UPDATE: Oppenheimer Maintains Idenix Pharmaceuticals at Perform Following Clinical Hold on IDX19368
Oppenheimer reiterated its Perform rating on Idenix Pharmaceuticals (NASDAQ: IDIX) as the company's second nucleotide is put on clinical hold.
Oppenheimer commented, "As in the case of IDX184, the FDA appears to have CV concerns regarding '368, given the significant safety issues seen with BMY's nuc BMS-986094. Although '368 has yet to even produce clinical safety data, the compound has been revealed to be a guanosine analog like '184/'094 and this is likely the rationale for the FDA's actions. With '368 and '184 under FDA investigation, the viability of both compounds is questionable. NS5a inhibitor IDX719 remains IDIX's only other promising candidate; however, it is in early ph.I development."
Idenix Pharmaceuticals closed at $6.01 on Friday.
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