Anacor Pharmaceuticals, Inc.(Nasdaq: ANAC )

Anacor Pharmaceuticals, Inc., a biopharmaceutical company, focuses on discovering, developing, and commercializing small-molecule therapeutics derived from its boron chemistry platform. The company’s lead product programs include AN2690, a topical antifungal product candidate in Phase 3 clinical development for the treatment of onychomycosis; AN2728, a topical anti-inflammatory PDE-4 inhibitor in Phase 2b clinical trial for the treatment of psoriasis and atopic dermatitis; and GSK 2251052, or GSK ‘052, a systemic antibiotic in Phase 2 clinical trial for the treatment of infections caused by Gram-negative bacteria. It also engages in developing AN2718, a topical antifungal product candidate, which completed Phase 1 clinical trial for the treatment of onychomycosis and skin fungal infections; and AN2898, a topical anti-inflammatory product candidate, which completed Phase 1 clinical trial for the treatment of psoriasis, and is in Phase 2 clinical trial for the treatment of atopic dermatitis. The company was formerly known as AnaMax, Inc. and changed its name to Anacor Pharmaceuticals, Inc. in 2002. Anacor Pharmaceuticals, Inc. was incorporated in 2000 and is headquartered in Palo Alto, California.

Anacor Pharmaceuticals reported today its second quarter accomplishments and financial results for the three months ended June 30, 2011. Revenues were $2.9 million, compared to $6.7 million for the comparable period in 2010. Excluding that one-time payment, revenues increased by $2.0 million for the quarter ended June 30, 2011 as compared to same quarter in 2010. Research and development expenses for the second quarter of 2011 were $15.5 million, compared to $6.1 million for the comparable period in 2010. General and administrative expenses for the second quarter of 2011 were $2.4 million, compared to $1.7 million for the comparable period in 2010. Net loss for the second quarter of 2011 was $15.3 million, compared to $1.5 million for the same quarter of 2010.

ANAC closed at $4.89, gained 1.87% on last trading day, with the 50,502 volume. It has 52-week low of $4.42 and high of $9.35. It has an ongoing P/E of 1.67, which indicates that it seems highly undervalued. It is rated strong buy by stoxline.com and it has a price target of $6.71 in six months.