aTyr Pharma, Inc. (LIFE) saw its loss narrow to $13.40 million, or $0.56 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $16.09 million, or $0.68 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $13.21 million, compared with an operating loss of $16.12 million in the previous year period.
"We recently announced that Resolaris demonstrated promising signals of clinical activity and a favorable safety profile in the early onset FSHD patient population. These data contribute to our understanding of Resolaris and will help our team design optimal randomized, placebo-controlled trials in rare muscular dystrophies with an immune component," said John Mendlein, Ph.D., chief executive officer of aTyr Pharma. "During 2017, we look forward to moving our second program Stalaris into the clinic, presenting preclinical findings from our Stalaris program at the American Thoracic Society (ATS) International Conference, advancing the development of pharmacodynamic (PD) assays for our programs, and initiating the next trial for Resolaris after executing a partnership related to one of our programs."
Debt increases substantially
aTyr Pharma, Inc. has witnessed an increase in total debt over the last one year. It stood at $9.57 million as on Mar. 31, 2017, up 121.47 percent or $5.25 million from $4.32 million on Mar. 31, 2016. Total debt was 14.56 percent of total assets as on Mar. 31, 2017, compared with 3.76 percent on Mar. 31, 2016. Debt to equity ratio was at 0.19 as on Mar. 31, 2017, up from 0.04 as on Mar. 31, 2016.
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