--- title: "Athira Pharma (now LeonaBio) wins Nasdaq Capital Market move and 180 more days" url: "https://aibio.space/news/athira-pharma-now-leonabio-wins-nasdaq-capital-market-move-180-more/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-04-16" section: "Listings" tickers: "NASDAQ:LONA" source: "https://www.sec.gov/Archives/edgar/data/1620463/000095017025054707/atha-20250415.htm" summary: "The transfer takes effect April 17, 2025. Athira, now LeonaBio, has until October 13, 2025 to lift its stock to $1.00 and is seeking approval for a reverse" --- By the aibio.space news desk. Sources - [LeonaBio, Inc. 8-K (2025-04-16)](https://www.sec.gov/Archives/edgar/data/1620463/000095017025054707/atha-20250415.htm) [LONA](https://aibio.space/companies/leonabio/) 2025-04-16 # Athira Pharma (now LeonaBio) wins Nasdaq Capital Market move and 180 more days Tickers [LONA](https://aibio.space/companies/leonabio/) The transfer takes effect April 17, 2025. Athira, now LeonaBio, has until October 13, 2025 to lift its stock to $1.00 and is seeking approval for a reverse split. ## Key facts - **Company**: LeonaBio, Inc. (NASDAQ: LONA) - **News type**: Listings - **Primary source**: [LeonaBio, Inc. 8-K (2025-04-16)](https://www.sec.gov/Archives/edgar/data/1620463/000095017025054707/atha-20250415.htm) *A columned courthouse. Photo: Carol M Highsmith, CC0, via rawpixel. The picture shows the field, not the companies named.* Athira Pharma, Inc., now LeonaBio, Inc., received approval from Nasdaq on April 15, 2025 to move its common stock from the Nasdaq Global Select Market to the Nasdaq Capital Market. The company reported the approval in a Form 8-K filed April 16, 2025. The move gives it an extra 180 days to fix a bid price deficiency. The transfer takes effect at the opening of business on April 17, 2025, and the shares will keep trading under the symbol ATHA. ### The bid price problem and the new deadline Nasdaq notified Athira on October 16, 2024 that its closing bid price had been below $1.00 for 30 consecutive business days, which breaches Nasdaq Listing Rule 5450(a)(1). The initial compliance period under Rule 5810(c)(3)(A) ran to April 14, 2025. On April 4, 2025, Athira applied to transfer to the Capital Market, which offers a further 180-day compliance period. That period now ends October 13, 2025. To regain compliance, the bid price must be at least $1.00 for at least ten consecutive business days during that grace period. The company says it is seeking stockholder approval for a reverse stock split at its 2025 annual meeting. If it does not regain compliance in time, the stock would be subject to delisting. The 8-K says the Capital Market operates in substantially the same way as the Global Select Market, and that listed companies must still meet its continued listing standards. ### The lead program and its history Athira's lead candidate is ATH-1105, an orally available, brain-penetrant small molecule designed to modulate the neurotrophic HGF system. The company says it is in development for ALS, Alzheimer's disease and Parkinson's disease, but only the ALS program is in clinical development. The first-in-human Phase 1 trial enrolled 80 healthy volunteers in a double-blind, placebo-controlled study, and the company says it was completed in November 2024 with a favorable safety profile. Healthy volunteers cannot show whether a drug works in people with ALS, so that trial does not address efficacy. The efficacy case so far comes from mouse models. The 10-K business section says ATH-1105 improved motor function and prolonged survival in a preclinical mouse model of ALS. Those results were presented at Motor Neurone Disease Association symposia in 2022 and 2023 and published in Frontiers in Neuroscience in 2024. Preclinical mouse results do not establish that the drug works in patients. The company's earlier lead, fosgonimeton, missed its main goals. In September 2024 Athira announced topline results from LIFT-AD, a 26-week, double-blind, placebo-controlled Phase 2/3 trial in mild-to-moderate Alzheimer's disease. The primary and key secondary endpoints did not reach statistical significance against placebo. Athira then paused development of fosgonimeton and shifted its focus to ATH-1105. The 10-K also says Athira is actively reviewing partnership options for its drug candidates. ### What the filing does not say The 8-K contains no cash, revenue or loss figures, so it does not say how long Athira can fund itself through the reverse split vote and the October deadline. Nasdaq's decision on the transfer does not change the trial record. The company has one clinical-stage program, a prior Alzheimer's trial that missed its main endpoints, and a bid price that stayed below the threshold long enough to trigger a notice. The stock has until October 13, 2025 to regain compliance. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story LONA LeonaBio, Inc. NASDAQ ยท United States Open the starter desk ## More in Listings Listings ### [Propanc Biopharma faces Nasdaq delisting on bid price, plans to appeal](https://aibio.space/news/propanc-biopharma-faces-nasdaq-delisting-bid-price-plans-appeal/) Oct 29, 2026 Listings ### [Reviva asks stockholders to approve reverse split of up to 1-for-100](https://aibio.space/news/reviva-asks-stockholders-approve-reverse-split-up-1-100/) Oct 29, 2026 Listings ### [Nasdaq to delist Glucotrack shares after bid price exception ends](https://aibio.space/news/nasdaq-delist-glucotrack-shares-after-bid-price-exception-ends/) Oct 28, 2026 --- Source page: https://aibio.space/news/athira-pharma-now-leonabio-wins-nasdaq-capital-market-move-180-more/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Athira Pharma (now LeonaBio) wins Nasdaq Capital Market move and 180 more days", 2025-04-16, https://aibio.space/news/athira-pharma-now-leonabio-wins-nasdaq-capital-market-move-180-more/