Q4 2007 Anadys Pharmaceuticals, Inc. Earnings Conference Call - Final.

Original Source: FD (FAIR DISCLOSURE) WIRE

OPERATOR: Good afternoon ladies and gentlemen and welcome to the Anadys Pharmaceuticals fourth quarter and 2007 year end conference call. My name is Fab and I will be your coordinator for today.

I would now like to turn the call over to Elizabeth Reed, Anadys Vice President of Legal Affairs and Corporate Secretary. Please proceed.

ELIZABETH REED, VP, LEGAL AFFAIRS, CORPORATE SECRETARY, ANADYS PHARMACEUTICALS, INC.: Good afternoon and thank you for joining us. On behalf of Anadys Pharmaceuticals, I would like to welcome everyone to our conference for the fourth quarter and year ended December 31, 2007. I hope you have all had a chance to review today's press release. If you have not and you need a copy you can visit our web site at www.Anadyspharma.com.

Before we get started, I would like to call your attention to the Safe Harbor statement.

This conference call and web cast contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements include but are not limited to references to the expected achievements and timing of future milestones for ANA598 and ANA773 and the expected net cash utilization for 2008. Forward-looking statements also include references to the Company's timing and plans for clinical investigation of ANA773, the Company's belief that TLR-7 agonists offer therapeutic potential for cancer, the believed effect of using alternate dosing schedules with TLR-7 agonists and the scope and structure of future development activities with ANA773 as well as the Company's timing and plans for filing an IND for ANA598 and pending FDA acceptance initiating clinical investigation of ANA598; beliefs about the future treatment landscape for HCV; the favorable pharmaceutical properties seen in preclinical studies of ANA598 and the belief that these pharmaceutical properties provide the potential for ANA598 to successfully compete as a direct antiviral in hepatitis C. Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ, perhaps materially, from those anticipated or suggested by such forward-looking statements. For example, results of preclinical studies may not be predictive of future results and Anadys cannot provide any assurances that ANA598 and ANA773 will have unforeseen safety issues, will have favorable results in future clinical trials or will receive regulatory approval.

In addition, Anadys' results may be affected by risks associated with clinical trials and regulatory approval, Anadys' effectiveness at managing its financial resources, the scope and validity of patent protection as well as competition from other biotechnology and pharmaceutical companies. These and other risk factors are discussed in more detail in our SEC filings, including our Form 10-K for the year ended December 31, 2006 and our form 10-Q for the third quarter of 2007.

With that said, I would like to introduce the members of our management team who will be speaking today. With us are Steve Worland, Ph.D., our President and Chief Executive Officer; Jim Glover, our Senior Vice President Operations and Chief Financial Officer; and Jim Freddo, M.D., our Chief Medical Officer. First, Steve Worland will provide a brief introduction. Jim Glover will summarize our fourth quarter and year end 2007 financial results, then Jim Freddo will review the status of ANA598 and ANA773. Following your questions, Steve Worland will then wrap up the call. At this time, I would like to turn the call over to Steve.

STEVE WORLAND, PRESIDENT & CEO, ANADYS PHARMACEUTICALS, INC.: Thank you, Elizabeth, and thank you everyone for joining us this afternoon. The fourth quarter capped a year of significant change in progress …