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Idenix Pharmaceuticals Reports Third Quarter and Nine Month Financial Results
Date:10/30/2008

(617) 995-9838

IDENIX PHARMACEUTICALS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(IN THOUSANDS, EXCEPT PER SHARE DATA)

(UNAUDITED)

Three Months Ended Nine Months Ended

September 30, September 30,

2008 2007 2008 2007

Revenues:

Collaboration revenue

- related party $2,089 $9,153 $5,568 $52,178

Other revenue 56 1,735 212 3,248

Total revenues 2,145 10,888 5,780 55,426

Operating expenses (1):

Cost of sales 456 277 1,266 514

Research and

development 12,933 18,421 41,938 65,545

Selling, general and

administrative 6,457 18,393 21,428 54,070

Restructuring and

impairment charges ----- 6,439 297 6,439

Total operating

expenses 19,846 43,530 64,929 126,568

Loss from operations (17,701) (32,642) (59,149) (71,142)

Investment income and

other income, net 137 1,718 1,562 5,498

Loss before income

taxes (17,564) (30,924) (57,587) (65,644)

Income tax benefit 673 375 1,330 624

Net loss $(16,891) $(30,549) $(56,257) $(65,020)

Basic and diluted net

loss per share: ($0.30) ($0.54) ($1.00) ($1.16)

Shares used in

calculation of basic

and diluted net loss

per share: 56,454 56,189 56,363 56,162

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SOURCE Idenix Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
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