Anacor prices initial public offering of common stock

Anacor Pharmaceuticals, Inc. today announced the pricing of its initial public offering of 12,000,000 shares of its common stock at a price of $5.00 per share. The common stock is expected to begin trading on the NASDAQ Global Market today under the trading symbol "ANAC." Anacor has granted the underwriters a 30 day option to purchase up to an additional 1,800,000 shares of its common stock at the initial public offering price, less the underwriting discount, to cover over-allotments, if any. All shares of the common stock being sold in the initial public offering are being offered by Anacor.

Concurrent with the completion of the initial public offering, Anacor will complete a private placement of 2,000,000 shares of common stock, at a price of $5.00 per share, to affiliates of an existing investor in Anacor.

Citi and Deutsche Bank Securities Inc. are acting as joint book-running managers for the initial public offering, and Cowen and Company, LLC and Wedbush PacGrow Life Sciences are acting as co-managers for the initial public offering. The initial public offering is being made only by means of a prospectus. Copies of the prospectus relating to the initial public offering may be obtained from Citi, Brooklyn Army Terminal, 140 58th Street, 8th floor, Brooklyn, NY 11220, or by calling (800) 831-9146 or emailing a request to [email protected] and from Deutsche Bank Securities Inc., Attn: Prospectus Department, 100 Plaza One, Floor 2, Jersey City, NJ 07311, or by calling (800) 503-4611 or emailing a request to [email protected].

The U.S. Securities and Exchange Commission declared a registration statement relating to these securities effective on November 23, 2010. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.