Idenix Pharmaceuticals Reports Second Quarter and Six Month Financi...( CAMBRIDGE Mass. July 29 /- Idenix...)

CAMBRIDGE, Mass., July 29 /PRNewswire-FirstCall/ -- Idenix Pharmaceuticals, Inc. (Nasdaq: IDIX), a biopharmaceutical company engaged in the discovery and development of drugs for the treatment of human viral and other infectious diseases, today reported unaudited financial results for the second quarter ended June 30, 2008. At June 30, 2008, Idenix's cash, cash equivalents and marketable securities totaled $80.6 million.

2008 Year-to-Date Business Highlights

-- Idenix has reported positive data from an ongoing phase I/II study of IDX899, a non-nucleoside reverse transcriptase inhibitor (NNRTI) being developed for the treatment of HIV-1. Patients receiving once-daily IDX899 achieved a mean plasma viral load reduction of approximately 1.8 log(10) after seven days of treatment in each of the 800 mg, 400 mg and 200 mg dosing cohorts. Patients receiving placebo had a 0.05 log(10) viral load increase over the same treatment period. No treatment-related serious adverse events were reported for any of the patients receiving IDX899 and no patients discontinued the study. Based on the potent antiviral activity of IDX899 observed to date, the study was recently amended to also evaluate a 100 mg/day dose.

-- Idenix has submitted an investigational new drug (IND) application for IDX184, a once-daily, oral nucleotide prodrug candidate for the treatment of chronic hepatitis C, to the United States Food and Drug Administration (FDA) and has initiated a phase I single dose escalation study in healthy volunteers. IDX184 has demonstrated HCV antiviral activity in both in vitro and in vivo preclinical models.

-- Idenix has continued to make progress in its preclinical HCV discovery effort. Clinical candidates from both its HCV pro
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