aTyr Pharma downgraded to Perform at Oppenheimer on few material catalysts

As previously reported, Oppenheimer analyst Hartaj Singh downgraded aTyr Pharma to Perform from Outperform due to few material catalysts in the next few quarters. Relatively speaking, the firm believes aTyr is in a fallow period until 2024/2025 from the perspective of data readouts. The lead program in pulmonary sarcoidosis, in a Phase 3 global study, is aTyr Pharma’s main focus now; patient recruitment will take time, and inclusion/exclusion criteria are complex, Oppenheimer says. The second program in Phase 2 study should enroll quicker than the pivotal trial, with initiation slated for Q3 2023, data readout by 2024, an ambitious schedule, in the firm’s view. With few fundamental catalysts on the horizon, Oppenheimer moves to the sidelines.