Anadys chronicles

Anadys (ANDS) fell $3.77 (56%) to $2.92 last week after it suspended dosing in a Phase Ib trial of HCV compound ANA975. That may be drastic, as ANDS had $99.8 million in cash at March 31 and ended the first quarter with 28.4 million shares outstanding, giving the company a cash value of $3.51 per share. Even if investors ascribe no value to ANA975, the company does have ANA380 in Phase II testing for HBV and cancer compound ANA773, which is expected to start Phase I testing this half. Selected events tracked against ANDS's daily stock price since its IPO in March 2004. There was no news flow near the peak at the end of March 2006. The BioCentury 100 Index peaked in late February and has declined 13% since then. A. 3/26/04 - Anadys raises $48.6M in an IPO

B. 4/19/04 - ANDS exercises an option to license exclusive rights to LB80380 (ANA380) from LG Life Sciencesin South Korea. C. 12/13/04 - ANDS and LG report interim Phase II data showing that ANA380 reduced viral load by 3 logs (99.9%) after 12 weeks in patients with lamivudine-resistant HBV...