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

ect program, the Company's pro forma cash balance at September 30, 2010 was $42.7 million.

Total operating expenses were $4.0 million for the third quarter of 2010, compared to $6.0 million for the third quarter of 2009.  Included as a component of Anadys' operating expenses were non-cash, share-based expenses of $0.5 million and $0.6 million for the third quarter of 2010 and 2009, respectively.

Research and development expenses were $2.5 million for the third quarter of 2010, compared to $4.0 million for the third quarter of 2009.  The $1.5 million decrease was primarily attributable to a $0.5 million decrease in ANA773 development costs, a $0.3 million decrease in ANA598 development costs and to a lesser extent personnel and facility cost savings.

General and administrative expenses were $1.5 million for the third quarter of 2010, compared to $2.0 million for the third quarter of 2009.  The $0.5 million decrease was partially attributable to the inclusion of $0.2 million of severance related costs in the third quarter of 2009.  The additional decrease primarily resulted from fluctuations in costs associated with the Company's patent portfolio and to a lesser extent personnel cost savings.  

The net loss was $4.7 million for the third quarter of 2010, compared to a net loss of $7.7 million for the third quarter of 2009.  Included in the net loss for the third quarter of 2010 is a $0.8 million loss resulting from an increase in the liability from June 30, 2010 to September 30, 2010 associated with common stock warrants that were issued in connection with a "registered direct" offering in 2009.  Basic and diluted net loss per common share was $0.11 in the third quarter of 2010, compared to $0.21 in the third quarter of 2009.  Non-cash share-based expense resulted in a $0.01 and $0.02 increase in basic and diluted net loss per share for the third quarter of 2010 and 2009, respectively.

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SOURCE Anadys Pharmaceuticals, Inc.
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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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