aTyr Pharma downgraded to Neutral from Overweight at Cantor Fitzgerald

Cantor Fitzgerald downgraded aTyr Pharma (ATYR) to Neutral from Overweight after the company announced that the Phase 3 pulmonary sarcoidosis trial for efzofitimod missed the primary endpoint of change in mean steroid dose from baseline at week 48. aTyr plans to engage with the FDA to determine the path forward, but the firm doesn’t have much confidence in the path forward for efzo in pulmonary sarcoidosis, the analyst tells investors.