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Anadys Pharmaceuticals Stock Up 10%

Shares of Anadys Pharmaceuticals were higher by more than ten percent on Friday on above average daily volume.  ANDS stock price closed the session at $1.28 a share.

The ANDS stock price move comes in the wake of Inhibitex, Inc. reporting positive data for its hepatitis C treatment.  Anadys is developing its own hepatitis medicines with ANA598 and ANA773.  ANA 598 is a small-molecule non-nucleoside inhibitor of the NS5B polymerase for the treatment of hepatitis C.  ANA773 is an oral toll-like receptor 7 for the treatment of hepatitis C and cancer.  ANA773 is currently a Phase I trial product.

ANDS stock price has traded in 52 week range of $0.90 to $3.24 a share.

Anadys Pharmaceuticals

Anadys Pharma ANDS Earnings Report Q1 2010

Anadys Pharmaceuticals Inc. announced First Quarter 2010 financial results on Tuesday, April 27, 2010.

Anadys Pharmaceuticals, a biopharmaceutical company headquartered in San Diego, CA, reported a net loss of $6.2 million for the first quarter of 2010.  Basic and diluted net loss per common share was 17 cents for Q1 2010.

Analyst consensus surveys forecast ANDS to post a loss of 14 cents on nominal sales.

ANDS reported a loss of 11 cents in the previous quarter.  

Anadys' primary focus is on developing drugs to treat hepatitis C and cancer.  ANA598 is the ANDS prospect for hepatitis C and ANA773 is a Phase I trial product for hepatitis C and various oncology applications.

From the ANDS earnings press release:

"ANA598 has demonstrated a very attractive Phase II profile to date in combination with interferon and ribavirin," said Steve Worland, Ph.D., President and CEO of Anadys. "The antiviral activity combined with a favorable safety profile position ANA598 as an attractive agent to advance into Phase IIb development. The opportunity to combine ANA598 with other direct antivirals is especially compelling given the durable antiviral response to date and the synergistic suppression of resistance seen when ANA598 was combined in vitro with a diverse range of antivirals."