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Anadys Pharmaceuticals Reports Fourth Quarter and Year-End 2010 Financial Results and Highlights
Date:3/3/2011

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ANA773

  • Planned Phase IIa Study – In late 2010 the Company announced plans to resume development of ANA773 in HCV as a complement to DAAs in potential all oral regimens. The next planned study is a 28-day study of ANA773, in combination with ribavirin in the first cohorts and as triple therapy in combination with ribavirin and a DAA in subsequent cohorts. Anadys intends to conduct this Phase IIa study of ANA773 in Europe and expects that up to approximately 75 patients will participate in the trial, inclusive of the DAA cohorts.  ANA773 is the Company's oral, small-molecule inducer of endogenous interferons that acts via the TLR7 pathway.
  • 2011 Anticipated Milestones – Anadys intends to commence the ANA773 28-day study during the second quarter of 2011 and expects to receive 4 week viral load data for ANA773 plus ribavirin in the fourth quarter of 2011.

  • Financial Results and HighlightsAs of December 31, 2010, Anadys' cash, cash equivalents and securities available-for-sale totaled $38.0 million compared to $20.5 million as of December 31, 2009.  The increase in cash, cash equivalents and securities available-for-sale reflects the receipt of net proceeds of $34.7 million from the Company's completed equity financings in June and October of 2010, partially offset by the Company's cash utilization during the year to fund operations.

    Total operating expenses were $4.5 million for the fourth quarter of 2010, compared to $5.6 million for the fourth quarter of 2009.  Included as a component of operating expenses were non-cash, share-based expenses of $0.3 million and $0.4 million for the fourth quarter of 2010 and 2009, respectively.

    Research and development expenses were $2.8 million for the fourth quarter of 2010, compared to $4.0 million for the fourth quarter of 2009.  Included as an offset to research and development expenses in the fourth quarter of
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    SOURCE Anadys Pharmaceuticals, Inc.
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