LIFE - aTyr pharma falls 10% on public offering of shares
- aTyr Pharma ( NASDAQ: LIFE ) is trading 10.5% lower after the bell after the company announced an underwritten public offering of its common stock.
- aTyr expects to grant the underwriters a 30-day option to purchase additional shares for an amount up to an additional 15% of the shares sold in the public offering.
- The company to use net proceeds primarily for the ongoing development of efzofitimod and the expansion of its clinical development program to include a planned Phase 2 study of efzofitimod in patients with systemic sclerosis (SSc, or scleroderma)-associated interstitial lung disease.
- The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.
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aTyr pharma falls 10% on public offering of shares