Drugmaker Tranzyme Inc said it will explore strategic options, including a sale, less than two months after it stopped the second mid-stage trial of its drug for stomach paralysis.
The company retained Stifel as its financial adviser for the strategic review process, and said it has not made a decision to pursue any specific transaction.
Tranzyme went public in April 2011 at $4 per share and has a market value of $15 million. It has two other products in early testing.
Tranzyme shares closed at 56 cents on Thursday on the Nasdaq.
(Reporting by Esha Dey in Bangalore; Editing by Supriya Kurane)