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Idenix Pharmaceuticals Reports Fourth Quarter and Year End 2010 Financial Results
Date:2/28/2011

denix has follow-on drug candidates in the protease inhibitor class that are currently in preclinical development. Idenix anticipates selecting a clinical candidate with broad genotypic activity in 2011.

HCV Nucleoside/tides and ProdrugsIdenix is committed to an intensive and renewed strategy in the discovery and development of nucleoside/tides, with potential application against HCV and other infectious diseases. Currently, Idenix is pursuing multiple follow-on and novel nucleoside/tide programs.

GSK2248761, known as '761 (formerly IDX899), an HIV NNRTI In February 2011, Idenix was informed by ViiV Healthcare Company (ViiV) that '761 was placed on clinical hold by the FDA. ViiV has full responsibility for the development of '761, including any regulatory interactions.

"We are very pleased that the FDA has allowed IDX184, our lead HCV nucleoside inhibitor drug candidate, to advance directly into clinical trials," said Ron Renaud, President and CEO. "We gained insights about our most advanced clinical drug candidates as we prepared our response to the FDA clinical hold, and can apply this knowledge to ongoing preclinical programs. We are excited about our renewed focus on our nucleoside capabilities, as well as multiple opportunities to develop diverse direct-acting antiviral drug candidate classes for HCV."

Fourth Quarter and Full Year 2010 Financial ResultsFor the fourth quarter ended December 31, 2010, Idenix reported total revenues of $2.4 million, compared to total revenues of $3.0 million in the fourth quarter of 2009. The company reported a net loss of $16.2 million, or a loss of $0.22 per basic and diluted share, for the fourth quarter ended December 31, 2010, compared to a net loss of $12.3 million, or a loss of $0.19 per basic and diluted share for the fourth quarter ended December 31, 2009.

For the twelve months ended December 31, 2010, Idenix reported total revenues of $10.2 million, compared to total revenue
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SOURCE Idenix Pharmaceuticals, Inc.
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