Idenix raises over $100M from Baupost

|About: Idenix Pharmaceuticals, Inc. (IDIX)|By:, SA News Editor

Idenix Pharmaceuticals (IDIX) has received a net $106.7M by selling 16.42M shares to the The Baupost Group at $6.50 each vs Idenix's close of $6.87 yesterday.

With the deal, Baupost increases its holdings to 35% from 27%.

Idenix will use the money for clinical trials and patent litigation. The company estimates that it will now have funding until H2 2015. (PR)