In a report published by Oppenheimer, Idenix Pharmaceuticals IDIX IDIX reported 1Q11 results.
Oppenheimer said that the company remains on track to initiate a
12-week ph.IIb study evaluating IDX184 with PEG/RBV in 2H11.
“Based on ph.IIa
results, we see a good probability '184 will show competitive efficacy, but safety
remains a question. Although interim analyses of the ph.IIb trial are planned for
2H11, we believe full, 12-week safety data, expected in early '12, will likely be
necessary to finalize a significant '184 development deal. Based on few '184 data
catalysts, and the risk of a further delay or termination of GSK2248761, we see
limited near-term upside in IDIX. Longer term, we believe the stock could be
attractive, based on '184's potential strategic fit into coming STAT-C HCV combos.
”
Idenix Pharmaceuticals closed yesterday at $4.84.
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