ARYx Therapeutics sets IPO at 5 mln shares, $14-$16

WASHINGTON Tue Oct 23, 2007 5:34pm EDT

WASHINGTON Oct 23 (Reuters) - ARYx Therapeutics Inc on Tuesday set its planned initial public offering at 5 million shares for an estimated price of $14 to $16 each.

The biopharmaceutical company said in an amended filing with the U.S. Securities and Exchange Commission that Morgan Stanley, CIBC World Markets, Jefferies & Co, and Leerink Swann were underwriting the IPO.

They have the option to buy an additional 750,000 shares to cover over-allotments. ARYx plans to list its stock on the Nasdaq under the symbol "ARYX" ARYX.O.

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