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aTyr Pharma Inc. (ATYR-0.88%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing includes details on the company's lead therapeutic candidate, efzofitimod, which is in clinical development for the treatment of interstitial lung disease (ILD). Efzofitimod is a tRNA synthetase derived therapy aimed at modulating activated myeloid cells to resolve inflammation and potentially prevent fibrosis progression.
aTyr Pharma reported a net loss of $64.0 million for the year, compared to a net loss of $50.4 million in the previous year. The increase in net loss is attributed to higher research and development expenses, particularly for the EFZO-FIT study and manufacturing preparations for a possible biologics license application.
Research and development expenses increased to $54.4 million from $42.3 million in the previous year, driven by the advancement of efzofitimod clinical trials and manufacturing efforts.
General and administrative expenses were $13.8 million, up from $13.0 million, due to increased personnel costs and professional fees.
The company has cash, cash equivalents, restricted cash, and available-for-sale investments totaling $75.1 million as of December 31, 2024, which it believes will be sufficient to meet its cash requirements for at least one year.
aTyr Pharma's collaboration with Kyorin Pharmaceutical Co., Ltd. for the development and commercialization of efzofitimod in Japan has generated $20.0 million in upfront and milestone payments to date, with potential for additional payments upon achieving certain milestones.
The company continues to focus on its discovery platform to identify new tRNA synthetase-based drug candidates and advance its preclinical programs.
aTyr Pharma acknowledges the need for additional capital to fund its operations and plans to seek funding through equity offerings, collaborations, and strategic partnerships.
The filing also highlights the company's efforts to manage risks related to cybersecurity, regulatory compliance, and market competition.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the aTyr Pharma Inc. annual 10-K report dated March 13, 2025. To report an error, please email earnings@qz.com.