Idenix Pharmaceuticals, Inc. (IDIX)'s "Good" News Shows Hep C Drug Market Increasingly Murky For Investors
4/9/2014 6:05:01 AM
In the cutthroat hepatitis C drug market — the recent focus of a slew of biotechs, both big and small — investors seem to be increasingly unsure what constitutes good news.
Case in point is Idenix Pharmaceuticals (Nasdaq: IDIX), which saw its stock rise 12 percent over the course of the day yesterday after it reported “potent antiviral activity” for its lead drug for the disease. In a conference call with analysts yesterday, Chief Marketing Officer Douglas Meyers said that based on the results from its seven-day Phase 1/2 study of IDX21437 in 44 patients, the company is planning to start a Phase 2 trial of 200 to 300 hepatitis C patients
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