JMP Securities lowered the firm’s price target on Athira Pharma to $19 from $20 and keeps an Outperform rating on the shares. The end-of-Phase 2 meeting with the FDA reaffirmed the trial design of LIFT-AD and path to approval for fosgonimeton, the analyst tells investors in a research note. While the company disclosed enrollment delays that shift LIFT-AD results from early 2024 into 2H24, the firm’s confidence in management’s execution and the potential for fosgonimeton success remains unchanged.
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