Ardea Biosciences Names Davis CFO

Stephen Davis, former president and CEO of Neurogen Corp., has been named new chief financial officer of Ardea Biosciences.

SAN DIEGO (AP) -- Ardea Biosciences Inc. on Monday hired Stephen Davis as its new chief financial officer.

Davis is the former president and CEO of Neurogen Corp., which was bought by Ligand Pharmaceuticals in December. John Beck had been Ardea's CFO since May 2008.

Shares of Ardea added $1.46, or 6.6 percent, to $23.58 in afternoon trading. The stock earlier hit a new year high of $24, eclipsing a prior peak of $23.90 set April 1.

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