LIFE - aTyr pharma stock rises 15% after Q2 results; efzofitimod phase 3 trial enrollment on track

• aTyr Pharma ( NASDAQ: LIFE ) stock rose ~15% on Aug. 16 following the company's Q2 results a day ago, wherein net loss per share came in line with analysts' estimates .
• Q2 net loss attributable to aTyr Pharma was -$12.42M, compared to -$10.39M in Q2 2021.
• Research and development (R&D) expenses increased to -$9.14M, compared to -$7.66M in the prior year period.
• The company said Q2 R&D expenses consisted of product development and manufacturing costs for efzofitimod and ATYR2810 programs, and startup costs for a phase 3 trial called EFZO-FITTM.
• "We are pleased with our second quarter progress as we announced our plans to initiate EFZO-FIT, a Phase 3 study of efzofitimod in patients with pulmonary sarcoidosis," said aTyr President and CEO Sanjay Shukla.
• Shukla added that the company was on track to enroll the first patient in the study this third quarter.
• Earlier in August, the FDA had granted fast track designation to efzofitimod for immune-mediated disease pulmonary sarcoidosis.
• As of June 30, cash, restricted cash, cash equivalents and investments were $89.3M, according to the company.

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