Idenix Pharmaceuticals (IDIX) Commences $150 Million Stock Offering

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Idenix Pharmaceuticals, Inc. (Nasdaq: IDIX) commenced an underwritten registered public offering of $150 million of its common stock. All of these shares are being sold by Idenix.

Idenix intends to use the net proceeds from this offering for general corporate purposes, which may include: research and development expenditures relating to combination phase IIb clinical trials of IDX184 with IDX719, proof-of-concept and phase IIa clinical trials with IDX19368 in combination with ribavirin and proof-of-concept clinical trials of one or more nucleoside/nucleotide drug candidates; working capital; capital expenditures; and potential acquisitions of new businesses, technologies or products that Idenix believes complements or expands its business.

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