Posts Tagged ‘ANDS’

Anadys Pharmaceuticals, Inc. (ANDS) soars on buyout news

Monday, October 17th, 2011

Shares of biopharmaceutical company, Anadys Pharmaceuticals, Inc. (Nasdaq: ANDS) surged more than 250 percent from Friday’s closing price in morning trading on Monday after the San Diego-based company announced a definitive merger agreement to be acquired by pharmaceutical giant Roche for $3.70 per share, or about $230 million.

“With Roche’s considerable capabilities and experience in HCV, we believe this acquisition provides the best chance of success for the new potential treatments to reach patients,” said Steve Worland, Ph.D., President and CEO of Anadys in an October 17 press release.

Anadys shares touched a high of $3.67, up from Friday’s closing price of $1.04.

Anadys currently has two hepatitis C drug candidates in clinical trials. Last week, the company announced that a mid-stage trial of its hepatitis C drug, setrobuvir, showed promise, Reuters reported. Setrobuvir, a direct-acting antiviral that works by interacting with and blocking a component of the virus, is in mid-stage trials.

“We are pleased with today’s data, which we believe demonstrate a compelling profile for setrobuvir in significantly more patients,” Worland said in an October 13 press release.

Anadys’ other hepatitis C drug, ANA773, is in early-stage development, and works by stimulating the patient’s own immune system to block cells infected with the virus, Reuters reported on Monday.

Roche’s acquisition of Anadys will help the company strengthen its hepatitis portfolio. “Our aim is to offer physicians and hepatitis patients a powerful combination of therapies that bring us closer to a cure, even without the use of interferon,” said Jean-Jacques Garaud, Global Head of Roche Pharma Research and Early Development in an October 17 press release. “Anadys’ compounds provide additional modes of action that could lead to interferon-free treatment regimens without viral resistance.”



Buzz Stock of the Day- Anadys Pharmaceuticals Inc. (ANDS)

Saturday, August 1st, 2009

Shares of Anadys Pharmaceuticals, Inc. (NASDAQ: ANDS) soared today after the San Diego-based company announced that U.S. Food and Drug Administration regulators approved the design of a study for its hepatitis C treatment.

Shares were up $1.32, or 73 percent from yesterday’s closing price in morning trading, and closed the day 45 percent higher at $2.60 per share.

The company’s hepatitis C treatment, ANA598, has “demonstrated potent antiviral activity and good tolerability as a single agent in Phase 1, as well as preclinical properties indicative of likely synergy when used clinically in combination regimens,” according to CEO, Steve Worland, Ph.D. “This trial incorporates several attractive features designed to further enhance the competitive position of ANA598, including twelve weeks of triple combination treatment and a randomized exploration of shortening the overall duration of HCV therapy in conjunction with ANA598 treatment.”

The FDA approval establishes the length and goals of the study, which clarifies what is considered successful testing. The study was previously sidelined when three participants dropped out of testing after developing a rash.

Anadys said the FDA cleared the study protocol and patient dosing is expected to start in the next several weeks. Ninety patients are planned to be enrolled in the study, with 30 patients receiving the drug, ANA598, and 15 receiving a dummy drug at each dose level. The study would test 200 mg and 400 mg doses of the drug.

For the second quarter, the company posted a net loss of $6.5 million, or 21 cents a share, compared with a net loss of $7.1 million, or 25 cents a share, a year ago. The company’s cash, cash equivalents and securities available for sale as of June 30 totaled $30.6 million compared to $27.9 million as of December 31, 2008. These cash reserves are expected to fund operations into 2011.

“With our enhanced cash position, reduced cost structure and Phase II protocol allowance from the FDA, we are well positioned to continue advancing the development of ANA598 as a treatment for chronic hepatitis C,” Worland said in a statement.