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Anadys Pharmaceuticals Reports First Quarter 2009 Financial Results and Highlights
Date:4/23/2009

mber 2008. Our ANA773 development costs during the three months ended March 31, 2009 were primarily driven by our on-going Phase I clinical trial for the treatment of HCV.

General and administrative expenses remained relatively consistent at approximately $2.1 million for the first quarter of 2009 and $2.0 million for the first quarter of 2008.

Operating expenses were $8.9 million for the first quarter of 2009, compared to $8.1 million for the first quarter of 2008. Included as a component of Anadys' operating expenses were non-cash, share-based expenses of $0.7 million for the first quarter of 2009 and 2008.

The net loss was $8.8 million for the first quarter of 2009, compared to a net loss of $7.4 million for the first quarter of 2008. Basic and diluted net loss per common share was $0.30 in the first quarter of 2009 compared to $0.26 in the first quarter of 2008. Non-cash share-based expense resulted in a $0.02 increase in basic and diluted net loss per share for the three months ended March 31, 2009 and 2008.

Development Program Highlights

ANA598

ANA598 is an investigational oral non-nucleoside polymerase inhibitor that Anadys is developing for the treatment of chronic hepatitis C virus (HCV) infection. Three Phase I trials, including one in HCV patients, are now completed and the program remains on track to be ready in mid-2009 for Phase II studies of ANA598 in combination with current standard of care. The actual timing for the initiation of Phase II studies may depend on a number of factors, including FDA review timelines, the timing of any potential transaction around ANA598 or ANA773, available cash resources and funding activities, and the engagement of clinical sites.

  • Potent Antiviral Activity in HCV. Earlier today, Anadys presented antiviral and safety data from all three dose levels i
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SOURCE Anadys Pharmaceuticals, Inc.
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