Slide 1: Maximizing Long-Term Value for All Shareholders
Maximizing Long-Term Value for All Shareholders April 2022 A D VA N C I N G N E W TH E R A P I E S FOR N E U R ON A L H E A LTH
Slide 2: Disclaimer
Disclaimer This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not based on historica
Slide 3: Table of Contents
Table of Contents Executive Summary 4 An Introduction to Athira 6 Achieving Target Milestones and Executing with Strength for the Future 16 Highly Qualified Board with Experience Athira Needs for Pivotal Chapter 27 Kayne’s Campaign Not in the Best Interest of All Shareholders 32 © Athira Pharma, Inc
Slide 4: Executive Summary
Executive Summary
Slide 5: Executive Summary
Executive Summary • Poised to report topline results from Phase 2 ACT-AD study by end of 2Q22 Successfully executing • Expect to complete enrollment for expanded LIFT-AD Phase 3 study by 3Q22, with larger sample size enhancing potential for single pivotal clinical study strategic drug development •
Slide 6: An Introduction to Athira
An Introduction to Athira
Slide 7: Our Mission
OUR MISSION To restore lives by advancing bold therapies for neuronal health, thoughtfully and urgently
Slide 8: Company Overview
Company Overview • We are a late clinical-stage biopharmaceutical company developing small molecules to advance new therapies for a broad range of neurological diseases with significant unmet need Expected Key • We have a deep understanding of the multifactorial and complex pathologies associated wi
Slide 9: Athira Has Significantly Outperformed the Biotech Index and Neurodegeneration Peers
Athira Has Significantly Outperformed the Biotech Index and Neurodegeneration Peers Since Dr. Litton Was Appointed CEO Since IPO Last One-Year Since Dr. Litton Appointed CEO 160% 100% 80% 140% 80% 60% 120% 60% 100% 40% 32.3% 80% 40% 20% 60% 20% 40% 0% 20% 0% 11.0% 0% (20%) (20%) (27.1%) (27.6%) (22.
Slide 10: Investment Highlights
Investment Highlights Late-stage program fosgonimeton (ATH-1017) designed to Our novel small enhance Hepatocyte Growth Factor (HGF) and its receptor, molecule compounds are MET designed to act on a • Well established HGF/MET pathway is critical to normal brain function and is compromised naturally o
Slide 11: Therapeutic Potential Across a Broad Range of Clinical Applications
Therapeutic Potential Across a Broad Range of Clinical Applications P RE CL INICAL CL INICA L Discovery and Status and Anticipated Program Indication Phase 1 Phase 2 Phase 3 Development Upcoming Milestones Open-Label LIFT-AD enrollment Phase 3 Clinical Trial complete 3Q22; Extension topline data 1H2
Slide 12: Alzheimer's Disease Has Significant Market Potential
Alzheimer’s Disease Has Significant Market Potential 35 million Over 100 million 6.2 million treatment eligible globally by 2050 patients in the US in 2021 based People living with Alzheimer’s dementia today1 ~900,000 new patients on prevalence data diagnosed annually in the US alone1,2 Growing at 3
Slide 13: Additional Large Market Potential in Parkinson's Disease and Lewy Body Dementia
Additional Large Market Potential in Parkinson’s Disease and Lewy Body Dementia Nearly 1 million DLB is the third most $51.9B people in the US and more common cause of dementia than 10 million people accounting for 5-15% of all Economic burden of PD globally are living with overall in the US, as of
Slide 14: Our Novel Approach to Brain Health: Positively Augmenting the HGF/MET System
Our Novel Approach to Brain Health: Positively Augmenting the HGF/MET System MET is one of the most stably expressed genes in the adult human brain Stable MET expression is a signature of the healthy adult brain1 Fosgonimeton positively modulates HGF/MET • Small molecule prodrug that is immediately
Slide 15: Fosgonimeton Has Achieved Early Proof of Concept in Phase 1
Fosgonimeton Has Achieved Early Proof of Concept in Phase 1 N=11 Randomized, Placebo, Fosgonimeton (40 mg) Subcutaneous, Daily, 8 days ERP OBSERVATIONS ERP analysis to-date suggests treatment effects on P300 latency in AD subjects • Gradual decrease in latency over time in the treated group (N=7) •
Slide 16: Achieving Target Milestones and Executing with Strength for the Future
Achieving Target Milestones and Executing with Strength for the Future
Slide 17: Athira is Successfully Progressing its Business
Athira is Successfully Progressing its Business Achieving targeted milestones and well-positioned for the future 1ï’ Executed against the company’s strategic priorities and poised to report topline results from the Phase 2 ACT-AD study by the end of the Effective and second quarter of 2022 Experienc
Slide 18: Competitive Strength: Experienced and Proven Management Team
1 Competitive Strength: Experienced and Proven Management Team Years of C-suite / Exec. Clinical CNS Experience Experience Experience Development Experience Mark Litton • Has been with Athira since joining as COO in 2019 President and CEO • Previously served as President and COO of Alpine Immune Sci
Slide 19: Competitive Strength: Dr. Litton is the Right Leader for Athira
1 Competitive Strength: Dr. Litton is the Right Leader for Athira Lifetime of Experience in Biotechnology > Executive Leadership—Chief Operating Officer of Athira from June 2019 to October 2021. President and Chief Operating Officer of Alpine Immune Sciences from August 2018 to April 2019. Chief Bus
Slide 20: Continued Progression of the Fosgonimeton Phase 2 Trial (ACT-AD)
2 Competitive Strength: Continued Progression of the Fosgonimeton Phase 2 Trial (ACT-AD) PROOF-OF-CONCEPT TRIAL TO HELP BETTER UNDERSTAND NATURE OF NOVEL INTERVENTION POPULATION TRE ENDPOINTS AND TIMELINE ACT-AD: N=77 (recruitment complete) PRIMARY ENDPOINT mild-to-moderate AD dementia subjects 26-w
Slide 21: Key Strategic Decisions to Conduct and Increase Fosgonimeton Phase 3 Trial (LIFT-AD)
2 Competitive Strength: Key Strategic Decisions to Conduct and Increase Fosgonimeton Phase 3 Trial (LIFT-AD) TRIAL MAY PROVIDE PIVOTAL EVIDENCE TO SUPPORT PRODUCT REGISTRATION POPULATION TRE ENDPOINTS AND TIMELINE LIFT-AD: Target N=~420 PRIMARY ENDPOINT mild-to-moderate AD dementia subjects 26-week
Slide 22: Executing on Our Phase 2 Trial in PDD and DLB
2 Competitive Strength: Executing on Our Phase 2 Trial in PDD and DLB PROOF-OF-CONCEPT TRIAL TO UNDERSTAND THE POTENTIAL OF ATH-1017 BEYOND ALZHEIMER’S DISEASE POPULATION TREATMENT DURATION ENDPOINTS AND TIMELINE PRIMARY ENDPOINT N=~75 mild-to-moderate 26-week randomized, • Global Statistical Test (
Slide 23: Executed on Our Pipeline by Initiating a Phase 1 Study for ATH-1020
3 Competitive Strength: Executed on Our Pipeline by Initiating a Phase 1 Study for ATH-1020 PHYSIOLOGICAL CHANGES IN THE BRAIN AFFECT BEHAVIOR AND EMOTION • Preclinical data demonstrate enhancing HGF/MET activity has Our novel approach is anti-depressant and anxiolytic effects1,2 focused on restorin
Slide 24: Achievements and Upcoming Milestones
Achievements and Upcoming Milestones RECENT ACHIEVEMENTS LOOKING AHEAD Enrollment completed for Phase 2 ACT-AD trial in Oct Phase 2 ACT-AD Trial: Topline data expected by 2021 end of 2Q22 Strong enrollment to-date in Phase 3 LIFT-AD trial Phase 3 LIFT-AD Trial: Open label extension trial underway fo
Slide 25: We Are Executing on Our Strategy as Articulated at IPO
We Are Executing on Our Strategy as Articulated at IPO Strategy at IPO Actions / Accomplishments Advance fosgonimeton (ATH-1017) through clinical Phase 2 ACT-AD, Phase 3 LIFT-AD and open-label development for AD extension progressed Expand the development of fosgonimeton to include Phase 2 SHAPE tri
Slide 26: Wall Street Analysts Support Athira's Potential
Wall Street Analysts Support Athira’s Potential Analysts see significant upside in Large Opportunity Evidenced by Selected Commentary Stock Price Peak Sales Opportunity Projected Product Sales (Unadjusted) Proj. Sales “We view ATHA’s approach to treating Alzheimer’s disease as differentiated with th
Slide 27: Highly Qualified Board with Experience Athira Needs for Pivotal Chapter
Highly Qualified Board with Experience Athira Needs for Pivotal Chapter
Slide 28: Effective and Engaged Board Oversight
Effective and Engaged Board Oversight Executing Successfully Positioning for the Future Navigating Hard Against our Strategy Challenges Directors have the right skills and Actively engaged board: Track record of navigating hard experience needed to support • Guides our highest priority – challenges
Slide 29: Distinguished Board with Deep Industry, R&D and Commercialization Expertise
Distinguished Board with Deep Industry, R&D and Commercialization Expertise and Experience Clinical Regulatory Drug Finance and R e l e va n t S k i l l s Development Approval Process Commercialization Financial Planning Independent director appointed since Mar. 2021 & E x p e ri e n c e: Capital Bu
Slide 30: Our Highly Qualified Nominees
Our Highly Qualified Nominees Joseph Edelman John M. Fluke, Jr. Grant Pickering Director Since: May 2020 Director Since: December 2014 Director Since: January 2022 • 20+ years of experience as a highly • 40+ years of executive leadership and • 30+ years of experience across vaccine and respected inv
Slide 31: Setting the Facts Straight – The Leen Kawas Investigation
Setting the Facts Straight – The Leen Kawas Investigation • On June 16, 2021, the board determined to place Leen Kawas on temporary leave pending a review of actions stemming from doctoral research that Dr. Kawas conducted while at Washington State University (WSU). The board established an independ
Slide 32: Kayne's Campaign Not in the Best Interest of All Shareholders
Kayne’s Campaign Not in the Best Interest of All Shareholders
Slide 33: Athira Is Well-Positioned to Continue Executing with Strength; Kayne's Platform Is Misguided
Athira Is Well-Positioned to Continue Executing with Strength; Kayne’s Platform Is Misguided Our Plan Kayne’s “Platform” Progressing Phase 2 ACT-AD clinical trial, Phase 3 LIFT-AD clinical No articulated business or operational platform trial and open-label extension trial ƒ» Gain personal represent
Slide 34: Athira Has Engaged in Good Faith with Kayne
Athira Has Engaged in Good Faith with Kayne; Kayne Has Rejected Our Attempts to Find Common Ground Ongoing Dialogue with • Athira’s directors have had ongoing dialogue with Kayne, including frequent conversations over the last several Kayne months • Athira has been open to shareholder input, includi
Slide 35: Conclusion
Conclusion • Poised to report topline results from Phase 2 ACT-AD study by end of 2Q22 Successfully executing • Expect to complete enrollment for expanded LIFT-AD Phase 3 study by 3Q22, with larger sample size enhancing potential for single pivotal clinical study strategic drug development • Dosed f
Slide 36: Vote FOR ALL of Athira's Director Nominees on the WHITE Proxy Card
Vote “FOR ALL” of Athira’s Extremely Qualified Director Nominees on the WHITE Proxy Card Today