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Anadys Pharmaceuticals Reports Fourth Quarter and Year-End 2008 Financial Results and Highlights
Date:2/26/2009

' Form 10-K for the year ended December 31, 2007 and Anadys' Form 10-Q for the quarter ended September 30, 2008. All forward-looking statements are qualified in their entirety by this cautionary statement. Anadys is providing this information as of this date and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

    Condensed Consolidated Financial Statements

                           Anadys Pharmaceuticals, Inc.
                Condensed Consolidated Statements of Operations
                    (In thousands except per share amounts)
                                   (Unaudited)

                                    Three Months Ended   Twelve Months Ended
                                         December 31,        December  31,
                                        2008      2007      2008      2007

    Revenues                              $-      $225        $-   $24,118

    Operating expenses
      Research and development (1)     6,902     6,917    25,993    28,192
      General and administrative       2,005     1,847     8,109     8,692
    Total operating expenses (2)       8,907     8,764    34,102    36,884

    Interest income and other, net       389       739     1,700     3,594

    Net loss (2)                     $(8,518)  $(7,800) $(32,402)  $(9,172)

    Net loss per share, basic and
     diluted (2)                      $(0.30)   $(0.27)   $(1.13)   $(0.32)

    Share used in calculating net
     loss per share, basic and
     diluted                          28,797    28,674    28,750    28,646


    (1)  Includes $36 as additional research and development expense, which
         represents an estimate of the net payable due to Novartis of
         ANA975 research and development costs for the three months ended
         December 31, 2007.  Includes ($50) a
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SOURCE Anadys Pharmaceuticals, Inc.
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