Aug 7, 2026, 4:04 PM ETHealthcare

aTyr Pharma — Second Quarter 2026 Earnings Summary

ATYRATYR PHARMA INC

Financial Performance

Cash, cash equivalents, restricted cash, and available-for-sale investments totaled $58.9 million as of June 30, 2026, down from $80.9 million as of December 31, 2025.
Research and development expenses were $6.7 million for the three months ended June 30, 2026, compared to $15.4 million in the same period in 2025.
General and administrative expenses were $4.1 million for the three months ended June 30, 2026, compared to $4.9 million in the same period in 2025.
Total operating expenses were $10.9 million for the three months ended June 30, 2026, compared to $20.3 million in the same period in 2025.
Consolidated net loss was $10.3 million for the three months ended June 30, 2026, compared to $19.5 million in the same period in 2025.
Net loss per share, basic and diluted, was $0.11 for the three months ended June 30, 2026, compared to $0.22 in the same period in 2025.
Total operating expenses were $22.3 million for the six months ended June 30, 2026, compared to $36.1 million in the same period in 2025.
Consolidated net loss was $21.1 million for the six months ended June 30, 2026, compared to $34.4 million in the same period in 2025.
Net loss per share, basic and diluted, was $0.22 for the six months ended June 30, 2026, compared to $0.39 in the same period in 2025.
Total assets were $69.8 million as of June 30, 2026, down from $93.0 million as of December 31, 2025.
Total stockholders' equity was $48.6 million as of June 30, 2026, down from $67.3 million as of December 31, 2025.

The company anticipates its current cash position will fund operations into late 2028 based on current operations and new operating expense forecasts.
The company expects to receive FDA comments on the protocol for its planned Phase 3 study in pulmonary sarcoidosis by the end of August 2026.
Topline results from the Phase 2 EFZO-CONNECT study in SSc-ILD are expected in the first quarter of 2027.
The company expects the restructuring and cost-saving measures to reduce annualized operating expenses by approximately $13 million, beginning in the fourth quarter of 2026.
Future development of efzofitimod in the planned Phase 3 study will require additional capital through equity or debt offerings, grant funding, collaborations, strategic partnerships, and/or licensing arrangements.

The company is prioritizing its lead asset, efzofitimod, for the treatment of interstitial lung disease (ILD), specifically pulmonary sarcoidosis and systemic sclerosis (SSc)-related ILD.
Enrollment was completed in the Phase 2 EFZO-CONNECT study of efzofitimod in patients with limited or diffuse SSc-ILD; the study enrolled 23 patients across multiple U.S. centers.
A protocol for a global, randomized, double-blind, placebo-controlled Phase 3 study of efzofitimod in patients with chronic, symptomatic pulmonary sarcoidosis with restrictive lung disease was submitted to the FDA in June 2026.
The planned Phase 3 study will enroll up to approximately 372 patients and last 54 weeks, with a primary endpoint of change from baseline in forced vital capacity (FVC) at week 48.
Post hoc analysis of the Phase 3 EFZO-FIT study presented at the WASOG 2026 Congress demonstrated clinically meaningful benefit for FVC and improvement in patient-reported outcomes for patients treated with 5.0 mg/kg efzofitimod compared to placebo.

ILD is described as a group of immune-mediated disorders with limited therapeutic options, creating a need for safer and more effective, disease-modifying treatments.
The company is focusing its Phase 3 strategy on a more limited patient population (pulmonary sarcoidosis with restrictive lung disease) to address specific unmet needs.

The company faces uncertainty regarding interactions with the FDA and the potential for delays in clinical trials.
There is a risk that the company may not be able to raise additional funding required for business and product development plans.
Risks include the possibility that existing cash resources may be insufficient to fund operations for as long as anticipated due to changes in operating plans or unanticipated expenses.
The company notes that NRP2 and tRNA synthetase biology are not fully understood.
There is a risk that results from clinical trials or other studies may not support further development.

Sanjay S. Shukla, M.D., M.S., President and CEO, stated the company is taking "decisive, necessary action" to focus resources on efzofitimod while awaiting FDA feedback.
Management expressed confidence in the potential of efzofitimod to become a meaningful therapy for patients with these forms of ILD.
The company thanked its dedicated team members for their contributions to advancing tRNA synthetase biology.

The company announced a workforce reduction of approximately 60% to conserve capital and align resources on the efzofitimod program.
Jill Broadfoot, CFO, will step down as of September 30, 2026, and transition to a consultant role; Brandon Yaras, VP of Finance, will be appointed CFO effective October 1, 2026.
Nancy Denyes, General Counsel, will step down as of September 30, 2026, and transition to a consultant role.
The restructuring is designed to align organizational resources to support the efzofitimod program in ILD and complete the Phase 2 EFZO-CONNECT study.