The huge runup in shares of Inhibitex (INHX +32%) following the announcement of the...

|By:, SA News Editor

The huge runup in shares of Inhibitex (INHX +32%) following the announcement of the Gilead-Pharmasset deal makes sense to Canaccord Genuity. Analysts with the firm say the premium paid by Gilead (GILD -11.3%) validates the nuc prodrug platform and will "provide a backbone" to the hepatitis C treatment landscape for both INHX and GILD.