Idenix Pharmaceuticals Reports Second Quarter and Six Month 2009 Financi...(ery and development programs and I am pl...)

Date:7/20/2009

ery and development programs, and I am pleased with the progress we have made to date," said Jean-Pierre Sommadossi, Ph.D., chairman and chief executive officer of Idenix. "As we work through the second half of the year, we plan to evaluate IDX184 in combination with pegylated interferon and ribavirin in a 14-day dose-ranging study. Additionally, we plan to file investigational new drug applications from our non-nucleoside polymerase inhibitor and protease inhibitor programs. These efforts will take us closer to our ultimate goal of developing novel combinations of direct-acting HCV antivirals."

For the second quarter ended June 30, 2009, Idenix reported total revenues of $2.4 million, compared to total revenues of $1.6 million in the second quarter of 2008. Idenix reported a net loss of $16.3 million, or a loss of $0.28 per basic and diluted share, for the second quarter ended June 30, 2009, compared to a net loss of $18.9 million, or a loss of $0.34 per basic and diluted share for the second quarter ended June 30, 2008.

For the six months ended June 30, 2009, Idenix reported total revenues of $6.5 million, compared to total revenues of $3.6 million for the six months ended June 30, 2008. The company reported a net loss of $29.2 million, or a loss of $0.50 per basic and diluted share, for the six months ended June 30, 2009, compared to a net loss of $39.4 million, or a loss of $0.70 per basic and diluted share, for the six months ended June 30, 2008.

2009 Financial Guidance

The company continues to expect that its current cash, cash equivalents and marketable securities can fund operations through at least the first quarter of 2010. This guidance assumes no milestone payments, additional license fees, reimbursement for development programs and no financing activities.

Conference Call Information

Idenix will hold a conference call and webcast to
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SOURCE Idenix Pharmaceuticals, Inc. Copyright©2009 PR Newswire. All rights reserved

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