After delaying its initial public offering earlier this year, Trius Therapeutics Inc. said Monday that it now plans to decrease the size of its proposed IPO deal. (BioWorld Today)

Activist shareholder Ramius Value and Opportunity Advisors LLC said that it is seeking to take over Cypress Bioscience Inc., offering to buy the rest of the company shares that it does not already own for $4 per share. (BioWorld Today)