Why Is aTyr Stock Falling Today?

The company announced that it plans to engage with the U.S. Food and Drug Administration (FDA) to review the results and determine the path forward for Efzofitimod in the treatment of pulmonary sarcoidosis.

Shares of aTyr Pharma, Inc. (ATYR) plummeted 79% in Monday’s pre-market after the company announced that its late-stage study of Efzofitimod in 268 patients with pulmonary sarcoidosis did not meet the primary goal of steroid dose reduction from baseline at week 48.

However, clinical benefit for Efzofitimod was observed across multiple study parameters, the company said. aTyr Pharma announced that it plans to engage with the U.S. Food and Drug Administration (FDA) to review the results and determine the path forward for Efzofitimod in the treatment of pulmonary sarcoidosis.

Pulmonary sarcoidosis is an inflammatory disease characterized by the formation of clumps of inflammatory cells in one or more organs of the body. According to the company, about 200,000 Americans live with the condition. 

Get updates to this developing story <directly on Stocktwits.<