<HTML>
<HEAD>
<TITLE>Anadys Pharmaceuticals, Inc.</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="center" style="font-size: 10pt">As filed with the Securities and Exchange Commission on March&nbsp;26, 2004
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Registration No.&nbsp;333-</I>_______

<P>
<HR size="4" noshade color="#000000" style="margin-top: -5px">
<HR size="1" noshade color="#000000" style="margin-top: -10px">



<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt">Washington, D.C. 20549
</DIV>


<P align="center" style="font-size: 10pt"><HR size="1" noshade width="20%" align="CENTER">


<P align="center" style="font-size: 18pt"><B>FORM S-8</B>

<DIV align="center" style="font-size: 12pt">REGISTRATION STATEMENT</DIV>


<DIV align="center" style="font-size: 12pt">UNDER</DIV>


<DIV align="center" style="font-size: 12pt">THE SECURITIES ACT OF 1933</DIV>


<P align="center" style="font-size: 10pt"><HR size="1" noshade width="20%" align="CENTER">


<P align="center" style="font-size: 24pt"><B>Anadys Pharmaceuticals, Inc.</B>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B><BR>
(State or other jurisdiction of<BR>
incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>22-3193172</B><BR>
(I.R.S. Employer Identification No.)</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><HR size="1" noshade width="20%" align="CENTER">


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>9050 Camino Santa Fe<BR>
San Diego, California</B><BR>
(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;<B>92121</B><BR>
(Zip
code)</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><HR size="1" noshade width="20%" align="CENTER">



<P align="center" style="font-size: 10pt"><B>Anadys Pharmaceuticals, Inc.<BR>
2004 Equity Incentive Plan<BR>
2004 Non-Employee Directors&#146; Stock Option Plan<BR>
2004 Employee Stock Purchase Plan<BR>
2002 Equity Incentive Plan</B><BR>
(Full title of the plan)



<P align="center" style="font-size: 10pt"><B>Elizabeth E. Reed, Esq.<BR>
Senior Director, Legal Affairs and Secretary<BR>
Anadys Pharmaceuticals, Inc.<BR>
9050 Camino Santa Fe<BR>
San Diego, California 92121</B><BR>
(Name and address of agent for service)



<P align="center" style="font-size: 10pt"><B>(858)&nbsp;530-3600</B><BR>
(Telephone number, including area code, of agent for service)



<P align="center" style="font-size: 10pt"><HR size="1" noshade width="20%" align="CENTER">



<P align="center" style="font-size: 10pt">Copy to:<BR>
<B>Thomas A. Coll, Esq.<BR>
Steven M. Przesmicki, Esq.<BR>
Cooley Godward LLP<BR>
4401 Eastgate Mall<BR>
San Diego, California 92121-9109<BR>
(858)&nbsp;550-6000</B>



<P align="center" style="font-size: 10pt"><HR size="1" noshade width="20%" align="CENTER">



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">













<P align="center" style="font-size: 10pt"><B>CALCULATION OF REGISTRATION FEE</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="85%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="26%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>&nbsp;</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>&nbsp;</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Title of Each Class</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed Maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>&nbsp;</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>of Securities to</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Amount to be</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Offering</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Aggregate</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>be Registered</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Registered (1)</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Price per Share</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Offering Price</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Registration Fee</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Common Stock
issuable under the
2004 Equity
Incentive Plan (par
value $0.001 per
share)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">176,135 shares (2)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">7.00 </TD>
    <TD nowrap valign="top">&nbsp;(3)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">1,232,945</TD>
    <TD nowrap valign="top">&nbsp;(3)</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">$</TD>
    <TD align="right" valign="top">156</TD>
    <TD valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Common Stock
issuable under the
2004 Non-Employee
Directors&#146; Stock
Option Plan (par
value $0.001 per
share)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">125,000 shares</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">7.00 </TD>
    <TD nowrap valign="top">&nbsp;(3)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">875,000</TD>
    <TD nowrap valign="top">&nbsp;(3)</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">$</TD>
    <TD align="right" valign="top">111</TD>
    <TD valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Common Stock
issuable under the
2004 Employee Stock
Purchase Plan (par
value $0.001 per
share)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">150,000 shares</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">7.00 </TD>
    <TD nowrap valign="top">&nbsp;(3)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">1,050,000</TD>
    <TD nowrap valign="top">&nbsp;(3)</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">$</TD>
    <TD align="right" valign="top">133</TD>
    <TD valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Common Stock
issuable under the
2002 Equity
Incentive Plan (par
value $0.001 per
share)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1,724,607 shares (4)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">3.17</TD>
    <TD nowrap valign="top">&nbsp;(4)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">5,467,004</TD>
    <TD nowrap valign="top">&nbsp;(4)</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">$</TD>
    <TD align="right" valign="top">693</TD>
    <TD valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:0px; text-indent:-0px"><B>Total</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2,175,742 shares</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">N/A</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">$</TD>
    <TD align="right" valign="top">8,624,949</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">$</TD>
    <TD align="right" valign="top">1,093</TD>
    <TD valign="top">&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the
&#147;1933 Act&#148;), this Registration Statement also registers any additional
shares of the Registrant&#146;s common stock, par value $0.001 per share (the
&#147;Common Stock&#148;), as may become issuable under any of the plans as a result
of any stock split, stock dividend, recapitalization or similar event.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Represents 176,135 shares of Common Stock initially available for future
grants under the 2004 Equity Incentive Plan (the &#147;2004 EIP&#148;) and up to an
additional number of shares that may become issuable under the 2004 EIP
pursuant to its terms The 2004 EIP provides that the share reserve shall
be increased by a number of shares of Common Stock equal to those shares
of Common Stock that are issuable pursuant to stock awards outstanding
under the 2002 Equity Incentive Plan (the &#147;2002 EIP&#148;) as of the effective
date of the initial public offering (the &#147;Offering&#148;) of the Registrant&#146;s
Common Stock as set forth in the Registrant&#146;s Prospectus filed with the
Securities and Exchange Commission on March 26, 2004 pursuant to Rule
424(b) under the 1933 Act, but for the termination of the 2002 EIP as of
the effective date of the Offering, would otherwise have reverted to the
share reserve of the 2002 Plan upon the termination or expiration of those
stock awards. No shares of Common Stock are currently reserved for
issuance upon the exercise of options outstanding under the 2004 EIP
because no options have yet been granted under the 2004 EIP.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This estimate is made pursuant to Rule 457(h) of the 1933 Act solely for
purposes of calculating the registration fee, and is based on the initial
public offering price of the Registrant&#146;s Common Stock as set forth in the
Registrant&#146;s Prospectus filed with the Securities and Exchange Commission
on March 26, 2004 pursuant to Rule 424(b) under the 1933 Act.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Estimated solely for purposes of calculating the registration fee
pursuant to Rule 457(h) of the 1933 Act. The Proposed Maximum Offering
Price Per Share and the Proposed Maximum Aggregate Offering Price are
based upon the weighted average exercise price for the 1,724,607 shares of
Common Stock reserved for issuance upon the exercise of outstanding
options granted under the 2002 EIP. No options are reserved for future
grant under the 2002 EIP. Any shares of Common Stock reserved for
issuance upon the exercise of outstanding options under the 2002 EIP that
are terminated or expire unexercised will reduce the share reserve under
the 2002 EIP but will increase the share reserve under the 2004 EIP by the
same amount as the reduction in the 2002 EIP share reserve.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">2.
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">PART I</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">ITEM 1. PLAN INFORMMATION</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">ITEM 2. REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">ITEM 4. DESCRIPTION OF SECURITIES</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#008">ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#009">ITEM 8. EXHIBITS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#010">ITEM 9. UNDERTAKINGS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#011">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#012">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="a97454exv5w1.txt">EXHIBIT 5.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="a97454exv23w1.txt">EXHIBIT 23.1</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<!-- link1 "PART I" -->
<DIV align="left"><A NAME="000"></A></DIV>

<P align="center" style="font-size: 10pt"><B>PART I</B>



<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE SECTION 10 (a)&nbsp;PROSPECTUS</B>


<!-- link2 "ITEM 1. PLAN INFORMMATION" -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="left" style="font-size: 10pt"><B>ITEM 1. PLAN INFORMATION</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not required to be filed with this Registration Statement.

<!-- link2 "ITEM 2. REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION" -->
<DIV align="left"><A NAME="002"></A></DIV>

<P align="left" style="font-size: 10pt"><B>ITEM 2. REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not required to be filed with this Registration Statement.

<!-- link1 "PART II" -->
<DIV align="left"><A NAME="003"></A></DIV>

<P align="center" style="font-size: 10pt"><B>PART II</B>



<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>


<!-- link2 "ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE" -->
<DIV align="left"><A NAME="004"></A></DIV>

<P align="left" style="font-size: 10pt"><B>ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anadys Pharmaceuticals, Inc. (the &#147;Registrant&#148;) hereby incorporates by
reference into this Registration Statement the following documents previously
filed by the Registrant with the Securities and Exchange Commission (the
&#147;Commission&#148;):


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Registrant&#146;s prospectus filed on March 26, 2004 pursuant to Rule
424(b) under the 1933 Act, relating to the registration statement on Form S-1
(File No.&nbsp;333-110528), which contains audited financial statements for the
Company&#146;s latest fiscal year for which such statements have been filed.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The description of the Registrant&#146;s Common Stock contained in the
Registrant&#146;s registration statement on Form 8-A filed on March&nbsp;12, 2004 (File
No.&nbsp;000-50632) under the Securities Exchange Act of 1934, as amended, including
any amendment or report filed for the purpose of updating such description.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents, reports and definitive proxy or information statements
filed pursuant to Section&nbsp;13(a), 13(c), 14 or 15(d) of the Securities Exchange
Act of 1934 (the &#147;1934 Act&#148;) after the date of this Registration Statement and
prior to the filing of a post-effective amendment which indicates that all
securities offered hereby have been sold or which deregisters all securities
then remaining unsold shall be deemed to be incorporated by reference into this
Registration Statement and to be a part hereof from the date of filing of such
documents. Any statement contained in a document incorporated or deemed to be
incorporated herein by reference shall be deemed to be modified or superseded
for purposes of this Registration Statement to the extent that a statement
contained herein or in any other subsequently filed document which also is or
is deemed to be incorporated by reference herein modifies or supersedes that
statement. Any such statement so modified or superseded shall not constitute a
part of this Registration Statement, except as so modified or superseded.

<!-- link2 "ITEM 4. DESCRIPTION OF SECURITIES" -->
<DIV align="left"><A NAME="005"></A></DIV>

<P align="left" style="font-size: 10pt"><B>ITEM 4. DESCRIPTION OF SECURITIES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable.

<!-- link2 "ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL" -->
<DIV align="left"><A NAME="006"></A></DIV>

<P align="left" style="font-size: 10pt"><B>ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The validity of the issuance of the common stock being offered by this
prospectus and certain other legal matters are being passed upon for us by our
counsel, Cooley Godward LLP, San Diego, California.

<!-- link2 "ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS" -->
<DIV align="left"><A NAME="007"></A></DIV>

<P align="left" style="font-size: 10pt"><B>ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are incorporated under the laws of the State of Delaware. Section&nbsp;145
of the Delaware General Corporation Law provides that a Delaware corporation
may indemnify any persons who are, or are threatened to be


<P align="center" style="font-size: 10pt">3.
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt">made, parties to any threatened, pending or completed action, suit or
proceeding, whether civil, criminal, administrative or investigative (other
than an action by or in the right of such corporation), by reason of the fact
that such person was an officer, director, employee or agent of such
corporation, or is or was serving at the request of such person as an officer,
director, employee or agent of another corporation or enterprise. The indemnity
may include expenses (including attorneys&#146; fees), judgments, fines and amounts
paid in settlement actually and reasonably incurred by such person in
connection with such action, suit or proceeding, provided that such person
acted in good faith and in a manner he or she reasonably believed to be in or
not opposed to the corporation&#146;s best interests and, with respect to any
criminal action or proceeding, had no reasonable cause to believe that his or
her conduct was illegal. A Delaware corporation may indemnify any persons who
are, or are threatened to be made, a party to any threatened, pending or
completed action or suit by or in the right of the corporation by reason of the
fact that such person was a director, officer, employee or agent of such
corporation, or is or was serving at the request of such corporation as a
director, officer, employee or agent of another corporation or enterprise. The
indemnity may include expenses (including attorneys&#146; fees) actually and
reasonably incurred by such person in connection with the defense or settlement
of such action or suit provided such person acted in good faith and in a manner
he or she reasonably believed to be in or not opposed to the corporation&#146;s best
interests except that no indemnification is permitted without judicial approval
if the officer or director is adjudged to be liable to the corporation. Where
an officer or director is successful on the merits or otherwise in the defense
of any action referred to above, the corporation must indemnify him or her
against the expenses which such officer or director has actually and reasonably
incurred. Our amended and restated bylaws, which will become effective upon the
completion of this offering, provide for the indemnification of our directors
and officers to the fullest extent permitted under the Delaware General
Corporation Law.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;102 of the Delaware General Corporation Law permits a corporation
to provide in its certificate of incorporation that a director of the
corporation shall not be personally liable to the corporation or its
stockholders for monetary damages for breach of fiduciary duties as a director,
except for liability:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>for any transaction from which the director derives an improper personal benefit;</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>for acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law;</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>for acts related to unlawful stock repurchases, redemptions or other distributions or payment of dividends;
or</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>for any breach of a director&#146;s duty of loyalty to the corporation or its stockholders.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our amended and restated certificate of incorporation and amended and
restated bylaws include such a provision. Expenses incurred by any officer or
director in defending any such action, suit or proceeding in advance of its
final disposition shall be paid by us upon delivery to us of an undertaking, by
or on behalf of such director or officer, to repay all amounts so advanced if
it shall ultimately be determined that such director or officer is not entitled
to be indemnified by us.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;174 of the Delaware General Corporation Law provides, among other
things, that a director, who willfully or negligently approves of an unlawful
payment of dividends or an unlawful stock purchase or redemption, may be held
liable for such actions. A director who was either absent when the unlawful
actions were approved, or dissented at the time, may avoid liability by causing
his or her dissent to such actions to be entered in the books containing
minutes of the meetings of the board of directors at the time such action
occurred or immediately after such absent director receives notice of the
unlawful acts.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As permitted by the Delaware General Corporation Law, we have entered into
indemnity agreements with each of our directors and executive officers, that
require us to indemnify such persons against any and all expenses (including
attorneys&#146; fees), witness fees, damages, judgments, fines, settlements and
other amounts incurred


<P align="center" style="font-size: 10pt">4.
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt">(including expenses of a derivative action) in connection with any action,
suit or proceeding, whether actual or threatened, to which any such person may
be made a party by reason of the fact that such person is or was a director, an
officer or an employee of ours or any of its affiliated enterprises, provided
that such person acted in good faith and in a manner such person reasonably
believed to be in or not opposed to our best interests and, with respect to any
criminal proceeding, had no reasonable cause to believe his or her conduct was
unlawful. The indemnification agreements also set forth certain procedures that
will apply in the event of a claim for indemnification thereunder.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At present, there is no pending litigation or proceeding involving any of
our directors or executive officers as to which indemnification is required or
permitted, and we are not aware of any threatened litigation or proceeding that
may result in a claim for indemnification. We have an insurance policy
covering our officers and directors with respect to certain liabilities,
including liabilities arising under the Securities Act or otherwise.

<!-- link2 "ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED" -->
<DIV align="left"><A NAME="008"></A></DIV>

<P align="left" style="font-size: 10pt"><B>ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.

<!-- link2 "ITEM 8. EXHIBITS" -->
<DIV align="left"><A NAME="009"></A></DIV>

<P align="left" style="font-size: 10pt"><B>ITEM 8. EXHIBITS.</B>


<DIV align="CENTER">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="90%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>&nbsp;</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">4.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Restated Certificate of Incorporation of the Registrant, as amended. (1)</DIV></TD>
</TR>

<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">4.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Bylaws of the Registrant, as amended. (1)</DIV></TD>
</TR>

<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">4.3</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Specimen Certificate for the Registrant&#146;s Common Stock. (1)</DIV></TD>
</TR>

<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">5.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Opinion of Cooley Godward LLP</DIV></TD>
</TR>

<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">23.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Consent of Ernst &#038; Young LLP, independent auditors.</DIV></TD>
</TR>

<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">23.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Consent of Cooley Godward LLP. Reference is made to Exhibit&nbsp;5.1.</DIV></TD>
</TR>

<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">24.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Power of Attorney. Reference is made to page 6.</DIV></TD>
</TR>

<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">99.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Anadys Pharmaceuticals, Inc. 2004 Equity Incentive Plan and form Stock
Option Agreement, as amended. (1)</DIV></TD>
</TR>

<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">99.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Anadys Pharmaceuticals, Inc. 2004 Non-Employee Directors&#146; Stock Option
Plan and form Stock Option Agreement, as amended. (1)</DIV></TD>
</TR>

<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">99.3</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Anadys Pharmaceuticals, Inc. 2004 Employee Stock Purchase Plan and
related form Offering Document, as amended. (1)</DIV></TD>
</TR>

<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">99.4</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Anadys Pharmaceuticals, Inc. 2002 Equity Incentive Plan and form Stock
Option Agreement, as amended. (1)</DIV></TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<P>
<HR size="1" noshade width="13%" align="left">
<DIV align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt">(1)&nbsp;Filed as an exhibit to the Registrant&#146;s Registration Statement of Form S-1,
as amended (File No.&nbsp;333-110528), originally filed with the Commission on
November&nbsp;14, 2003, and incorporated herein by reference.
</DIV>

<P align="center" style="font-size: 10pt">5.
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link2 "ITEM 9. UNDERTAKINGS" -->
<DIV align="left"><A NAME="010"></A></DIV>

<P align="left" style="font-size: 10pt"><B>ITEM 9. UNDERTAKINGS.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;The undersigned Registrant hereby undertakes: (1)&nbsp;to file, during any
period in which offers or sales are being made, a post-effective amendment to
this Registration Statement (i)&nbsp;to include any prospectus required by Section
10(a)(3) of the 1933 Act, (ii)&nbsp;to reflect in the prospectus any facts or events
arising after the effective date of this Registration Statement (or the most
recent post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set forth in this
Registration Statement and (iii)&nbsp;to include any material information with
respect to the plan of distribution not previously disclosed in this
Registration Statement or any material change to such information in this
Registration Statement; provided, however, that clauses (1)(i) and (1)(ii)
shall not apply if the information required to be included in a post-effective
amendment by those paragraphs is contained in periodic reports filed with or
furnished to the Commission by the Registrant pursuant to Section&nbsp;13 or Section
15(d) of the 1934 Act that are incorporated by reference in this Registration
Statement; (2)&nbsp;that for the purpose of determining any liability under the 1933
Act each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein and the offering of such
securities at that time shall be deemed to be the initial bona fide offering
thereof and (3)&nbsp;to remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the 1933 Act, each filing of the Registrant&#146;s
annual report pursuant to Section 13(a) or Section 15(d) of the 1934 Act that
is incorporated by reference in this Registration Statement shall be deemed to
be a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.&nbsp;Insofar as indemnification for liabilities arising under the 1933 Act
may be permitted to directors, officers or controlling persons of the
Registrant pursuant to the indemnification provisions summarized in Item&nbsp;6 or
otherwise, the Registrant has been advised that, in the opinion of the
Commission, such indemnification is against public policy as expressed in the
1933 Act, and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the 1933
Act and will be governed by the final adjudication of such issue.


<P align="center" style="font-size: 10pt">6.
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="011"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of San Diego, State of California on March&nbsp;26, 2004.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3"><B>ANADYS PHARMACEUTICALS, INC.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">/s/  Elizabeth E. Reed, Esq.
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Elizabeth E. Reed, Esq.&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Senior Director, Legal Affairs and Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><B>POWER OF ATTORNEY</B>




<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>KNOW ALL PERSONS BY THESE PRESENTS</B>, that each person whose signature
appears below hereby constitutes and appoints Kleanthis G. Xanthopoulos, Ph.D.
and Elizabeth E. Reed, Esq., and each of them, his true and lawful
attorney-in-fact and agent, with full power of substitution and resubstitution,
for him and in his name, place and stead, in any and all capacities, to sign
any and all amendments (including post-effective amendments) and supplements to
this Registration Statement and any subsequent Registration Statement to be
filed by Anadys Pharmaceuticals, Inc. pursuant to Rule 462(b) under the
Securities Act of 1933, and to file the same, with all exhibits thereto, and
other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorneys-in-fact and agents, and each of them,
full power and authority to do and perform each and every act and thing
requisite and necessary to be done in connection therewith, as fully to all
intents and purposes as he might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, or their
or his or her substitutes or substitute, may lawfully do or cause to be done by
virtue hereof.


<P align="center" style="font-size: 10pt">7.
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="90%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="34%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Signature</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Title</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Date</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ KLEANTHIS G. XANTHOPOULOS, PH.D.<HR size="1" noshade>
Kleanthis G. Xanthopoulos, Ph.D.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Chief Executive Officer,
President and Director
<I>(Principal Executive Officer)</I>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;26, 2004</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ MICHAEL J. KAMDAR<HR size="1" noshade>
Michael J. Kamdar
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><I>(Principal Financial Officer)</I>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>March&nbsp;26, 2004</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ HEIDI HENSON, CPA<HR size="1" noshade>
Heidi Henson, CPA
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><I>(Principal Accounting Officer)</I>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;26, 2004</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ JASON FISHERMAN, M.D.<HR size="1" noshade>
Jason Fisherman, M.D.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Chairman of the Board
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;26, 2004</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ CHARLES COHEN, PH.D.<HR size="1" noshade>
Charles Cohen, Ph.D.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;26, 2004</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ MARIOS FOTIADIS<HR size="1" noshade>
Marios Fotiadis
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;26, 2004</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ ARGERIS N. KARABELAS, PH.D.<HR size="1" noshade>
Argeris N. Karabelas, Ph.D.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;26, 2004</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">

<TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;<HR size="1" noshade>
Stelios Papadopoulos, Ph.D.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;&nbsp;&nbsp;&nbsp;, 2004</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">

<TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;<HR size="1" noshade>
George A. Scangos, Ph.D.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;&nbsp;&nbsp;&nbsp;, 2004</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">8.
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="012"></A></DIV>

<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


<DIV align="CENTER">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="90%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>&nbsp;</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">4.1</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Restated Certificate of Incorporation of the Registrant, as amended. (1)</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
        <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">4.2</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Bylaws of the Registrant, as amended. (1)</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">4.3</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Specimen Certificate for the Registrant&#146;s Common Stock. (1)</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">5.1</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Opinion of Cooley Godward LLP</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">23.1</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Ernst &#038; Young LLP, independent auditors.</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">23.2</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Opinion of Cooley Godward LLP. Reference is made to Exhibit&nbsp;5.1.</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">24.1</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Power of Attorney. Reference is made to page 6.</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">99.1</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Anadys Pharmaceuticals, Inc. 2004 Equity Incentive Plan and form Stock
Option Agreement, as amended. (1)</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">99.2</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Anadys Pharmaceuticals, Inc. 2004 Non-Employee Directors&#146; Stock Option Plan
and form Stock Option Agreement, as amended. (1)</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">99.3</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Anadys Pharmaceuticals, Inc. 2004 Employee Stock Purchase Plan and related
form Offering Document, as amended. (1)</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">99.4</TD>
    <TD valign="top" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Anadys Pharmaceuticals, Inc. 2002 Equity Incentive Plan and form Stock
Option Agreement, as amended. (1)</DIV></TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>




<P>
<HR size="1" width="18%" align="left" noshade>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="right">(1)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Filed as an exhibit to the Registrant&#146;s Registration Statement of Form
S-1, as amended (File No.&nbsp;333-110528), originally filed with the
Commission on November&nbsp;14, 2003, and incorporated herein by reference.</TD>
</TR>

</TABLE>




<P align="center" style="font-size: 10pt">9.
</DIV>

</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "a97454sv8.htm", "description": "FORM S-8", "secsgml_size_bytes": 58014}]
{"company-data": {"conformed-name": "ANADYS PHARMACEUTICALS INC", "cik": "0001128495", "assigned-sic": "2834"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-113954", "film-number": "04692087"}, "business-address": {"street1": "9050 CAMINO SANTA FE", "city": "SAN DIEGO", "state": "CA", "zip": "92121", "phone": "8585303600"}}
Anadys Pharmaceuticals, Inc.
Table of Contents
As filed with the Securities and Exchange Commission on March 26, 2004
Registration No. 333-
_______
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
Anadys Pharmaceuticals, Inc.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of
incorporation or organization)
22-3193172
(I.R.S. Employer Identification No.)
9050 Camino Santa Fe
San Diego, California
(Address of principal executive offices)
92121
(Zip
code)
Anadys Pharmaceuticals, Inc.
2004 Equity Incentive Plan
2004 Non-Employee Directors' Stock Option Plan
2004 Employee Stock Purchase Plan
2002 Equity Incentive Plan
(Full title of the plan)
Elizabeth E. Reed, Esq.
Senior Director, Legal Affairs and Secretary
Anadys Pharmaceuticals, Inc.
9050 Camino Santa Fe
San Diego, California 92121
(Name and address of agent for service)
(858) 530-3600
(Telephone number, including area code, of agent for service)
Copy to:
Thomas A. Coll, Esq.
Steven M. Przesmicki, Esq.
Cooley Godward LLP
4401 Eastgate Mall
San Diego, California 92121-9109
(858) 550-6000
Table of Contents
CALCULATION OF REGISTRATION FEE
Proposed
Title of Each Class
Maximum
Proposed Maximum
of Securities to
Amount to be
Offering
Aggregate
Amount of
be Registered
Registered (1)
Price per Share
Offering Price
Registration Fee
Common Stock
issuable under the
2004 Equity
Incentive Plan (par
value $0.001 per
share)
176,135 shares (2)
$
7.00
(3)
$
1,232,945
(3)
$
156
Common Stock
issuable under the
2004 Non-Employee
Directors' Stock
Option Plan (par
value $0.001 per
share)
125,000 shares
$
7.00
(3)
$
875,000
(3)
$
111
Common Stock
issuable under the
2004 Employee Stock
Purchase Plan (par
value $0.001 per
share)
150,000 shares
$
7.00
(3)
$
1,050,000
(3)
$
133
Common Stock
issuable under the
2002 Equity
Incentive Plan (par
value $0.001 per
share)
1,724,607 shares (4)
$
3.17
(4)
$
5,467,004
(4)
$
693
Total
2,175,742 shares
N/A
$
8,624,949
$
1,093
(1)
Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the
"1933 Act"), this Registration Statement also registers any additional
shares of the Registrant's common stock, par value $0.001 per share (the
"Common Stock"), as may become issuable under any of the plans as a result
of any stock split, stock dividend, recapitalization or similar event.
(2)
Represents 176,135 shares of Common Stock initially available for future
grants under the 2004 Equity Incentive Plan (the "2004 EIP") and up to an
additional number of shares that may become issuable under the 2004 EIP
pursuant to its terms The 2004 EIP provides that the share reserve shall
be increased by a number of shares of Common Stock equal to those shares
of Common Stock that are issuable pursuant to stock awards outstanding
under the 2002 Equity Incentive Plan (the "2002 EIP") as of the effective
date of the initial public offering (the "Offering") of the Registrant's
Common Stock as set forth in the Registrant's Prospectus filed with the
Securities and Exchange Commission on March 26, 2004 pursuant to Rule
424(b) under the 1933 Act, but for the termination of the 2002 EIP as of
the effective date of the Offering, would otherwise have reverted to the
share reserve of the 2002 Plan upon the termination or expiration of those
stock awards. No shares of Common Stock are currently reserved for
issuance upon the exercise of options outstanding under the 2004 EIP
because no options have yet been granted under the 2004 EIP.
(3)
This estimate is made pursuant to Rule 457(h) of the 1933 Act solely for
purposes of calculating the registration fee, and is based on the initial
public offering price of the Registrant's Common Stock as set forth in the
Registrant's Prospectus filed with the Securities and Exchange Commission
on March 26, 2004 pursuant to Rule 424(b) under the 1933 Act.
(4)
Estimated solely for purposes of calculating the registration fee
pursuant to Rule 457(h) of the 1933 Act. The Proposed Maximum Offering
Price Per Share and the Proposed Maximum Aggregate Offering Price are
based upon the weighted average exercise price for the 1,724,607 shares of
Common Stock reserved for issuance upon the exercise of outstanding
options granted under the 2002 EIP. No options are reserved for future
grant under the 2002 EIP. Any shares of Common Stock reserved for
issuance upon the exercise of outstanding options under the 2002 EIP that
are terminated or expire unexercised will reduce the share reserve under
the 2002 EIP but will increase the share reserve under the 2004 EIP by the
same amount as the reduction in the 2002 EIP share reserve.
2.
TABLE OF CONTENTS
PART I
ITEM 1. PLAN INFORMMATION
ITEM 2. REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION
PART II
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE
ITEM 4. DESCRIPTION OF SECURITIES
ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED
ITEM 8. EXHIBITS
ITEM 9. UNDERTAKINGS
SIGNATURES
EXHIBIT INDEX
EXHIBIT 5.1
EXHIBIT 23.1
Table of Contents
PART I
INFORMATION REQUIRED IN THE SECTION 10 (a) PROSPECTUS
ITEM 1. PLAN INFORMATION
Not required to be filed with this Registration Statement.
ITEM 2. REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION
Not required to be filed with this Registration Statement.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE
Anadys Pharmaceuticals, Inc. (the "Registrant") hereby incorporates by
reference into this Registration Statement the following documents previously
filed by the Registrant with the Securities and Exchange Commission (the
"Commission"):
(a) The Registrant's prospectus filed on March 26, 2004 pursuant to Rule
424(b) under the 1933 Act, relating to the registration statement on Form S-1
(File No. 333-110528), which contains audited financial statements for the
Company's latest fiscal year for which such statements have been filed.
(b) The description of the Registrant's Common Stock contained in the
Registrant's registration statement on Form 8-A filed on March 12, 2004 (File
No. 000-50632) under the Securities Exchange Act of 1934, as amended, including
any amendment or report filed for the purpose of updating such description.
All documents, reports and definitive proxy or information statements
filed pursuant to Section 13(a), 13(c), 14 or 15(d) of the Securities Exchange
Act of 1934 (the "1934 Act") after the date of this Registration Statement and
prior to the filing of a post-effective amendment which indicates that all
securities offered hereby have been sold or which deregisters all securities
then remaining unsold shall be deemed to be incorporated by reference into this
Registration Statement and to be a part hereof from the date of filing of such
documents. Any statement contained in a document incorporated or deemed to be
incorporated herein by reference shall be deemed to be modified or superseded
for purposes of this Registration Statement to the extent that a statement
contained herein or in any other subsequently filed document which also is or
is deemed to be incorporated by reference herein modifies or supersedes that
statement. Any such statement so modified or superseded shall not constitute a
part of this Registration Statement, except as so modified or superseded.
ITEM 4. DESCRIPTION OF SECURITIES
Not Applicable.
ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.
The validity of the issuance of the common stock being offered by this
prospectus and certain other legal matters are being passed upon for us by our
counsel, Cooley Godward LLP, San Diego, California.
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.
We are incorporated under the laws of the State of Delaware. Section 145
of the Delaware General Corporation Law provides that a Delaware corporation
may indemnify any persons who are, or are threatened to be
3.
Table of Contents
made, parties to any threatened, pending or completed action, suit or
proceeding, whether civil, criminal, administrative or investigative (other
than an action by or in the right of such corporation), by reason of the fact
that such person was an officer, director, employee or agent of such
corporation, or is or was serving at the request of such person as an officer,
director, employee or agent of another corporation or enterprise. The indemnity
may include expenses (including attorneys' fees), judgments, fines and amounts
paid in settlement actually and reasonably incurred by such person in
connection with such action, suit or proceeding, provided that such person
acted in good faith and in a manner he or she reasonably believed to be in or
not opposed to the corporation's best interests and, with respect to any
criminal action or proceeding, had no reasonable cause to believe that his or
her conduct was illegal. A Delaware corporation may indemnify any persons who
are, or are threatened to be made, a party to any threatened, pending or
completed action or suit by or in the right of the corporation by reason of the
fact that such person was a director, officer, employee or agent of such
corporation, or is or was serving at the request of such corporation as a
director, officer, employee or agent of another corporation or enterprise. The
indemnity may include expenses (including attorneys' fees) actually and
reasonably incurred by such person in connection with the defense or settlement
of such action or suit provided such person acted in good faith and in a manner
he or she reasonably believed to be in or not opposed to the corporation's best
interests except that no indemnification is permitted without judicial approval
if the officer or director is adjudged to be liable to the corporation. Where
an officer or director is successful on the merits or otherwise in the defense
of any action referred to above, the corporation must indemnify him or her
against the expenses which such officer or director has actually and reasonably
incurred. Our amended and restated bylaws, which will become effective upon the
completion of this offering, provide for the indemnification of our directors
and officers to the fullest extent permitted under the Delaware General
Corporation Law.
Section 102 of the Delaware General Corporation Law permits a corporation
to provide in its certificate of incorporation that a director of the
corporation shall not be personally liable to the corporation or its
stockholders for monetary damages for breach of fiduciary duties as a director,
except for liability:
•
for any transaction from which the director derives an improper personal benefit;
•
for acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law;
•
for acts related to unlawful stock repurchases, redemptions or other distributions or payment of dividends;
or
•
for any breach of a director's duty of loyalty to the corporation or its stockholders.
Our amended and restated certificate of incorporation and amended and
restated bylaws include such a provision. Expenses incurred by any officer or
director in defending any such action, suit or proceeding in advance of its
final disposition shall be paid by us upon delivery to us of an undertaking, by
or on behalf of such director or officer, to repay all amounts so advanced if
it shall ultimately be determined that such director or officer is not entitled
to be indemnified by us.
Section 174 of the Delaware General Corporation Law provides, among other
things, that a director, who willfully or negligently approves of an unlawful
payment of dividends or an unlawful stock purchase or redemption, may be held
liable for such actions. A director who was either absent when the unlawful
actions were approved, or dissented at the time, may avoid liability by causing
his or her dissent to such actions to be entered in the books containing
minutes of the meetings of the board of directors at the time such action
occurred or immediately after such absent director receives notice of the
unlawful acts.
As permitted by the Delaware General Corporation Law, we have entered into
indemnity agreements with each of our directors and executive officers, that
require us to indemnify such persons against any and all expenses (including
attorneys' fees), witness fees, damages, judgments, fines, settlements and
other amounts incurred
4.
Table of Contents
(including expenses of a derivative action) in connection with any action,
suit or proceeding, whether actual or threatened, to which any such person may
be made a party by reason of the fact that such person is or was a director, an
officer or an employee of ours or any of its affiliated enterprises, provided
that such person acted in good faith and in a manner such person reasonably
believed to be in or not opposed to our best interests and, with respect to any
criminal proceeding, had no reasonable cause to believe his or her conduct was
unlawful. The indemnification agreements also set forth certain procedures that
will apply in the event of a claim for indemnification thereunder.
At present, there is no pending litigation or proceeding involving any of
our directors or executive officers as to which indemnification is required or
permitted, and we are not aware of any threatened litigation or proceeding that
may result in a claim for indemnification. We have an insurance policy
covering our officers and directors with respect to certain liabilities,
including liabilities arising under the Securities Act or otherwise.
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED
Not applicable.
ITEM 8. EXHIBITS.
Exhibit
Number
Description
4.1
Restated Certificate of Incorporation of the Registrant, as amended. (1)
4.2
Bylaws of the Registrant, as amended. (1)
4.3
Specimen Certificate for the Registrant's Common Stock. (1)
5.1
Opinion of Cooley Godward LLP
23.1
Consent of Ernst & Young LLP, independent auditors.
23.2
Consent of Cooley Godward LLP. Reference is made to Exhibit 5.1.
24.1
Power of Attorney. Reference is made to page 6.
99.1
Anadys Pharmaceuticals, Inc. 2004 Equity Incentive Plan and form Stock
Option Agreement, as amended. (1)
99.2
Anadys Pharmaceuticals, Inc. 2004 Non-Employee Directors' Stock Option
Plan and form Stock Option Agreement, as amended. (1)
99.3
Anadys Pharmaceuticals, Inc. 2004 Employee Stock Purchase Plan and
related form Offering Document, as amended. (1)
99.4
Anadys Pharmaceuticals, Inc. 2002 Equity Incentive Plan and form Stock
Option Agreement, as amended. (1)
(1) Filed as an exhibit to the Registrant's Registration Statement of Form S-1,
as amended (File No. 333-110528), originally filed with the Commission on
November 14, 2003, and incorporated herein by reference.
5.
Table of Contents
ITEM 9. UNDERTAKINGS.
A. The undersigned Registrant hereby undertakes: (1) to file, during any
period in which offers or sales are being made, a post-effective amendment to
this Registration Statement (i) to include any prospectus required by Section
10(a)(3) of the 1933 Act, (ii) to reflect in the prospectus any facts or events
arising after the effective date of this Registration Statement (or the most
recent post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set forth in this
Registration Statement and (iii) to include any material information with
respect to the plan of distribution not previously disclosed in this
Registration Statement or any material change to such information in this
Registration Statement; provided, however, that clauses (1)(i) and (1)(ii)
shall not apply if the information required to be included in a post-effective
amendment by those paragraphs is contained in periodic reports filed with or
furnished to the Commission by the Registrant pursuant to Section 13 or Section
15(d) of the 1934 Act that are incorporated by reference in this Registration
Statement; (2) that for the purpose of determining any liability under the 1933
Act each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein and the offering of such
securities at that time shall be deemed to be the initial bona fide offering
thereof and (3) to remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.
B. The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the 1933 Act, each filing of the Registrant's
annual report pursuant to Section 13(a) or Section 15(d) of the 1934 Act that
is incorporated by reference in this Registration Statement shall be deemed to
be a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.
C. Insofar as indemnification for liabilities arising under the 1933 Act
may be permitted to directors, officers or controlling persons of the
Registrant pursuant to the indemnification provisions summarized in Item 6 or
otherwise, the Registrant has been advised that, in the opinion of the
Commission, such indemnification is against public policy as expressed in the
1933 Act, and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the 1933
Act and will be governed by the final adjudication of such issue.
6.
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of San Diego, State of California on March 26, 2004.
ANADYS PHARMACEUTICALS, INC.
By:
/s/  Elizabeth E. Reed, Esq.
Elizabeth E. Reed, Esq.
Senior Director, Legal Affairs and Secretary
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS
, that each person whose signature
appears below hereby constitutes and appoints Kleanthis G. Xanthopoulos, Ph.D.
and Elizabeth E. Reed, Esq., and each of them, his true and lawful
attorney-in-fact and agent, with full power of substitution and resubstitution,
for him and in his name, place and stead, in any and all capacities, to sign
any and all amendments (including post-effective amendments) and supplements to
this Registration Statement and any subsequent Registration Statement to be
filed by Anadys Pharmaceuticals, Inc. pursuant to Rule 462(b) under the
Securities Act of 1933, and to file the same, with all exhibits thereto, and
other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorneys-in-fact and agents, and each of them,
full power and authority to do and perform each and every act and thing
requisite and necessary to be done in connection therewith, as fully to all
intents and purposes as he might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, or their
or his or her substitutes or substitute, may lawfully do or cause to be done by
virtue hereof.
7.
Table of Contents
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.
Signature
Title
Date
/s/ KLEANTHIS G. XANTHOPOULOS, PH.D.
Kleanthis G. Xanthopoulos, Ph.D.
Chief Executive Officer,
President and Director
(Principal Executive Officer)
March 26, 2004
/s/ MICHAEL J. KAMDAR
Michael J. Kamdar
(Principal Financial Officer)
March 26, 2004
/s/ HEIDI HENSON, CPA
Heidi Henson, CPA
(Principal Accounting Officer)
March 26, 2004
/s/ JASON FISHERMAN, M.D.
Jason Fisherman, M.D.
Chairman of the Board
March 26, 2004
/s/ CHARLES COHEN, PH.D.
Charles Cohen, Ph.D.
Director
March 26, 2004
/s/ MARIOS FOTIADIS
Marios Fotiadis
Director
March 26, 2004
/s/ ARGERIS N. KARABELAS, PH.D.
Argeris N. Karabelas, Ph.D.
Director
March 26, 2004
Stelios Papadopoulos, Ph.D.
Director
March    , 2004
George A. Scangos, Ph.D.
Director
March    , 2004
8.
Table of Contents
EXHIBIT INDEX
Exhibit
Number
Description
4.1
Restated Certificate of Incorporation of the Registrant, as amended. (1)
4.2
Bylaws of the Registrant, as amended. (1)
4.3
Specimen Certificate for the Registrant's Common Stock. (1)
5.1
Opinion of Cooley Godward LLP
23.1
Consent of Ernst & Young LLP, independent auditors.
23.2
Consent of Opinion of Cooley Godward LLP. Reference is made to Exhibit 5.1.
24.1
Power of Attorney. Reference is made to page 6.
99.1
Anadys Pharmaceuticals, Inc. 2004 Equity Incentive Plan and form Stock
Option Agreement, as amended. (1)
99.2
Anadys Pharmaceuticals, Inc. 2004 Non-Employee Directors' Stock Option Plan
and form Stock Option Agreement, as amended. (1)
99.3
Anadys Pharmaceuticals, Inc. 2004 Employee Stock Purchase Plan and related
form Offering Document, as amended. (1)
99.4
Anadys Pharmaceuticals, Inc. 2002 Equity Incentive Plan and form Stock
Option Agreement, as amended. (1)
(1)
Filed as an exhibit to the Registrant's Registration Statement of Form
S-1, as amended (File No. 333-110528), originally filed with the
Commission on November 14, 2003, and incorporated herein by reference.
9.