Ardea Biosciences Reports Progress of Clinical Development Programs; Provides 2008 Outlook; Announces 2007 Financial Results and Provides 2008 Financia...( SAN DIEGO March 24 /- Ardea Biosc...),Health

SAN DIEGO, March 24 /PRNewswire-FirstCall/ -- Ardea Biosciences, Inc. (Nasdaq: RDEA), a company focused on the discovery and development of small- molecule therapeutics for the treatment of HIV, cancer and inflammatory diseases, including gout, today reported significant accomplishments in 2007, provided key milestones in 2008 for its clinical development programs, announced 2007 fourth quarter and full-year financial results and provided financial guidance for 2008.

"During 2007, we made significant strides in establishing a solid corporate foundation on which our future successes will be built," said Barry D. Quart, PharmD, Ardea Biosciences' President and CEO. "We assembled a proven management team and a group of key expert advisors; we added depth to our pipeline through the discovery of an exciting new product opportunity in gout; and we continued to make progress with our HIV, cancer and inflammatory disease programs."

Recent Accomplishments

-- Reported positive preliminary data from a Phase 2a proof-of-concept

trial of RDEA806 in patients with HIV;

-- Initiated a new clinical development program, stemming from our

RDEA806 research, directed toward the treatment of gout;

-- Initiated a Phase 1 trial of RDEA119 in patients with advanced cancer;

-- Completed a first-in-human micro-dosing study of RDEA436, a second

generation MEK inhibitor for the treatment of cancer and inflammatory

diseases and, based on an encouraging pharmacokinetic profile,

nominated it as a development candidate;

-- Completed a $40 million private placement;

-- Established two scientific advisory boards to guide the inflammatory

disease and H
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