Bil­lion­aire Athi­ra backer Ric Kayne sus­pends ac­tivist cam­paign — but share­hold­ers can still vote for him

Fol­low­ing the ouster of Leen Kawas at the Alzheimer’s-fo­cused biotech Athi­ra, a mi­nor­i­ty stake­hold­er with ties to the for­mer founder launched an ac­tivist at­tack to re­place her suc­ces­sor. But on Mon­day, the bil­lion­aire in­vestor de­cid­ed to change course.

Richard “Ric” Kayne sus­pend­ed his cam­paign to elect him­self and an­oth­er con­tender to the com­pa­ny’s board of di­rec­tors ahead of this week’s an­nu­al share­hold­er meet­ing, Kayne an­nounced in a let­ter Mon­day morn­ing. Though Kayne will no longer be em­pha­siz­ing the need for change, Athi­ra share­hold­ers are still al­lowed to vote for his slate of nom­i­na­tions.

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