ARYx Therapeutics, a biopharmaceutical company focused on developing products that eliminate safety issues associated with well-established marketed drugs, announced the terms for its proposed IPO on Tuesday. According to an amended SEC filing, the Fremont, CA based company plans to offer 5 million shares at a range of $14-$16, and it has a proposed market cap of $263 million. Lead underwriter Morgan Stanley has yet to announce timing for the offering.
