Biotech, Hepatitis C, Drugs
Anadys Shares Boom on Hepatitis C Finding
Luke Timmerman 1/8/09
Anadys Pharmaceuticals is skyrocketing today. Shares in the San Diego-based biotech shot up more than 80 percent after it reported its experimental hepatitis C drug was able to wipe out more than 99 percent of the virus from the blood in the first 72 hours. As we described today in an interview with CEO Steve Worland, this finding is only from the first eight patients, but it beats others in its class at this early phase of testing.
Anadys (NASDAQ: ANDS) climbed 84 percent to $3.49 at Noon Eastern time today after it released preliminary results. One of the analysts who covers the company, Reni Benjamin of Rodman & Renshaw in New York, told clients in a note the data was “impressive.” He reminded investors the Anadys drug produced its effects at the lowest of three doses it is testing in this Phase I clinical trial.
Results from those groups of patients could drive the stock further this year, and the data could entice big companies like Gilead Sciences or Roche to form a partnership with Anadys to get a piece of the drug, Benjamin says. “While the stock could be volatile in the coming months, based on the results obtained to date, we continue to believe that Anadys Pharmaceuticals represents an overlooked and undervalued company for the long-term, risk oriented investor,” Benjamin wrote.
Luke Timmerman is the National Biotechnology Editor for Xconomy. You can e-mail him at ltimmerman@xconomy.com, call 206-624-2374, or follow him on Twitter at http://twitter.com/ldtimmerman.
1/8/09 3:09 pm
i took interferon A from 96-7 to 99 .2 years . 1st year 3mil second year 5 mil .i was a nonresponder. those 2 years were horrible i’ve lost everything . i almost suffered a breakdown after i stopped the injections 3* weekly. if you can help me –i’m 60 now please let me know. i feel that the current regimen is a waste of time .i couldn’t deal with the ribervarin pill. even so i was so sick it was insane. i had to go to a shrink after the experience & am still taking an anti depressant & an anti anxiety pill. add to that a hypertension pill / i’ve gained well i’m 5ft 4 in & weigh 220. help tyvm ;mook53lhd
1/9/09 5:41 am
This article states “first 8 patients” wow that sure isn’t a whole lot. Hi Mook, sorry you did not respond. There are alot of non-responders at our site, we just stick together and pray for a solution. I also did interferon 2, although I did clear. It is not an easy treatment that is for sure!