The complaint alleges that aTyr Pharma provided overwhelmingly positive statements to investors while, at the same time, disseminating false and misleading statements and/or concealing material adverse facts concerning the efficacy of Efzofitimod, particularly, the drug's capability to allow a patient to completely taper their steroid usage. The truth emerged on September 15, 2025 (pre-market) when aTyr hosted an investor call announcing that the EFZO-FIT study did not meet its primary endpoint. In pertinent part, defendants announced that the study did not meet the primary endpoint in change from baseline in mean daily OSC dose at week 48. Additionally, aTyr announced that the Company's next step was to engage with the FDA to determine a path forward, given the disappointing topline results. Following this news, the price of aTyr's common stock declined from a closing market price of $6.03 per share on September 12, 2025 to $1.02 per share on September 15, 2025, a decline of 83.2% in the span of just a single day.
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