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

2010 is a $0.5 million grant Anadys was awarded under the U.S. government's Qualifying Therapeutic Discovery Project program.  The remaining decrease was primarily attributable to a $0.5 million decrease in ANA598 development costs and a $0.4 million decrease in ANA773 development costs.General and administrative expenses were $1.7 million for the fourth quarter of 2010, compared to $1.6 million for the fourth quarter of 2009.  The general and administrative expenses were relatively consistent for the fourth quarter of 2010 when compared to the fourth quarter of 2009.

Anadys' net loss was $2.4 million for the fourth quarter of 2010, compared to a net loss of $4.3 million for the fourth quarter of 2009.  Included in the net loss for the fourth quarter of 2010 is a $2.0 million gain resulting from a decrease in the Company's common stock warrant liability from September 30, 2010 to December 31, 2010.  The liability is associated with warrants that were issued in connection with our "registered direct" offering in June 2009.  Basic and diluted net loss per common share was $0.04 in the fourth quarter of 2010, compared to $0.11 in the fourth quarter of 2009.  

For the twelve months ended December 31, 2010, Anadys reported a net loss of $16.3 million, compared to $27.3 million for the twelve months ended December 31, 2009.  Basic and diluted net loss per common share was $0.38 and $0.81 for the twelve months ended December 31, 2010 and 2009, respectively.

2010 Data Presentations

  • AASLD 2010, Oral Presentation – results through 12 weeks from a Phase IIa study of ANA598 were reported.  ANA598 added to SOC accelerated the rate of viral clearance, with comparable response at ANA598 doses of 200 mg bid and 400 mg bid.  ANA598 also showed an excellent resistance profile and safety profile through 12 weeks of dosing in the study, with reported adverse events being typical for patients
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