Thursday, November 26, 2009

Anadys Pharmaceuticals (ANDS) - Good Bet?

ANDS is a small pharma company (~$102 million market cap) with only 37 million shares outstanding. You can see the Livevol Pro Company Summary below:

From the Company Tab I see that ANDS averages 175 option contracts traded a day. On Wednesday, 3,163 contracts traded.... and ... ALL of those were Dec. 2.5 C purchases for a nickel against Open Interest of just 158. These are opening orders. The Company Tab and Option Tab snaps are below illustrating where I found that information (click images to enlarge).

Not that these numbers aren't enough to pique interest - how about this: On September 9 the company began dosing in Phase II ANA598 study (patients chronically infected with hepatitis C virus). It was supopsed to be a 12 week trial. 12 weeks from Sep. 9 gives me Dec. 2. Coincidence? I guess we'll find out. Either way, seems like a cheap bet.

Happy Thanksgiving to all.

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