SAN DIEGO, Feb. 06, 2020 (GLOBE NEWSWIRE) -- aTyr Pharma, Inc. (Nasdaq: LIFE), a biotherapeutics company engaged in the discovery and development of innovative medicines based on novel immunological pathways, today announced the pricing of an underwritten public offering of 4,235,294 shares of its common stock at a price to the public of $4.25 per share. The offering is expected to close on or about February 10, 2020, subject to customary closing conditions. aTyr has also granted the underwriters a 30-day option to purchase up to an additional 635,294 shares of common stock in connection with the public offering. All of the shares are being sold by aTyr.

Oppenheimer & Co. Inc. is acting as the sole book-running manager for the offering. Roth Capital Partners is acting as the lead manager for the offering.

The gross proceeds to aTyr from this offering are expected to be approximately $18 million, before deducting underwriting discounts and commissions and other offering expenses payable by aTyr.  aTyr anticipates using the net proceeds from the offering for general corporate purposes, including clinical trial expenses, research and development expenses manufacturing expenses, and general and administrative expenses.

Registration statements relating to these securities have been filed with the Securities and Exchange Commission (SEC) and became effective on February 5, 2020. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering, when available, may be obtained for free by visiting the SEC’s website at http://www.sec.gov, or alternatively from the offices of Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26^th Floor, New York, New York 10004, by telephone at 212-667-8055, or by email at EquityProspectus@opco.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About aTyr

aTyr is a biotherapeutics company engaged in the discovery and development of innovative medicines based on novel immunological pathways. aTyr’s research and development efforts are concentrated on a newly discovered area of biology, the extracellular functionality and signaling pathways of tRNA synthetases. aTyr has built a global intellectual property estate directed to a potential pipeline of protein compositions derived from 20 tRNA synthetase genes and their extracellular targets. aTyr’s primary focus is ATYR1923, a clinical-stage product candidate which binds to the neuropilin-2 receptor and is designed to down-regulate immune engagement in interstitial lung diseases.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Litigation Reform Act. Forward-looking statements are usually identified by the use of words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” and variations of such words or similar expressions. We intend these forward-looking statements to be covered by such safe harbor provisions for forward-looking statements and are making this statement for purposes of complying with those safe harbor provisions. These forward-looking statements, include statements regarding the completion and timing of the public offering and the anticipated use of net proceeds therefrom. These forward-looking statements also reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects, as reflected in or suggested by these forward-looking statements, are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. All forward-looking statements are based on estimates and assumptions by our management that, although we believe to be reasonable, are inherently uncertain. Furthermore, actual results may differ materially from those described in these forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, risks and uncertainties associated with market conditions, unanticipated demands on our capital resources and the satisfaction of customary closing conditions related to the offering, as well as those risks set forth in the registration statement related to the offering and in our other SEC filings. Except as required by law, we assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Joyce Allaire
Managing Director, LifeSci Advisors, LLC
jallaire@lifesciadvisors.com

Source: aTyr Pharma, Inc.