May 26, 2010 / 1:50 PM / 7 years ago

UPDATE 1-Anadys exploring strategic options, including sale

* Retains Lazard Freres as strategic advisor

* To raise about $12.5 mln

* Shares up 8 pct

May 26 (Reuters) - Anadys Pharmaceuticals Inc ANDS.O said it was exploring strategic alternatives, including potential sale of the company.

The company said it has retained Lazard Freres & Co. LLC as its strategic adviser.

Anadys said strategic alternatives may include selling or licensing its experimental hepatitis C drug, ANA598, which is in a mid-stage trial.

The company could also consider alternatives that include a liquidation of its assets and resulting cash distribution per share after payment of outstanding liabilities.

Separately, the company said it entered into agreements with certain institutional investors to raise about $12.5 million.

The company would offer 5.8 million shares at $2.15 per share in a “registered direct” offering.

Shares of the company were up 8 percent at $2.40 in early morning trade Wednesday on Nasdaq. They closed at $2.23 Tuesday. (Reporting by Anand Basu in Bangalore; Editing by Prem Udayabhanu)

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