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
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