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Sign in / Join NowEditor’s note: we published this look at Aradigm (NASDAQ:ARDM) a few weeks back, but since then, we’ve talked with Aradigm’s CEO, Igor Gonda, and we are now presenting the analysis with his comments added in. Aradigm has fallen on hard times. After the company’s inhaled drug for asthma failed a Phase II trial in November last year, its shares sank below $1.The Nasdaq exchange had already kicked the company down to the Pink Sheets because its net worth did not meet the minimum requirements for the exchange, and the company was running low on cash besides.Igor Gonda, PhD and CEO of Aradigm since August 2006, said that a further problem was a convertible preferred stock issue that had a $42 million liquidation preference.

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