SCHEDULE: Acorn Bioventures Boosts Athira Pharma Stake to 6.2%

Acorn Bioventures and its affiliates, including Anders Hove, have reported a combined beneficial ownership of 6.2% in Athira Pharma, Inc. common stock.

Summary

• Acorn Bioventures, L.P., Acorn Capital Advisors GP, LLC, Acorn Bioventures 2, L.P., Acorn Capital Advisors GP 2, LLC, and Anders Hove collectively reported beneficial ownership of Athira Pharma, Inc. common stock.
• Anders Hove, as the manager of the general partners, is deemed to beneficially own 596,068 shares, representing 6.2% of the class.
• Acorn Bioventures, L.P. and its general partner, Acorn Capital Advisors GP, LLC, beneficially own 250,348 shares, or 2.6% of the class.
• Acorn Bioventures 2, L.P. and its general partner, Acorn Capital Advisors GP 2, LLC, beneficially own 345,720 shares, or 3.6% of the class.
• The percentages are calculated based on 9,604,313 shares of Common Stock outstanding as of November 18, 2025.
• The securities were not acquired for the purpose of changing or influencing control of Athira Pharma, Inc., other than activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 6

Explanation: The filing reports an increase in beneficial ownership by an investment group, which can be interpreted as a vote of confidence in the company's prospects. While a 13G is a factual report, a significant stake by an institutional investor is generally viewed as a moderately positive signal for the issuer's stock.

Positives

• Increased beneficial ownership by an investment group may signal confidence in Athira Pharma's future prospects.
• The filing indicates a passive investment strategy, not aimed at control, which can be viewed positively by current management.

Negatives

• No specific negative information is contained within this beneficial ownership report.

Risks

• No specific risks related to Athira Pharma's operations or financial health are disclosed in this beneficial ownership report.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The increased stake by Acorn Bioventures and its affiliates, particularly Anders Hove's 6.2% ownership, may be perceived as a positive signal, potentially boosting investor confidence.
• Management: The filing indicates a passive investment, not aimed at control, which suggests the investment group is not seeking to disrupt current management or strategy, though the mention of Rule 14a-11 nomination activities suggests a potential for future engagement.

Key Dates

Recommendation

This Schedule 13G filing primarily reports a change in beneficial ownership by an investment group, indicating a passive investment stake of 6.2% in Athira Pharma. While an increased stake by an institutional investor like Acorn Bioventures can be seen as a vote of confidence, the filing itself does not provide sufficient operational or financial data to warrant a 'buy' or 'sell' recommendation. The stated purpose of the acquisition is not to influence control, suggesting a long-term passive investment, which typically supports a 'hold' stance for existing investors awaiting further fundamental developments. New investors would need to conduct further due diligence beyond this ownership disclosure.

Keywords

Athira Pharma, Acorn Bioventures, Anders Hove, Beneficial Ownership, Schedule 13G, Common Stock, Biotechnology, Investment, Passive Investment