Anadys Pharmaceuticals to Announce Second Quarter Financial Results on August 5, 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, today announced that it will report second quarter financial results on Thursday, August 5, 2004, after the U.S. financial markets close.

Anadys will hold a conference call and webcast to discuss the second quarter results and provide an update on the Company's business on Thursday, August 5, 2004, at 4:30 p.m. ET.

To access the webcast via the Internet, log on to www.anadyspharma.com. Alternatively, please call 1-800-901-5213 (U.S.) or 1-617-786-2962 (international) and dial the participant passcode 35481348 to access the call. To access the telephone replay, please call 1-888-286-8010 (U.S.) or 1-617-801-6888 (international) and dial the participant passcode 94909363. The webcast and telephone replay will be available through August 19, 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.