Replies to post #30122 on Biotech Values

[DewDiligence]

What the chance that the departure of ANDS’ CEO is not related to the Albuferon deal?

[DewDiligence]

ANDS off 9% on surprise departure by CEO. The drop could have been worse.

On the CC this morning, the analysts clearly didn’t buy the rationale for the departure. It probably doesn’t help that Jeff Skilling has been in the news lately.

[DewDiligence]

ANDS – I guess we now know why
the CEO wants out and why investors
were smart to not buy the explanation
offered on the CC two weeks ago.
(p.s. ThomasS: This is the drug you
said would make it difficult for IDIX
to compete in the HCV arena; I said
at the time that was one of your worst
calls and I still think that.) CC at 8am ET.

http://biz.yahoo.com/prnews/060626/lam053.html?.v=56

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Anadys Pharmaceuticals Suspends Dosing of ANA975 in Hepatitis C Clinical Trial Pending Further Assessment of 13-Week Pre-Clinical Toxicology Studies

Monday June 26, 5:00 am ET

A Precautionary Measure Until Further Evaluations Can Be Made

Conference Call at 8:00 a.m. EDT Today

SAN DIEGO, June 26 /PRNewswire-FirstCall/ -- Anadys Pharmaceuticals, Inc. (Nasdaq: ANDS ) announced today that it has suspended dosing hepatitis C virus (HCV) patients in its ongoing Phase 1b clinical trial with ANA975 pending additional analysis of recently obtained information from pre-clinical 13-week toxicology studies in animals.

Preliminary analysis of this information revealed various new observations which appear consistent with intense immune stimulation in animals. Anadys and its collaborator Novartis are in the process of evaluating these observations to determine future course of action.

"Although we have not seen any serious adverse events in clinical experience with ANA975, the health and safety of patients are our first and overriding concern," said Kleanthis G. Xanthopoulos, Ph.D., Anadys' President and CEO. "Consequently, we are suspending this trial for appropriate reasons of precaution while we gain a greater understanding of this recently obtained information."

"In collaboration with Novartis we will carefully evaluate these new pre-clinical observations in the context of all available information," said Steve Worland, Ph.D., Anadys' President of Pharmaceuticals. "We will work to determine the best path forward in future development, including dose-finding activities and potential modifications of clinical trial design."

"We continue to believe that ANA975 is an effective immunomodulator and therefore a potentially promising agent for patients infected with hepatitis C virus, and look forward to working with Novartis to continue the program," said Dr. Xanthopoulos. [Doesn’t sound too convincing, IMO.]

About ANA975

ANA975, which Anadys is developing in collaboration with Novartis, is the oral prodrug of isatoribine, a proprietary Toll-Like Receptor-7 (TLR7) agonist. TLR7 is a receptor that activates the innate immune system. Activation of innate immunity is known to be an important component of the human immune defense. ANA975 has been administered to more than 90 healthy volunteers in three completed Phase I trials (501, 502, and 503).

Webcast of Conference Call

Anadys will host a conference call today at 8:00 a.m. Eastern Daylight Time to discuss the suspension of dosing ANA975. A live webcast of the call is available online at www.anadyspharma.com. A telephone replay will also be available approximately one hour after completion of the call. To access the telephone replay, dial 888-286-8010 (domestic) or 617-801-6888 (international), passcode 63285430. The webcast and telephone replay will be available through July 10, 2006.

About Anadys

Anadys Pharmaceuticals, Inc., www.anadyspharma.com, is a biopharmaceutical company committed to advancing patient care by discovering, developing and commercializing novel small molecule medicines for the treatment of hepatitis, other serious infections, and cancer. The Company has core expertise in Toll-Like Receptor-based small molecule therapeutics and structure-based drug design coupled with medicinal chemistry. Anadys' clinical development programs include ANA975 for the treatment of HCV and HBV, and ANA380 for the treatment of HBV. In addition, Anadys' therapeutic platform is designed to advance a strong and continual pipeline of drug candidates into the clinic.
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[DewDiligence]

ANDS Hires CEO

[The new CEO has an impeccable résumé. If he can get ANA975 back into the clinic, he’ll be considered a hero; if not, the company will probably be sold off on the cheap, IMHO.]

http://biz.yahoo.com/prnews/061120/lam052.html?.v=70

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Anadys Pharmaceuticals Names Lawrence C. Fritz, Ph.D., as President and Chief Executive Officer

Monday November 20, 7:30 am ET

SAN DIEGO, Nov. 20 /PRNewswire-FirstCall/ -- Anadys Pharmaceuticals, Inc. (Nasdaq: ANDS ) announced today that it has appointed Lawrence C. Fritz, Ph.D., as President and Chief Executive Officer of the company and a member of the Board of Directors, effective today. Dr. Fritz succeeds Kleanthis G. Xanthopoulos, Ph.D., co-founder and former President and Chief Executive Officer, in accordance with the transition plan announced in June 2006. Dr. Xanthopoulos, who has served as President and CEO since Anadys' inception in May 2000, will continue to serve as a member of the Board of Directors.

Prior to joining Anadys, Dr. Fritz was President and Chief Executive Officer and a member of the Board of Directors of Conforma Therapeutics Corporation, a privately-held company that he founded. Conforma was acquired by Biogen Idec, Inc. in May 2006.

"We are delighted that someone of Larry's exceptional entrepreneurial and scientific leadership will guide Anadys in the coming years, as Anadys evolves from a research and development company to a comprehensive biopharmaceutical company," said George Scangos, Ph.D., Anadys' Chairman of the Board. "Larry has an extraordinary record of involvement in innovative biotechnology companies, forging overall business strategy, establishing major collaborations with Big Pharma, and motivating teams of employees across all levels of an organization. Meanwhile, on behalf of the Board of Directors I wish to thank Kleanthis for his motivational leadership, the creation of an outstanding organization and his commitment and dedication to Anadys as its founding President and CEO. We all look forward to Kleanthis' continued involvement at Anadys as a board member."

"Since Anadys' inception, we have been fortunate to have attracted a strong management team with a common vision and passion to create novel medicines for serious viral infections and recently cancer," said Dr. Xanthopoulos. "I am very pleased that Larry has joined Anadys as President and CEO. He shares both Anadys' vision and core values, and together with the rest of Anadys' management team and Board of Directors, will move Anadys forward to its next exciting stage of development and growth."

"I am very excited to be joining Anadys at this important and promising time in its corporate development," said Dr. Fritz. "I am eager to build on Anadys' legacy of discovering and developing novel medicines for the treatment of patients with viral infections and cancer. I especially look forward to being a part of Anadys' outstanding team as we work to advance our product candidates to the market in the coming years."

From 1999 to 2006, Dr. Fritz was the founder, President and Chief Executive Officer and a member of the Board of Directors of Conforma Therapeutics Corporation, a biopharmaceutical company focused on therapeutic applications of HSP90 chaperone antagonists in oncology. Prior to Conforma, he co-founded Idun Pharmaceuticals, Inc., where he led groups developing therapeutic agents modulating programmed cell death, or apoptosis. He was a member of Idun's Board of Directors and served as Executive Vice President from 1997 to 1999 and Vice President, Research, from 1993 to 1997. From 1986 to 1993, Dr. Fritz was co-founder and Vice President, Research, of Athena Neurosciences, Inc., a public biopharmaceutical company discovering and developing therapeutic agents for the treatment of neurological diseases. Athena was subsequently acquired by Elan Corporation, plc.

Dr. Fritz received a Ph.D. in Biophysics from Rockefeller University. He earned a master's degree in Physiology from University College London and a bachelor's degree in Biochemical Sciences from Harvard.

Inducement Stock Option Grant

The Compensation Committee of the Company's Board of Directors has approved an inducement grant to Dr. Fritz of a non-qualified stock option to purchase 570,000 shares of Anadys' Common Stock, with a date of grant of November 20, 2006, Dr. Fritz's first day of employment with Anadys. This option award was granted without stockholder approval pursuant to NASDAQ Marketplace Rule 4350(i)(1)(A)(iv) and with the following material terms: an exercise price of $4.36 which is equal to the fair market value of Anadys' common stock on the grant date (as determined by the closing price on the prior trading day), a term of 10 years, and a vesting schedule providing that 1/4th of the shares will vest on the one year anniversary of the grant date and 1/48th of the total shares will vest monthly thereafter over the next three years. Although this option was granted outside the Company's 2004 Equity Incentive Plan, it is subject to substantially identical terms and conditions as those contained in the Company's 2004 Equity Incentive Plan.

About Anadys

Anadys Pharmaceuticals, Inc., www.anadyspharma.com, is a biopharmaceutical company committed to advancing patient care by discovering, developing and commercializing novel small molecule medicines for the treatment of viral diseases and cancer. The Company has core expertise in structure-based drug design coupled with medicinal chemistry and Toll-Like Receptor-based small molecule therapeutics. Anadys' clinical development programs include ANA380 for the treatment of HBV, currently in mid-stage clinical development, and ANA975 for the treatment of HCV and HBV, which was suspended while in Phase Ib clinical trials due to pre-clinical toxicology observations in animals. The IND covering ANA975 is currently on full clinical hold; however, a new pre- clinical study has been initiated as a step toward the objective to resume the ANA975 clinical program. Overall, Anadys' therapeutic platform is designed to advance a strong and continual pipeline of drug candidates into the clinic.
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[DewDiligence]

ANDS loses yet another CEO:

http://biz.yahoo.com/prnews/070824/laf046.html?.v=92

Steve Worland, an ANDS executive since 2001, has been promoted to CEO.