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Anadys Pharmaceuticals Reports Third Quarter 2010 Financial Results and Highlights
Date:11/8/2010

SAN DIEGO, Nov. 8, 2010 /PRNewswire-FirstCall/ -- Anadys Pharmaceuticals, Inc. (Nasdaq: ANDS), a biopharmaceutical company dedicated to improving patient care by developing novel medicines for the treatment of hepatitis C, today reported its financial results and program highlights for the third quarter ended September 30, 2010.

"With an enhanced cash position from our recent equity financing, we are now positioned to further advance ANA598, our direct acting antiviral being developed for the treatment of hepatitis C," said Steve Worland, Ph.D., President and CEO of Anadys.  "We are currently finalizing preparations for a Phase IIb study of ANA598 in combination with current standard of care in treatment-naïve and treatment-experienced patients.  The Phase IIb study design is intended to support a broad range of potential treatment opportunities in future Phase III studies.  We also plan to augment our HCV development pipeline in the first half of next year by initiating a Phase IIa study of ANA773, our oral inducer of endogenous interferons."  

Financial ResultsAs of September 30, 2010, the Company's cash, cash equivalents and securities available-for-sale totaled $18.9 million compared to $20.5 million as of December 31, 2009.  The decrease in cash, cash equivalents and securities available-for-sale reflects year-to-date cash utilization of $13.0 million to fund operations, including external expenditures associated with the Phase IIa combination study of ANA598, offset by the receipt of net proceeds of $11.4 million from the Company's "registered direct" offering completed in June 2010.  Including the estimated net proceeds of $23.3 million from the Company's underwritten public offering completed in October 2010 and the $0.5 million grant the Company was awarded under the U.S. government's Qualifying Therapeutic Discovery Proj
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Related medicine technology :

1. Anadys Pharmaceuticals Presents Preclinical Results on ANA598, a Non-Nucleoside Inhibitor of the NS5B Polymerase, at the 14th International Symposium on Hepatitis C Virus and Related Viruses
2. Anadys Pharmaceuticals Announces Positive Results for ANA598 in Animal Model of Chronic Hepatitis C Virus Infection
3. Anadys Pharmaceuticals Presents Data on ANA598, a Non-Nucleoside Inhibitor of the HCV Polymerase, at the 21st International Conference on Antiviral Research
4. Anadys Pharmaceuticals Initiates Phase I Clinical Trial of ANA598
5. Anadys Pharmaceuticals Resumes Clinical Investigation of TLR7 Mechanism in HCV
6. Anadys Pharmaceuticals Announces Successful Outcome of ANA598 Healthy Volunteer Study and Finalization of Study Design for Phase Ib Trial in HCV Patients
7. Anadys Pharmaceuticals to Present at the JMP Securities Healthcare Focus Conference
8. Anadys Pharmaceuticals Announces Single Dose Safety and Pharmacokinetics Results for ANA598 in Healthy Volunteers
9. Anadys Pharmaceuticals Commences Dosing in Phase II Study of ANA598
10. Anadys Pharmaceuticals to Present at Two Upcoming Investor Conferences
11. Anadys Pharmaceuticals to Present at the Oppenheimer Healthcare Conference
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