Inclusion Criteria:

- Signed written informed consent

- In the Phase I portion, Asian subjects that are > or = to 18 years of age

- In the Phase II portion, any subjects that are > or = to 18 years of age

- Non-resectable locally advanced, recurrent, or metastatic hepatocellular carcinoma
(HCC) that is either histologically proven or a radiologically documented liver mass
with: (alpha-fetoprotein [AFP] > 4,000 ng/mL, hepatitis B surface antigen positive or
alpha-fetoprotein [AFP] > 400 ng/mL, hepatitis B surface antigen negative)

- Radiologically documented measurable disease

- Adequate performance status and organ function, as evidenced by hematologic and
biochemical blood testing

- Willing to not receive fluoropyrimidine containing chemotherapy for 8 weeks after the
last dose of ADH300004 in this study

Exclusion Criteria:

- Chemotherapy, radiotherapy, or any other investigational drug within 28 days prior to
study entry

- No more than 1 previous treatment with systemic chemotherapy (chemotherapy
administered as part of a chemo-embolization procedure is not considered systemic
chemotherapy)

- Portal hypertension with bleeding esophageal or gastric varices within the past 3
months

- Ascites that is refractory to conservative management

- Inability to take oral medication

- Active peptic ulcer disease

- Known hypersensitivity to 5-FU or ADH300004

- History of primary brain tumors or brain metastases

- Previous or concurrent malignancy at another site within the last 5 years

- Stroke, major surgery, or other major tissue injury within 30 days before study entry