NEW YORK Nov 7 Pharmaceutical firm ARYx
Therapeutics Inc ARYX.O on Wednesday raised $50 million, with
an initial public offering that priced in line with a lowered
The 5-million share offering priced at $10 per share, after
ARYx cut its expected price from an earlier forecast range of
$14 to $16, according to an underwriter.
Underwriters, led by Morgan Stanley (MS.N), have the option
to purchase an additional 750,000 shares to cover
overallotments, according to the company's filing with the U.S.
Securities and Exchange Commission.
The company, based in Fremont, California, is trading on
Nasdaq under the symbol "ARYX." ARYX.O
(Reporting by Lilla Zuill, Editing by Gerald E. McCormick)