Cory Renauer
Value, research analyst, biotech, small-cap

Idenix Maintains HCV Hopes Despite FDA's No New 'Nuc' Attitude

About a year and a half ago, the market drove shares of Idenix Pharmaceuticals (NASDAQ: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 (NYSE: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 investigational...

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