) loss of 17 cents per share in the fourth quarter of 2012 was a
penny below the year-ago loss and in-line with the Zacks
The company's fourth quarter 2012 revenues were $0.3 million
up from ($0.7) million in the year-ago period, but below the
Zacks Consensus Estimate of $1 million. Revenues in the
year-earlier period suffered from a charge against revenues worth
Full-year 2012 adjusted net loss came in at 21 cents per
share, narrower than the year-ago loss of 57 cents and the Zacks
Consensus Estimate of a loss of 25 cents per share.
Full-year revenues came in at $69.7 million, significantly
above $6.9 million in 2011. This massive increase was due to the
recognition of $36.1 million as deferred revenues in relation to
the termination of a license agreement with ViiV Healthcare
Full-year revenues were slightly below the Zacks Consensus
Estimate of $70 million.
The Quarter in Detail
Research and development expense during the quarter increased
37.2% year over year to $17.5 million.
General and administrative expense increased 67.4% year over
year to $7.3 million.
In Jan 2013, Idenix inked a collaboration agreement with
Janssen Pharmaceuticals, Inc.− a
Johnson & Johnson
) company - for the development of all-oral direct acting
antiviral (DAA) Hepatitis C Virus (HCV) therapies. The
collaboration covers IDIX719, simeprevin (TMC435) and TMC647055.
The drug-drug interaction study is expected to begin in the first
quarter of 2013.
Idenix will also file an investigational new drug application
(IND) for uridine-based nucleotide analog candidate in the first
half of 2013.
Idenix, a biopharma company, currently carries a Zacks Rank #3
(Hold). Other biopharma stocks like
Array BioPharma Inc.
) currently look more favorable. Cytokinetics carries a Zacks
Rank #1 (Strong Buy), whereas Array carries a Zacks Rank #2
ARRAY BIOPHARMA (ARRY): Free Stock Analysis
CYTOKINETCS INC (CYTK): Free Stock Analysis
IDENIX PHARMA (IDIX): Free Stock Analysis
JOHNSON & JOHNS (JNJ): Free Stock Analysis
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