Scottsdale, Arizona 1/10/2009 2:47:50 AM
News / Finance

Anadys Pharmaceuticals, Inc. (ANDS) Rises Up More Than 90% After Release of Clinical Trial Results

QualityStocks would like to highlight Anadys Pharmaceuticals, Inc. (NASDAQ: ANDS). The company is a clinical-stage biopharmaceutical company dedicated to improving patient care by developing novel medicines in the areas of hepatitis C and oncology. For the treatment of chronic hepatitis C, the Company is developing two potentially complementary agents, ANA598, a non-nucleoside polymerase inhibitor and ANA773, an oral TLR7 agonist prodrug. The Company is also developing ANA773 for the treatment of cancer.

 

In the company’s news yesterday,

 

Anadys Pharmaceuticals, Inc. announced positive results from the first cohort of an ongoing Phase Ib clinical trial of ANA598, the Company’s investigational non-nucleoside polymerase inhibitor. ANA598 demonstrated potent antiviral activity in patients infected with chronic Hepatitis C virus (HCV) and was very well-tolerated. The company anticipates reporting detailed data from multiple cohorts of the study at an upcoming medical conference.

 

James Freddo, M.D., Anadys’ Senior Vice President, Drug Development and Chief Medical Officer, stated, “We are very pleased with the antiviral activity and safety of ANA598 at this first dose tested in the Phase Ib study. We believe this early data continues to position ANA598 as a leading non-nucleoside polymerase inhibitor in development for the treatment of HCV and we look forward to investigating ANA598 in longer-term studies in combination with current standard of care.”

 

“The clinical and preclinical profile of ANA598 observed to date is very impressive,” added Steve Worland, Ph.D., President and CEO of Anadys. “The magnitude of viral load drop reported today for ANA598 is greater than has been reported for any other non-nucleoside HCV inhibitor in a monotherapy study. Furthermore, the rate of initial viral load decline, believed to be associated with direct inhibition of viral replication, is greater than has been reported previously for all classes of HCV polymerase inhibitors, including nucleosides. This demonstrated antiviral potency holds significant promise for the future use of ANA598 in combination with other anti-HCV agents.”

 

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.