aTyr Pharma Investor Sues Over Drug Study’s Endpoint Miss (1)

aTyr Pharma Inc. misrepresented its lung condition drug’s ability to get trial patients to completely taper off steroid usage before sharing a disappointing study result, an investor’s proposed class action said.

The clinical-stage biotechnology company’s stock price plunged more than 83% to close at $1.02 a share on Sept. 15, the day it said a third-phase trial of its drug in pulmonary sarcoidosis patients didn’t meet its primary endpoint of a reduction in mean daily oral corticosteroid dose at week 48 compared to a placebo. It was the stock price’s biggest one-day drop since its 2015 market debut, according to ...