ATYR's share price decline today: Phase 3 trial failed to meet expectations

aTyr Pharma's Phase 3 EFZO-FIT clinical trial of efzofitimod for treating pulmonary sarcoidosis failed to reach its primary endpoint, causing its share price to plummet 83% to $1.02 and its market value evaporated by about $500 million. Despite the failure to reach the primary endpoint, the company highlighted encouraging secondary outcomes, including a 52.6% steroid discontinuation rate at 48 weeks, improved quality of life scores, and plans to communicate with the FDA about potential future development pathways.