NEW YORK, July 15, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on Image Sensing Systems, Inc. aTyr Pharma Inc. (NASDAQ: LIFE). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.
Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=LIFE
Highlights from our LIFE Report include:
- First Quarter 2015 Operating Results -- On June 18, 2015, aTyr Pharma Inc. a biotherapeutics Company which was recently added to the Russell 2000®, Russell 3000® and Russell Global Indexes announced its Q1 2015 operating results. During the reported quarter, its Research and development expenses rose to $6.6 million from $4.4 million in Q1 2014.
- Financial Performance During the Quarter -- During Q1 2015, its general and administrative expenses increased to $2.3 million from $1.5 million in Q1 2014. Net loss attributable to common stockholders for Q1 2015 stood at $9.1 million, or $9.39 loss per diluted share as compared to net loss attributable to common stockholders of $6.2 million or $7.87 loss per diluted share in Q1 2014.
- Increase in Liquidity -- aTyr Pharma informed that its cash, cash equivalents and investment securities as at March 31, 2015 stood at $54.5 million compared with $15.9 million as at March 31, 2014. Furthermore, on May 12, 2015, aTyr Pharma also completed its initial public offering with estimated net proceeds of $76.9 million.
- Update on its Lead Candidate Resolaris™ -- The Company noted that its lead candidate, Resolaris™, is undergoing a Phase 1b/2 clinical trial in adult patients with facioscapulohumeral muscular dystrophy (FSHD). aTyr Pharma expects to report initial results from this clinical trial in Q4 2015 or early 2016.
- Clinical Trials in Pipeline -- aTyr Pharma is also planning to initiate a Phase 1b/2 clinical trial in early onset FSHD patients which is expected to commence in Q3 2015. The Company stated that post the evaluation of a number of muscular dystrophies (MD), including Duchenne muscular dystrophy and a broad class of MD indications of more than 20 rare genetic conditions known as the limb-girdle muscular dystrophies (LGMD), the Company has selected LGMD 2B as its next expansion indication after early onset FSHD. Beginning in Q4 2015, the Company anticipates to move ahead with a Phase 1b/2 clinical trial of Resolaris™ in LGMD 2B.
- Outlook -- The Company anticipates its research and development expense to continue to increase with its Resolaris™ franchise expansion activities, including the clinical development of Resolaris™. Moreover, aTyr Pharma also anticipates a substantial increase in its general and administrative expenses in order to support the continued development of its product candidates and the costs associated with operating as a public company.
To find out how this influences our rating on aTyr Pharma Inc., read the full report in its entirety here: http://www.aciassociation.com/?c=LIFE
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