JMP reiterates Anadys at strong buy

Anadys Pharmaceuticals, Inc. was reiterated by JMP Securities analyst Adam Cutler at a strong buy after the company announced that Kleanthis Xanthopoulos will be resigning as president and chief executive officer by the end of the year to join Enterprise Partners Venture Capital. ANA975, in an ongoing phase 1b study in hepatitis C, remains the company's biggest value driver. The study is also expected to trigger a substantial milestone payment from Novartis. Shares of the San Diego-based biopharmaceutical company were up $1.50, or 17.69%, at $6.98 on volume of 1,040,004 shares versus the three-month running average of 293,363 shares. (Nasdaq: ANDS)

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