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million in the first quarter, compared with a loss of $5.1 milliohn a year ago. The Fremont company (NASDAQ: ARYX) broughtt in revenue of $1 million in the quarter endedc March, down slightly from $1.1 millionm in revenue last year in thefirsrt quarter. Aryx, led by Chairman and CEO Paul is developing a drug for gastrointestinal disorderds like chronic constipation anddyspepsia -- that drug is beint tested by . It's also got drugs in its pipelinre aimed at blood clots and atrial It hasan early-stage drug meanr as a schizophrenia treatment. The cost of developin these drugs and testing thempushed Aryx's R&D spending to $7.6 million during the up from $4.
5 million in the first quartetr of 2007. It spent $1.1 millionn more this quarter than in the same quarter last year on itsanticoagulantt drug, ATI-5923, which is due to start a Phase IIb triap next month. It also spent $1.2 millionb more in the most recent quarteron ATI-2042, its atriapl fibrillation drug, than in the same quarter last At quarter's end Aryx had $58.67 million in cash and near money. Goddard has been chairmaj since 2003 and CEOsince 2005. He sits on the boardxs of directorsat , and His salary this year is Last year his salary was $408,692 and his total compensatiohn for the year was $1.1 The company's accumulated deficit was $132.
2 millioh at the end of the Under a loan agreement with , Aryx borrowed an additionapl $9 million (the originap deal, from 2005, was for $10 million) in February. The deal lets the companyy pay only interest on the loan forsevehn months, then repay the rest over 36 Its total balance owed under this deal at quarter'xs end was $13.7 million. At quarter's end, Aryx also owed $787,00o0 on equipment loans from GE.
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