ARYx Therapeutics Inc. announced that a review of the results of the Phase 2b clinical trial, PASCAL, testing the efficacy and safety of ARYx's compound for the treatment of atrial fibrillation, budiodarone, was presented at the American Heart Association meeting in Orlando, Florida. The primary efficacy and safety results from PASCAL were announced in early 2009, demonstrating that budiodarone significantly reduces atrial fibrillation (AF) burden, or the time spent in AF, in patients suffering from paroxysmal AF. The details reviewed focused on budiodarone's rapid on-set of action, with a significant reduction in patients' AF burden occurring within the first thirty days of treatment in two of three doses tested. In addition, the effect of budiodarone was sustained over the course of three months of treatment. Budiodarone is a novel oral antiarrythmic therapy modeled on the efficacy of amiodarone, the gold standard treatment for atrial fibrillation. The primary efficacy results showed that budiodarone significantly reduced patients' AF burden in two doses tested, 400 mg BID (p=0.015) and 600 mg BID (p=0.005) over the entire three-month treatment period when compared to each patient's baseline AF burden measured when budiodarone treatment began. The atrial fibrillation burden in these two treatment groups was reduced from baseline by 54% and 75%, respectively. Although the 200 mg BID dose decreased atrial fibrillation burden by 10%, this did not reach statistical significance. Budiodarone treated patients returned to essentially their baseline AF burden within 30 days following treatment. The efficacy analysis also included a month-by-month assessment of the patients' burden. The reduction in atrial fibrillation burden was statistically significant in each of the 3 months of treatment in both the 400 mg BID group and the 600 mg BID group. By significantly reducing AF burden within the first month of treatment, budiodarone appears to have a rapid on-set of action. The maximal effect of the drug was seen in the third month on 600 mg BID where the percentage reduction was 83% (p=0.009).

ARYx Therapeutics Inc. announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported loss from operations of $7,632,000, net loss of $8,150,000 or $0.30 per basic share, against total revenue of $17,544,000, income from operations of $3,413,000, net income of $3,231,000 or $0.18 per basic share or $0.17 per diluted share a year ago. For the nine months, the company reported loss from operations of $25,917,000, net loss of $27,380,000 or $1.00 per basic share, against total revenue of $19,724,000, loss from operations of $17,881,000, net loss of $18,169,000 or $1.03 per basic and diluted share a year ago.

ARYx Therapeutics, Inc. expected to Report Fiscal Year 2009 Results on March 26, 2010. This event was calculated by Capital IQ (Created on November 11, 2009).