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Offerings: Anadys Pharma Prices Common Shares

October 18, 2010 (FinancialWire) (http://www.financialwire.net/) — Anadys Pharmaceuticals, Inc. (NASDAQ: ANDS) has priced an underwritten public offering of 13,888,889 shares of its common stock at $1.80 per share.

Lazard Capital Markets LLC is acting as sole book-running manager. 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.

The gross proceeds to Anadys from this offering are expected to be around $25 million. The offering is scheduled to close on or about October 20.. All of the shares in the offering are to be sold by Anadys.

Anadys plans to use the net proceeds from the offering to support a Phase IIb study of ANA598, which Anadys said is on track to begin early in the first quarter of 2011, as well as for general corporate purposes, including working capital.

California-based Anadys Pharmaceuticals is a biopharmaceutical company developing novel medicines for the treatment of hepatitis C.  

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