Atyr Pharma (ATYR) stock took a massive beating on Monday after the biotherapeutics company revealed results from its Phase 3 EFZO-FIT clinical trial. This study focused on efzofitimod as a treatment for patients with pulmonary sarcoidosis, which is a major form of interstitial lung disease.
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The bad news for ATYR investors is that the clinical trial did not meet its primary endpoint. The mean daily oral corticosteroid (OCS) for patients taking 5.0 mg/kg efzofitimod dropped to 2.79 mg from 5 mg. For comparison, patients who were on a placebo during the study saw mean daily OCS decrease to 3.52 mg from 5 mg. This result led to nominal findings for all other data in the study.
Despite the fact that the clinical study didn’t meet its primary endpoint, Atyr Pharma believes efzofitimod showed potential drug activity. As a result, the company has decided to meet with the U.S. Food and Drug Administration (FDA) to review the results and determine the future of the medication.
Atyr Pharma Stock Movement Today
Atyr Pharma stock was down 80.76% on Monday and has fallen 71.41% year-to-date. Despite these drops, the shares are still up 215.71% over the past 12 months. Today’s news resulted in a massive selloff of ATYR stock, with some 58 million shares traded, compared to a three-month daily average of about 4.2 million units.
Is Atyr Pharma Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Atyr Pharma is Strong Buy, based on eight Buy ratings over the past three months. With that comes an average ATYR stock price target of $21.57, representing a potential 1,751.5% upside for the shares. However, these ratings and price targets could change in light of the company’s recent clinical trial results.
