ARYx Therapeutics- 2004 Fierce 15 revisited

ARYx Therapeutics
Based: Santa Clara, CA
Founded: 1997

Why it was Fierce in 2004: ARYx's researchers were exploring retrometabolic redesign-the idea of re-engineer stalled compounds so that the body flushes them swiftly. The company hoped this would reduce the chances of side effects. ARYx had raised $55 million in venture capital money to support two Phase II clinical candidates--one for arrhythmic heart conditions and the other for gastric reflux.

Where are they now?: The company filed an IPO in 2007 and has seen its share of challenges since then. In 2008, Procter & Gamble dropped out of a pact to develop an experimental therapy for chronic constipation and dyspepsia, and earlier this year its shares were hit hard after a trial comparing the experimental blood clotting drug tecarfarin failed to demonstrate superiority over warfarin, a standard treatment. However, while reporting its Q2 results, ARYx said that it believed tecarfarin remains on an approvable regulatory track, even though the primary endpoint of superiority to warfarin was not met.