ARYx Therapeutics, Inc. Clarifies Current Status of Operations
Published: Dec 27, 2010
FREMONT, Calif.--(BUSINESS WIRE)--ARYx Therapeutics, Inc. (NASDAQ:ARYX) today provided further clarification of its status as an operating company, including the on-going appointment of its officers on behalf of the Company. The NASDAQ Staff has requested additional clarification about the Company’s operations in conjunction with their on-going consideration of the Company’s eligibility for continued listing on The NASDAQ Capital Market. ARYx remains operational, with specific activities underway, which are designed to further the development and approval of naronapride, and to enhance the value of the Company’s assets. In addition, four officers of ARYx remain in their respective roles as officers, appointed by the board of directors to operate the company in good standing. The officers’ duties, as specified in the ARYx Charter, remain unchanged by the recent reorganization, including the change in their compensation methodology.