General and administrative expenses remained relatively consistent at approximately $2.1 million for the first quarter of both 2008 and 2007.
Operating expenses were $8.1 million for the first quarter of 2008, compared to $8.8 million for the first quarter of 2007. Included as a component of Anadys' operating expenses were non-cash, share-based expenses of $0.7 million and $1.1 million for the first quarter of 2008 and 2007, respectively.
The net loss was $7.4 million for the first quarter of 2008, compared
to a net loss of $6.7 million for the first quarter of 2007. Basic and
diluted net loss per common share was $0.26 in the first quarter of 2008
compared to $0.23 in the first quarter of 2007. Non-cash share-based
expense resulted in a $0.02 and $0.04 decrease in basic and diluted net
loss per share for the three months ended March 31, 2008 and 2007,
Recent Development Program Highlights
-- Completion of Preclinical Activities and IND filing for ANA598. In the
first quarter, Anadys completed preclinical activities required to
advance ANA598 into clinical studies. Subsequent to the close of the
quarter, Anadys submitted an Investigational New Drug (IND) application
to the U.S. Food and Drug Administration (FDA). Pending allowance of
the IND by the FDA, Anadys expects to commence a Phase I single,
ascending-dose clinical trial in healthy volunteers in the second
quarter of 2008 to assess the safety and pharmacokinetics of ANA598.
Following the healthy volunteer study, Anadys plans to initiate a
short-term Phase Ib study of ANA
|SOURCE Anadys Pharmaceuticals, Inc.|
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