athira Pharma (ATHA) stock surged 63.97% in pre-market trading after announcing an agreement to acquire global rights (excluding certain Asian countries) for lasofoxifene, a potential metastatic breast cancer treatment, from Sermonix Pharmaceuticals. The deal includes a pre-funded warrant for 5.5 million ATHA shares and up to $100 million in milestone payments. Athira also announced a $90 million private placement, potentially raising an additional $146 million if warrants are exercised. Despite recent gains, ATHA stock is down 29.56% year-to-date.
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