JMP cuts Anadys to market perform

Anadys Pharmaceuticals, Inc. was downgraded to market perform from strong buy by JMP Securities analyst Adam Cutler after the company announced it has suspended dosing hepatitis C patients in its ongoing phase 1b clinical study of ANA975 pending additional analysis of preclinical 13-week toxicology studies in animals. Shares of the San Diego-based biopharmaceutical company were down $3.00, or 44.84%, at $3.69 on volume of 8,068,204 shares versus the three-month running average of 304,940 shares. (Nasdaq: ANDS)

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