Pomerantz Haudek Grossman & Gross LLP is investigating claims on behalf of investors of Ardea Biosciences, Inc. ("Ardea" or the "Company") (NASDAQ:RDEA) (ISIN: US03969P1075) concerning the proposed acquisition of Ardea by AstraZeneca in a cash transaction valued at approximately $1.26 billion.

The investigation concerns whether Ardea directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Ardea shareholders would receive $32.00 in cash per share of Ardea common stock. Shareholders representing approximately 30% of Ardea's stock have entered into a voting agreement. However, at least one analyst has set a target price for the Ardea stock at $40 per share.

Ardea shareholders seeking more information about this acquisition are advised to contact Rebecca Jarmon at rjarmon@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 314.

The Pomerantz Firm, with offices in New York, Chicago, and Washington, D.C., is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

Pomerantz Haudek Grossman & Gross LLP
Rebecca Jarmon, 212-661-1100 ext. 314
rjarmon@pomlaw.com