After treating investors to a wild ride this year--with shares first shooting up and then falling back to earth on its hep C data--Anadys is telling Xconomy that it's poised to ride along at a more soothing pace in the months to come.
Reaching a state of stability required laying off 40 percent of its staff and selling shares at a bargain basement rate, but CEO Steve Worland tells the tech web site that it has outlined a clear development path for ANA598, with enough cash on hand to fund ops into 2011.
The key to its ability to win back the hearts of investors--and driving its share price back up--lies in the FDA's decision to approve a 12-week trial of Anadys' hep C drug. Worland says that agency usually looks for four weeks' worth of data at this stage of development. The 12-week design will give Anadys the kind of data that can be used to convince would-be partners to step in. "People asked ‘can you really do that? Is the FDA going to allow you to do that? The answer is yes. They encouraged it," Worland says.
- read the article from Xconomy