Analyst Summary:
Biotherapeutics company aTyr Pharma has announced its fourth quarter and full-year 2022 results and its corporate update. The company's largest interventional study in sarcoidosis to date is expected to be the global pivotal Phase 3 randomized, double-blind, placebo-controlled study to test their efzofitimod on patients, which is currently enrolling multiple centers in the US, Europe, and Japan. They are also expanding their clinical development program, planning to initiate a Phase 2 proof-of-concept study of efzofitimod in patients with scleroderma-associated ILD, expected to start by the end of 2023. Kyorin Pharmaceutical Co. Ltd awarded a milestone payment of $10 million to aTyr for its contribution. Management noted it had sufficient cash to fund two efzofitimod clinical programs and the company's operations until 2026 following a recent public offering.