As of Feb. 9, 2013, Guru
, legendary value investor of The Baupost Group, added 49.69% to
his Idenix Pharmaceuticals Inc. (
) mega position currently at 24,740,200 shares. The current share
price is $3.54 with a change from average down 28%. Klarman first
bought a new IDIX holding of 1,255,700 shares, in the quarter
ending June 30, 2011.
With operations in the U.S. and Europe, Idenix Pharmaceuticals
develops drugs for the treatment of human viral diseases,
focusing on the treatment of hepatitis B and hepatitis C, called
HCV, the cause of liver disease. The company's product pipeline
shows it is currently developing "inhibitors" to inhibit HCV
replication and to treat HIV/AIDS.
The biopharmaceutical company has a market cap of $474.2 million
and lists a P/E of 0, a P/B of 2.2 and P/S of 6.0. The company
reported revenues of $69.7 million for the full-year 2012,
compared to revenues of $7 million a year prior.
's holding history:
Idenix Pharmaceuticals Inc. competes in the HCV market with
numerous pharmaceutical giants including Abbott Laboratories,
Merck & Co. Inc. and Bristol-Myers Squibb Company, to name a
With the FDA's new designation of a "breakthrough" product
category, new drugs and experimental medicines are subject to and
can win approval after just a single round of testing instead of
the standard three. The FDA defines a breakthrough drug as one
that may offer important new benefits for patients with serious
or life-threatening disease who are especially in need of new
safe and effective treatments.
The new "breakthrough" designation will help Idenix
Pharmaceuticals Inc. and other drug makers reduce costs and speed
up the new drug approval process. Time-to-market is everything
for the company that has a cure for autoimmune diseases. With so
much red tape, and now possibly less red tape from the FDA, it's
hard to say when Idenix will have a new drug ready for market.
See the company's 10-year financials.
Answering ongoing interference regarding one of its patents by
Gilead Pharmassett LLC, concerning compounds useful in the
treatment of hepatitis C virus, Idenix released this statement:
"Idenix does not believe that the patent application at issue in
the interference is relevant to any of the compounds currently
under development, including IDX719, its NS5A inhibitor which is
expected to begin phase II studies in the first half of 2013, or
its uridine nucleoside for which the Company expects to file an
investigational new drug application in the first half of 2013."
See a breakout of
Seth Klarman's recent trades
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