Axonyx, TorreyPines deal

TorreyPines and AXYX will reverse-merge to form TorreyPines Therapeutics Inc., which is expected to trade on NASDAQ under the symbol TPTX. The newco will focus on migraine, chronic pain and Alzheimer's disease (AD). TorreyPines stockholders will own 58% of the combined company and AXYX stockholders will own 42%. The combined companies had about $80 million in cash at the end of the first quarter. ...