Athira Pharma Inc at Goldman Sachs Healthcare Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Corinne Jenkins - Goldman Sachs - Analyst : And maybe Mark, just to start, could you provide a quick overview of Athira with a focus on what you see as key value drivers over the next, let's call it, 12 to 24 months.

Question: Corinne Jenkins - Goldman Sachs - Analyst : Great. Let's talk a little bit about the decision to pursue Alzheimer's disease and maybe go a little deeper in terms of the role of HGF/MET and something that targets that pathway could play in the indication.

Question: Corinne Jenkins - Goldman Sachs - Analyst : Great. As you think about the design features, you mentioned the blood brain barrier penetrants. Are there anything -- is there anything else that you think about when you think about the features of fosgo that help ensure that it would be effective in Alzheimer's?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Great. So today, you primarily looked the Alzheimer's disease. You mentioned some patients, there are an open-label extension to about two years. Can you just refresh us on the clinical data that you've seen to date?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Great. Let's talk a little bit more about the endpoints. So as there is P300 latency, maybe you can talk a little bit about why you've moved on from that and then perhaps, in a bit of time, in what GST means.

Question: Corinne Jenkins - Goldman Sachs - Analyst : Great. So one of the aspects, and you mentioned this, was that the drug seems to work better and the absence of cholinergic inhibitors. How do you think about the mechanism that leads to that result?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Good. Great. Understood. So maybe expand upon -- you mentioned there's still a study that's ongoing. You made some modifications. Let's just talk a little bit about what those modifications are and what we would expect to see next year?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Okay. And what are the primary endpoints for LIFT? How many patients and how should we think about what success looks like there?

Question: Corinne Jenkins - Goldman Sachs - Analyst : We can go back. So how do you think about like what would be a success scenario?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Yeah, absolutely. So maybe let's talk a little about this FDA meeting. So as you approach regulators, what do you think about as like the wish list of topics, as well as what you're going to come out understanding better?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Great. You mentioned, potentially, next steps. So how do you think about what could come after the results for these three study.

Question: Corinne Jenkins - Goldman Sachs - Analyst : And how would you think about the design of a secondary study, and how many patients do you need? And how long would it take (inaudible)?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Yeah, right. And we don't know everything about the study, but we do know some things around like the open-label extension enrollment, et cetera. So can you just provide us a bit of color on what you're seeing in terms of the trial around like how many patients are enrolling in open-label extension and what have you [heard] on this?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Great.

Question: Corinne Jenkins - Goldman Sachs - Analyst : Helpful, thank you. And then I guess, when you talked about the idea of like [doubling] on background cholinergic, how do you think about that as it relates to the market opportunity?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Great. And I guess, as you think about --

Question: Corinne Jenkins - Goldman Sachs - Analyst : Yeah, please go.

Question: Corinne Jenkins - Goldman Sachs - Analyst : Yeah, that's a great point. Remind us where -- within the treatment paradigm of Alzheimer's disease, is fosgo is the most appropriate? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 14, 2023 / 3:40PM, ATHA.OQ - Athira Pharma Inc at Goldman Sachs Healthcare Conference

Question: Corinne Jenkins - Goldman Sachs - Analyst : Let's zoom out for a second and talk about like the [Altiris] space. There's been a lot of movement over the past couple of years. So when you look at what's going on, I guess, what are the things you're focused on as it relates to the -- let's start with the regulatory space landscape?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Okay. So I guess, as you think about like sequencing or combination therapy, where do you expect fosgo to fit relative to, as you mentioned, these a-beta?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Yeah, understood. We talked a little bit about this earlier. But in terms of like the biomarkers that are at play here, you mentioned NfL, but can you walk us through some of the other biomarkers that you guys are monitoring and what they suggest about the activity of fosgo?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Great, all right. So maybe we'll shift gears from Alzheimer's disease. You have other candidates in the portfolio, so let's just do an overview there.

Question: Corinne Jenkins - Goldman Sachs - Analyst : Right. I think you mentioned a little bit earlier, but in terms of differences and similarities between the two assets, could you just remind us what those are?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Great. As you think about the development pathway in ALS, I guess, what do you anticipate in terms of the next step? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 14, 2023 / 3:40PM, ATHA.OQ - Athira Pharma Inc at Goldman Sachs Healthcare Conference

Question: Corinne Jenkins - Goldman Sachs - Analyst : Understood. As you think about like the landscape in ALS, and I think similarly with the regulatory landscape, what are some of the things you're monitoring?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Okay. Yeah. As you think about running a clinical study here and background therapy, how do you relate the heterogeneous patient population as well as allowance for other drugs and in a study like that?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Yeah. So when should we expect an update from FDA as it relates to that program?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Yeah, great. You had started another study of fosgo in Parkinson's disease. So maybe just walk us through the latest on that program. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 14, 2023 / 3:40PM, ATHA.OQ - Athira Pharma Inc at Goldman Sachs Healthcare Conference

Question: Corinne Jenkins - Goldman Sachs - Analyst : Okay. You're talking about discovery efforts; you talked about clinical development. How do you think about the balance between investing in your existing portfolio in terms of indication expansion versus discovery of new agents?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Yeah, great.

Question: Corinne Jenkins - Goldman Sachs - Analyst : Yeah.

Question: Corinne Jenkins - Goldman Sachs - Analyst : And that brings a question that's on everyone's minds, is in terms of cash runway, so to talk about -- REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 14, 2023 / 3:40PM, ATHA.OQ - Athira Pharma Inc at Goldman Sachs Healthcare Conference

Question: Corinne Jenkins - Goldman Sachs - Analyst : Okay. So through the balance of this year, I guess, what should we expect to hear from Athira?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Okay.

Question: Corinne Jenkins - Goldman Sachs - Analyst : Okay, great. And probably [just last], so that comes early 2024. It sounds like there's a couple of different options. But how do you think about like what the next steps would look like and how the company would run in the case of a positive outcome?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Okay, you mentioned more money. So how do you think about like sources of capital and what you think is appropriate for Athira?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Yeah, understood. In terms of Alzheimer's is a large indication, as you play for it, but say you do have success, is Athira equipped to do the commercialization within Alzheimer's?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Yeah, understood. In our final minutes here, is there anything that you think you want to emphasize and make sure investors understand about the company that you're running?

Question: Corinne Jenkins - Goldman Sachs - Analyst : Yeah, understood. Great. Well, that's all the questions that I have today. Thanks you so much to Mark for joining us here and for everyone who's joining us this year and on the webcast.