Business
aTyr Pharma Announces Pricing of Public Offering of Common Stock
SAN DIEGO, Feb. 09, 2023 (GLOBE NEWSWIRE) -- aTyr Pharma, Inc. (Nasdaq: LIFE), a biotherapeutics company engaged in the discovery and development of
About this update from Atyr Pharma, Inc.
[{"type":"text","content":"SAN DIEGO, Feb. 09, 2023 (GLOBE NEWSWIRE) -- aTyr Pharma, Inc. (Nasdaq: LIFE), a biotherapeutics company engaged in the discovery and development of first-in-class medicines from its proprietary tRNA synthetase platform, today announced the pricing of its previously announced underwritten public offering of 22,225,000 shares of its common stock at a public offering price of $2.25 per share. The gross proceeds to aTyr from the offering, before deducting the underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $50.0 million. In addition, aTyr has granted the underwriters a 30-day option to purchase up to an additional 3,333,750 shares of its common stock at the public offering price per share, less underwriting discounts and commissions. All of the shares being sold in the offering are being sold by aTyr. The offering is expected to close on or about February 13, 2023, subject to customary closing conditions. RBC Capital Markets is acting as sole book-running manager for the offering. H.C. Wainwright & Co. is acting as lead manager for the offering. aTyr intends to use the net proceeds from the offering primarily for general corporate purposes, including the ongoing development of efzofitimod and the expansion of its clinical development program to include a planned Phase 2 study of efzofitimod in patients with systemic sclerosis (SSc, or scleroderma)-associated interstitial lung disease (SSc-ILD), in 2023, based on recent clearance of an Investigational New Drug (IND) application by the U.S. Food and Drug Administration, and for working capital. The offering is being made pursuant to a shelf registration statement on Form S-3, including a base prospectus, filed by aTyr that was declared effective by the Securities and Exchange Commission (\"SEC\") on April 8, 2022. The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available for free on the website of the SEC at www.sec.gov. An electronic copy of the final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the website of the SEC at www.sec.gov. Copi...