About a year and a half ago, the market drove shares of Idenix Pharmaceuticals (IDIX) up to $14 on hopes it had struck Hepatitis Type C Virus [HCV] gold. That was before the death and injury of several patients during a clinical trial of Bristol-Myers Squibb's (BMY) similar BMS-094.
After the 094 disaster, the FDA effectively put Idenix's lead compounds on hold. Rather than play the wait-respond-wait game with the FDA over IDX-184 and IDX-19368, Idenix decided it was better to shelve the projects and move on to a slightly different, but perceivably safer nucleotide prodrug.
FDA to Idenix, "No new nucs."
At the end of Q1 2013, Idenix announced its intention to file an...
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