aTyr Pharma announced that its lead candidate, efzofitimod, failed to meet the primary endpoint in a Phase 3 trial for pulmonary sarcoidosis, showing no statistically significant steroid dose reduction compared to placebo. The trial setback caused a precipitous decline of over 80% in aTyr’s stock price. Despite the negative results, the company plans discussions with the FDA to explore regulatory pathways forward. The trial focused on a difficult-to-treat inflammatory lung condition where steroid tapering is a key unmet need.