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SAN DIEGO - aTyr Pharma, Inc. (NASDAQ:ATYR) reported a narrower-than-expected fourth quarter loss on Wednesday, but shares fell 4.8% in after-hours trading as investors focused on the company’s cash position and upcoming pivotal trial readout.
The clinical-stage biotech company posted a Q4 loss of $0.18 per share, beating analyst estimates for a $0.23 per share loss. aTyr did not report any revenue for the quarter.
aTyr ended 2024 with $75.1 million in cash and investments. The company raised an additional $18.8 million through an at-the-market offering after the quarter ended. Management said this cash position should fund operations for one year beyond the readout of its Phase 3 EFZO-FIT trial in pulmonary sarcoidosis, expected in Q3 2025.
"2024 was an important year for aTyr, as we completed enrollment in our global pivotal Phase 3 EFZO-FIT study, which is the largest interventional study ever to be conducted in pulmonary sarcoidosis," said CEO Sanjay S. Shukla, M.D., M.S.
The EFZO-FIT study is evaluating aTyr’s lead candidate efzofitimod in 268 patients with pulmonary sarcoidosis. Topline data is anticipated in Q3 2025, setting up a potential milestone year for the company.
For the full year 2024, aTyr reported research and development expenses of $54.4 million and general and administrative expenses of $13.8 million.
The stock’s decline suggests investors remain cautious ahead of the crucial trial readout later this year, which will determine efzofitimod’s potential as a new treatment option for pulmonary sarcoidosis patients.
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