Business
aTyr Pharma Announces Fourth Quarter and Full Year 2019 Results and Provides Corporate Update
Company to host conference call and webcast today at 5:00 p.m. EDT / 2:00 p.m. PDT SAN DIEGO, March 26, 2020 (GLOBE NEWSWIRE) -- aTyr Pharma, Inc. (Nasdaq:
About this update from Atyr Pharma, Inc.
[{"type":"text","content":"Company to host conference call and webcast today at 5:00 p.m. EDT / 2:00 p.m. PDT\n SAN DIEGO, March 26, 2020 (GLOBE NEWSWIRE) -- aTyr Pharma, Inc. (Nasdaq: LIFE), a biotherapeutics company engaged in the discovery and development of innovative medicines based on novel immunological pathways, today announced fourth quarter and full year 2019 results and provided a corporate update. “2019 was a productive year for aTyr and we achieved some key milestones, including the announcement of interim safety data results for our ongoing ATYR1923 Phase 1b/2a clinical trial for patients with pulmonary sarcoidosis. We also recently entered into a licensing collaboration with Kyorin Pharmaceutical Co., Ltd. (Kyorin) and received an $8.0 million upfront payment. Including our efforts related to neuropilin-2 (NRP2) receptor biology, we believe these milestones represent significant advancements of our pipeline” said Dr. Sanjay S. Shukla, M.D., M.S., president and chief executive officer of aTyr. “As the COVID-19 pandemic continues to impact daily life, we remain committed to the safety of our employees as well as our physician partners and the patients who are participating in our ATYR1923 Phase 1b/2a clinical study. This global public health crisis has been challenging for clinical trial conduct worldwide, and we now anticipate there will be a delay in topline results from our study, which were previously anticipated in the third quarter of this year. We are working closely with our investigators to implement procedures which will allow for rapid completion of this study when the demand on the health system eases.” “Importantly, the successful licensing deal and public offering that we completed in 2020, together with cash on hand, provide critical resources that we believe will comfortably allow us to reach significant and potentially value creating milestones. We remain committed to completion of our Phase 1b/2a study as expeditiously as possible as we work to introduce an entirely new class of therapeutics to treat unmet needs in interstitial lung diseases (ILDs).” 2019 and Subsequent Period Highlights and Upcoming Milestones Announced the results of a pre-planned, blinded interim analysis of safety and tolerability, the primary endpoint of its ongoing Phase 1b/2a clinical trial of its lead therapeutic candidate, ATYR1923, in patients with...