JonesResearch analyst Soumit Roy downgraded aTyr Pharma (ATYR) to Hold from Buy without a price target after the Phase 3 EFZO-FIT trial failed to show a significant reduction in change from baseline in mean daily oral corticosteroid dose at week 48 with efzofitimod in patients with pulmonary sarcoidosis. The firm did not expect 40% of patients in the placebo arm to taper to 0mg of steroid at 48 weeks. Jones doubts the FDA will green light efzofitimod with the current dataset and removed the drug from the stock’s valuation. aTyr shares could pull back further without a clear decision soon on the fate of its programs, the analyst tells investors in a research note.
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Read More on ATYR:
- Hold Rating Issued for aTyr Pharma Amid Uncertainty Over Efzofitimod’s Trial Results and Future
- aTyr Pharma downgraded to Neutral from Buy at H.C. Wainwright
- aTyr Pharma downgraded to Market Perform from Outperform at Leerink
- aTyr Pharma downgraded to Neutral from Overweight at Cantor Fitzgerald
- Why Is Atyr Pharma Stock Down Today?