Shares of aTyr Pharma, Inc. (NASDAQ:LIFE) Plunge on Clinical Update

Pharmaceutical company, aTyr Pharma, Inc. (NASDAQ:LIFE), experienced a sharp decline following the company’s results of exploratory trials.

aTyr Pharma Inc. (LIFE) saw its shares drop early on Tuesday after the company announced clinical results from its exploratory trials assessing the safety and potential activity of Resolaris. Ultimately, the announced results highlight the potential of Resolaris as an immuno-modulator of activated T cells and a single treatment for multiple rare myopathies with an immune component (RMIC). Despite this good news, the results may be somewhat shaky.

These results can be summed up by saying that they were supportive of the hypothesis that administering a naturally occurring muscle homeostasis protein with immuno-modulator activities, which is normally secreted by skeletal muscle cells, has the potential to help patients across many rare myopathies with divergent genetic etiologies of disease.

However, it must be noted that the manual muscle testing score and the individualized neuromuscular quality of life questionnaire, which were used as assessments in this trial, are subject to variability over time. These are clinically validated methods, but they are variable over time, whether intra-patient and inter-physician.

The next steps for the company are completing the evaluation of the 003, 004 and 005 biomarker data, particularly peripheral cell-based data using one or more mechanistic assays currently under development at aTyr for agonists of the Resokine pathway and T cell activity. Future trials will be designed using one or more of these mechanistic assays, as well as the option to assess local immune components in skeletal muscle directly with biopsies.

Additionally, aTyr plans to meet with the FDA in 2017 to discuss a regulatory path towards a Biologics License Application.

John Mendlein, Ph.D., CEO of aTyr Pharma, commented:

Congratulations to our team, collaborators and patients that helped us accomplish the fundamental objectives for these clinical trials: (1) to demonstrate the safety and tolerability of our product candidate, Resolaris, across different RMICs and (2) to explore different readouts of potential clinical activity and product candidate activity in different RMICs. We are very pleased to see RMIC patients with two entirely different genetic etiologies showing improvement in muscle strength in 3 months as measured by manual muscle testing. Taken together, our clinical data supports the exciting potential of Resolaris as a single treatment for multiple rare myopathies with an immune component and we believe our clinical results will help inform and direct the future clinical development of Resolaris in RMICs. Finally, we wish to personally thank all the FSHD and LGMD patients and health care professionals who have participated in our trials.

Shares of aTyr were trading down 15% at $3.10 on Tuesday, with a consensus analyst price target of $6.67 and a 52-week trading range of $2.48 to $10.93.

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aTyr Pharma, Inc. (NASDAQ:LIFE) shares are moving -23.29% on the news today and have traded in the range of $2.75 – 3.38 during the current trading session. A number of brokerage analysts have recently weighed in on the stock, providing price target projections. The covering firms currently have a consensus one-year price target of $6.67 on the stock.  This is according to brokerage analysts polled by Thomson Reuters First Call.  This is the average number from the individual targets provided by the firms.  Analysts are projecting earnings per share of $-0.70 for the next fiscal quarter.  For the current year, analysts are predicting earnings of $-2.54 per share according to First Call.

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Looking at where aTyr Pharma, Inc. (NASDAQ:LIFE) is trading on a technical level, the stock is trading -10.75% away from its 50-day moving average of $3.14.  Based on the most recent available data, the equity is -74.38% off of its 52-week high of $10.93 and +12.90% away from its 52-week low which is $2.48.

Today, the stock opened at $3.20 and the last bid at the time of writing stood at $2.80.  During the session thus far, the equity dipped down to $2.75 and touched $3.38 as the high point.  aTyr Pharma, Inc. (NASDAQ:LIFE) has a market cap of $66.41M and has seen an average daily volume of 123,352 over the past three months.

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Disclaimer: The views, opinions, and information expressed in this article are those of the authors and do not necessarily reflect the official policy or position of any company stakeholders, financial professionals, or analysts. Examples of analysis performed within this article are only examples. They should not be utilized to make stock portfolio or financial decisions as they are based only on limited and open source information. Assumptions made within the analysis are not reflective of the position of any analysts or financial professionals.

 

 

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