Why Are ATyr Pharma's Shares Trading Higher Today?

ATyr Pharma Inc LIFE has announced positive results from its Phase 1b/2a trial evaluating its lead therapeutic candidate, ATYR1923, in pulmonary sarcoidosis, a major form of interstitial lung disease.
In 37 patients, ATYR1923 was safe and well-tolerated at all doses with no drug-related serious adverse events or signal of immunogenicity.
Additionally, the study demonstrated consistent dose-response for ATYR1923 on key efficacy endpoints and improvements compared to placebo, including steroid reduction, lung function, sarcoidosis symptom measures, and inflammatory biomarkers.
Steroid reduction of 58% overall from baseline and 22% relative reduction compared to placebo in steroid usage post taper in the 5.0 mg/kg treatment group was observed.
The absolute improvement in forced vital capacity (FVC) measured lung function at week 24 of 3.3% in the 5.0 mg/kg treatment group compared to placebo.
Price Action: LIFE shares are up 9.12% at $5.98 during the market session on the last check Monday.