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.
Tranzyme, Inc. is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing mechanism-based therapeutics for the treatment of upper gastrointestinal (GI) motility disorders. Shares of TZYM remained unchanged at $0.56. In the past year, the shares have traded as low as $0.50 and as high as $5.64. On average, 683014 shares of TZYM exchange hands on a given day and today's volume is recorded at 0.
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