Anadys to ponder selling the company in strategic review

Shares of Anadys Pharmaceuticals (NASDAQ: ANDS) jumped eight percent this morning after the hepatitis C drug developer announced that it plans a strategic review that could trigger a sale of the company. Another option for Anadys would be the sale or licensing of ANA598, a hep C drug now in mid-stage development.

Lazard Freres & Co. LLC has been brought in as an adviser during the process. "The impressive safety and antiviral response data we recently released establish a very attractive profile for ANA598," said Steve Worland, Ph.D., president and CEO of Anadys. "We look forward to working with Lazard as we pursue options to maximize recognition of the value inherent in the ANA598 program."

Right on the heels of the new telaprevir data from Vertex, Anadys also announced that it has raised $12.5 million in a direct offering. The developer had $5 million in the bank at the end of the first quarter.

- see Anadys' release on the strategic review
- here's the Reuters story
- check out the press release on the stock sale