Overview
- Athira licensed lasofoxifene from Sermonix and obtained a parallel manufacturing license from Ligand.
- The ELAINE-3 Phase 3 trial for ESR1-mutant metastatic breast cancer is more than halfway enrolled with data anticipated in mid-2027.
- A private placement led by Commodore Capital, Perceptive Advisors and TCGX totals $90 million, with additional Series A and B warrants that could provide up to $146 million if exercised.
- The private placement is expected to close around December 23 subject to customary conditions, and the company guides that proceeds extend its cash runway into 2028.
- Deal terms include up to $100 million in milestones plus low single-digit royalties to Sermonix and up to $21 million per product plus mid-single to low-double digit royalties to Ligand.