If you’ve been watching the small-cap biotech space, you’ve probably noticed two names buzzing louder than the rest: aTyr Pharma and MoonLake Immunotherapeutics.

Both companies are in the middle of big clinical trials, and the results coming this September could be game changers for patients and for investors keeping an eye on their stock prices.

aTyr Pharma: A Lung Drug That Could Change Lives

aTyr Pharma (NASDAQ: LIFE) is working on something that could finally give hope to people with pulmonary sarcoidosis, a chronic lung condition affecting about 200,000 Americans. Their lead drug, efzofitimod, is in a phase 3 trial that’s almost wrapped up. The results are expected by the end of September.

Here’s why people are excited about the stock. In the smaller phase 2 trial, some patients taking the highest dose were able to taper off steroids completely, something doctors have been trying to achieve for years.

If the larger trial shows significant results, analysts think this drug could hit $1 billion in yearly sales, which is massive for a company currently valued at just $524 million. Tyr only has $83 million in cash left. If the trial disappoints, raising more funds could get tricky.

MoonLake Immunotherapeutics: Tackling Tough Skin Conditions

MoonLake Immunotherapeutics (NASDAQ: MLTX) is taking aim at hidradenitis suppurativa, a painful skin disease that affects around 2% of the population and has very few treatment options. Their lead drug, sonelokimab, is in two phase 3 trials, and top-line results are also expected in September.

The early data look promising; in a previous trial, 57% of patients saw a 75% reduction in symptoms. That’s why many think the phase 3 data could send the stock higher.

MoonLake is also testing the same drug in psoriatic arthritis, with results expected in 2026.

Unlike aTyr, MoonLake has a stronger cash cushion, around $425 million, giving it more room to push forward even if the first results aren’t perfect.

These two companies show exactly why biotech is such a wild but exciting space. Positive data could mean life-changing treatments for patients and huge gains for investors. But, like always with biotech, nothing is guaranteed; clinical trials can surprise everyone, for better or worse.

If you’re watching the small-cap space this September, keep your eyes on aTyr and MoonLake. Big news is just around the corner, and it could shake up the biotech game.