Atyr Pharma (NASDAQ:LIFE) stock is soaring higher on Tuesday after the company released data from a recent clinical trial.
Let’s jump into that news below!
- The positive news comes from a Phase 1b/2a double-blind, placebo-controlled clinical trial.
- This is for ATYR1923, which is its lead candidate to treat patients suffering from pulmonary sarcoidosis, a type of lung disease.
- Atyr Pharma’s current clinical trial only includes 37 patients.
- However, the results are promising. These patients tolerated the drug well.
- Those taking it also saw benefits over the patients in the placebo group.
- That includes key efficacy endpoints and other factors.
- Among these are “steroid reduction, lung function, sarcoidosis symptom measures and inflammatory biomarkers.”
Paul Schimmel, Ph.D., Professor of Molecular Medicine at The Scripps Research Institute and Founder of aTyr Pharma and Pangu, said this about the results pushing LIFE stock up today.
‘We are very pleased to be a part of this groundbreaking work for ATYR1923, which represents the first clinical proof-of-concept for a tRNA synthetase derived therapy. The consistent dose response and clinically meaningful benefit observed across key efficacy endpoints is quite notable.”
Atyr Pharma says that its next move is to meet with the U.S. Food and Drug Administration (FDA). This will allow it to set up additional clinical trials and progress toward registration. It expects a registrational trial will take place next year.
LIFE stock is seeing heavy trading with today’s news. As of this writing, more than 93 million shares of the stock have changed hands. That’s a massive jump from the company’s daily average trading volume of about 1.9 million shares.
LIFE stock is up 11.5% as of Tuesday afternoon.
Here’s what else investors need to know about today!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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