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Idenix Pharmaceuticals Reports Fourth Quarter and Year End 2010 Financial Results

ooking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. These and other risks which may impact management's expectations are described in greater detail under the heading "Risk Factors" in each of the company's annual report on Form 10-K for the year ended December 31, 2009 and quarterly report on form 10-Q for the quarter ended September 30, 2010, as filed with the Securities and Exchange Commission (SEC) and in any subsequent periodic or current report that the company files with the SEC.

All forward-looking statements reflect the company's estimates only as of the date of this release  (unless another date is indicated) and should not be relied upon as reflecting the company's views, expectations or beliefs at any date subsequent to the date of this release. While Idenix may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so, even if the company's estimates change.Idenix Pharmaceuticals Contacts:Kelly Barry (617) 995-9033 (media)Eric Hoffman (617) 224-4485 (investors)IDENIX PHARMACEUTICALS, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(IN THOUSANDS, EXCEPT PER SHARE DATA)(UNAUDITED)Three Months Ended

December 31,

Years Ended

December 31,2010200920102009Revenues:   Collaboration revenue – related party

$ (135)$2,780$6,231$11,717   Other revenue2,5702693,991899Total revenues  

2,4353,04910,22212,616Operating expenses (1):   Cost of revenues

9657102,7652,210   Research and development

8,95810,26844,50641,867   General and administrative

9,1324,88923,43921,467   Restructuring charges

----------2,2381,506Total operating expenses

19,05515,86772,94867,050Loss from operations


SOURCE Idenix Pharmaceuticals, Inc.
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