aTyr plunges as lung disease drug misses main goal in late-stage study

Shares of drug developer aTyr Pharma ATYR.O fall 81.8% to record low of $1.09

Co says its drug efzofitimod did not meet the main goal in a late-stage study in patients with pulmonary sarcoidosis

*The trial aimed to show a bigger cut in daily steroid use after 48 weeks versus a placebo

Patients on the higher dose of the drug reduced use of steroids to an average of 2.79 mg/kg a day, compared with 3.52 mg/kg on placebo, a difference that was not statistically significant

Pulmonary sarcoidosis is an inflammatory condition affecting the lungs and lymph nodes

ATYR says it plans to engage with the U.S. FDA to determine the path forward for the drug

*"Ultimately, while the primary endpoint was missed, we do not believe the door is shut for efzofitimod in pulmonary sarcoidosis with a potential "green-light" for filing after regulator engagement"- Piper Sandler

Including session moves, stock down 71.6% YTD