In October 2011, Anadys Pharmaceuticals entered into a definitive agreement to be acquired by Roche. Under the terms of the merger agreement, Roche will commence an all cash tender offer for all outstanding shares of common stock of Anadys at $3.70 per share that represents a 256% premium over the closing price of $1.04 on October 14, 2011. The acquisition centers on Anadys' hepatitis C virus (HCV) compounds that provide additional modes of action that could lead to interferon-free treatment regimens without viral resistance.

Anadys Pharmaceuticals is a biopharmaceutical company committed to advancing patient care by discovering, developing and commercializing novel small molecule medicines for the treatment of hepatitis, other serious infections, and cancer. The company has core expertise in toll-like receptor-based small molecule therapeutics and structure-based drug design coupled with medicinal chemistry. Anadys is the result of the unification of scientists, technologies, products and patents from Scriptgen Pharmaceuticals, the European Molecular Biology Laboratory (EMBL), and the Scripps Research Institute and the University of California San Diego.

In October 2011, Anadys Pharmaceuticals entered into a definitive agreement to be acquired by Roche. Under the terms of the merger agreement, Roche will commence an all cash tender offer for all outstanding shares of common stock of Anadys at $3.70 per share that represents a 256% premium over the closing price of $1.04 on October 14, 2011. The acquisition centers on Anadys' hepatitis C virus (HCV) compounds that provide additional modes of action that could lead to interferon-free treatment regimens without viral resistance.

In October 2010, Anadys Pharmaceuticals priced its underwritten public offering of 13,888,889 shares of its common stock at $1.80 per share. The gross proceeds to Anadys from this offering were approximately $25.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses. 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 overallotments, if any. Lazard Capital Markets is acting as sole bookrunning manager in the offering.

In June 2009, Anadys Pharmaceuticals entered into definitive agreements with institutional investors to raise approximately $17.5 million in gross proceeds in a registered direct offering through the sale of shares of its common stock and warrants. Anadys estimates that net proceeds from the offering will be approximately $16.2 million, after deducting placement agent fees and estimated offering expenses (not including up to $100,000 of related expenses payable to the placement agent). Anadys has entered into subscription agreements with each of these investors pursuant to which it has agreed to sell a total of 8,358,000 units, each unit consisting of one share of common stock and one warrant to purchase 0.35 of a share of common stock (or a total of 2,925,300 shares), at a purchase price of $2.09375 per unit. The warrants will be exercisable six months after issuance at $2.75 per share and will expire 5 years from the date of issuance. The shares of common stock and warrants are immediately separable and will be issued separately. The closing of the transaction is scheduled to occur on June 9, 2009, subject to the satisfaction of customary closing conditions. All of the securities were offered pursuant to an effective shelf registration statement. Cowen and Company, a subsidiary of Cowen Group, acted as the exclusive placement agent for the transaction.

In June 2009, Anadys Pharmaceutical cut its work force by 40%, and ended the early stage HCV and anticancer drug programs for ANA773 to focus on ANA598, in midstage development for HCV.

In August 2007, Anadys Pharmaceuticals restructured its operations to focus on two key compounds with the highest commercial potential, ANA598 for hepatitis C and ANA773 for cancer. In connection with this restructuring, Anadys halted all work on early discovery projects, and reduced its workforce by one third.

In August 2005, Anadys Pharmaceuticals completed a public offering of 5.75 million common shares, including the underwriters’ full exercise of a 750,000 shares issue option, at $12.40 per share. The aggregate gross offering proceeds, including shares issued upon over-allotment option exercise, are $71.3 million, with net proceeds of approximately $66.7 million. Credit Suisse, First Boston, and SG Cowen & Co. acted as joint offering book runners with Piper Jaffray and Needham & Co. as co-managers.

In June 2005, Anadys entered into the exclusive collaboration with Novartis to develop and commercialize ANA975 for chronic hepatitis C virus (HCV) and hepatitis B virus (HBV) infections. In addition to the $20 million upfront payment, Anadys is eligible to receive up to $550 million in regulatory and commercial milestone payments based on the successful development and commercialization of ANA975. A $10 million payment is due following a successful IND submission, which Anadys expects to file with the FDA this summer. The agreement also includes potential royalty payments for sales outside the USA and a 35% USA copromotion option for Anadys.

In April 2004, the underwriters of Anadys Pharmaceuticals initial public offering have exercised their over-allotment option to purchase an additional 743,950 shares of common stock. Net company proceeds were approximately $4.8 million. This brings the total proceeds of the IPO, before offering expenses and after deducting underwriting discounts and commissions, to $45,530,615.

In March 2004, Anadys Pharmaceuticals priced its initial public offering of 6.25 million common shares at $7.00 per share.

In July 2002, Anadys raised $38.3 million through a private placement of Series C preferred stock. The round was led by Care Capital with a strong syndicate of existing and new investors, including: Advent International, Atlas Ventures, Chinese Development Investment Bank, Coastview Capital, HBM BioVentures, International BioMedicine Holdings (advised by Global BioMedical Partners), Lotus Biosciences, SG Asset Management, SG Capital Partners, Sete S.A., Venrock Associates and others. SG Cowen acted as the placement agent with Bear Stearns as a co-manager.

In December 2001, Anadys completed a private placement of $21.2 million. SG Capital Partners led the equity round. Other investors included Advent International, Atlas Ventures, International Biomedicine Partners, Lombard Odier & Cie, Pacific Rim Ventures, Sete, Sofinov, and Venrock Associates.