Anadys Pharmaceuticals To Announce Third Quarter Financial Results and Clinical Development Plans on November 9, 2004.

SAN DIEGO -- Anadys Pharmaceuticals, Inc. (Nasdaq:ANDS), a biopharmaceutical company committed to the discovery, development and commercialization of novel medicines to treat chronic viral hepatitis and bacterial infections, announced today that it will report third quarter financial results on Tuesday, November 9, 2004, after the U.S. financial markets close.

Anadys will hold a conference call and webcast to discuss the third quarter results and provide an update on the Company's clinical development plans on Tuesday, November 9, 2004, at 5:00 p.m. ET. To access the webcast via the Internet, log on to www.anadyspharma.com. A telephone replay will be available approximately one hour after completion of the conference call. To access the telephone replay, dial [phone] or [phone], passcode 25621117. The webcast and telephone replay will be available through November 23, 2004.

About Anadys

Anadys Pharmaceuticals, Inc. (www.anadyspharma.com) is a biopharmaceutical company committed to advancing patient care by discovering, developing and commercializing novel small molecule, anti-infective medicines for the treatment of hepatitis C virus (HCV), hepatitis B virus (HBV) and bacterial infections. Anadys is advancing its anti-infective portfolio through the development of its two clinical programs, the isatoribine family of compounds including the oral prodrug ANA975 for the treatment of HCV, and ANA380 for the treatment of HBV. In addition, Anadys' anti-infective therapeutic platform is designed to advance a strong and continual pipeline of drug candidates into the clinic.

Statements in this press release that are not strictly historical in nature constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Anadys' actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements. In particular, Anadys' results may be affected by competition from other biotechnology and pharmaceutical companies, its effectiveness at managing its financial resources, its ability to successfully develop and market products, difficulties or delays in its clinical trials, difficulties or delays in manufacturing its clinical trials materials, the scope and validity of patent protection for its products, regulatory developments involving future products and its ability to obtain additional funding to support its operations. These and other factors that may cause actual results to differ are more fully discussed in the "Risk Factors" section of Anadys' Form 10-Q for the quarter ended June 30, 2004. All forward-looking statements are qualified in their entirety by this cautionary statement. Anadys is providing this information as of this date and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.