ARYx Therapeutics, Inc. (NASDAQ:ARYX) today reported results of operations and provided a general business update for the third quarter ended September 30, 2009.
“Our highest priority remains completing a partnership with a large pharmaceutical company on our oral antiarrythmic agent, budiodarone, for its late-stage development and anticipated commercialization,” stated Dr. Paul Goddard, ARYx chairman and chief executive officer. “We remain confident that a budiodarone partnership will be completed and that with the recently-executed $35 million committed equity line financing in place, we have the flexibility to get the right deal done with the right company. Looking beyond the completion of a budiodarone partnership, we continue to actively pursue a similar partnership for our oral gastrointestinal prokinetic agent, ATI-7505, and are seeking guidance from the United States Food and Drug Administration on the continued development of tecarfarin, our oral anticoagulant compound.”
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