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Anadys Pharmaceuticals Reports Third Quarter 2007 Financial Results and Operational Highlights

available-for-sale totaled $61.7 million.

Recent Highlights

-- IND Accepted for ANA773. During the third quarter, Anadys filed an

Investigational New Drug Application (IND) to commence the clinical

investigation of ANA773 in cancer patients. The Food and Drug

Administration has accepted our IND and we expect to begin our first

clinical trial of ANA773 by the end of the year. ANA773, a novel oral

prodrug of a TLR7 agonist, has demonstrated favorable biologic activity

and promising pharmaceutical properties in preclinical studies.

-- Appointment of Steve Worland, Ph.D. as President and CEO. On

August 24, 2007, we announced that Steve Worland, Ph.D. had been

promoted to the position of President and Chief Executive Officer. Dr.

Worland was also appointed as a member of the Company's Board of

Directors. Dr. Worland joined Anadys in March 2001 as Chief Scientific

Officer and most recently served as President, Pharmaceuticals. Prior

to joining the Company, Dr. Worland was Vice President, Head of

Antiviral Research, at Agouron Pharmaceuticals, a Pfizer Company and

was also a Vice President at Warner-Lambert prior to its acquisition by


-- Discontinuation of ANA975 Development and Strategic Restructuring of

Company. On July 26, 2007, Anadys announced that it and its

collaborator Novartis had decided to discontinue the development of

ANA975, a phase 1b compound for the treatment of hepatitis C virus

(HCV) infection. Following this decision, Anadys has undertaken a

strategic restructuring to focus its resources on the development of

ANA598, a small-molecule, non-nucleoside inhibitor of the NS5B

polymerase for the treatment of HCV, and ANA773, an oral TLR7 agonist

prodrug for the treatment of certain cancers. Included within this<

SOURCE Anadys Pharmaceuticals, Inc.
Copyright©2007 PR Newswire.
All rights reserved

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