Anadys prices underwritten public offering of common stock

Oct 15 2010

Anadys Pharmaceuticals, Inc. (Nasdaq: ANDS) announced today the pricing of its underwritten public offering of 13,888,889 shares of its common stock at a price to the public of $1.80 per share.  The gross proceeds to Anadys from this offering are expected to be approximately $25.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses. The offering is expected to close on or about October 20, 2010, subject to customary closing conditions. Anadys has also granted the underwriter a 30-day option to purchase up to an aggregate of 2,083,333 additional shares of common stock to cover over-allotments, if any. All of the shares in the offering are to be sold by Anadys.

Lazard Capital Markets LLC is acting as sole book-running manager in the offering. Anadys intends to use the net proceeds from the offering to support a Phase IIb study of ANA598, which Anadys is on track to commence early in the first quarter of 2011, as well as for general corporate purposes, including working capital.