Leerink Swann Maintains an 'Outperform' on Idenix Pharmaceuticals (IDIX); Addressing USPTO Interference For GILD/ IDIX Patent Claims
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Rating Summary:
1 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 13 | New: 20
Rating Summary:
1 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 13 | New: 20
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Leerink Swann maintains an 'Outperform' on Idenix Pharmaceuticals Inc. (NASDAQ: IDIX).
Analyst, Joshua Schimmer, said, "Gilead (Nasdaq: GILD) (OP-rated) and IDIX are involved in patent interference proceedings initiated by the USPTO which will determine which company invented the disputed genus claim which covers GS-7977. We hosted a conference call with a MEDACorp specialist yesterday to better understand the process and its likely outcome. Based on this call, we believe GILD will likely end up signing a licensing deal resulting in royalties to IDIX..."
"IDIX has a patent application pending ('868) which has a claim that overlaps with one in a patent issued to GILD ('572) which covers GS-7977. IDIX’s application relies on an earlier filing (6/27/03) than GILD (4/21/04) so IDIX is currently the senior party. GILD has an earlier filing date for a provisional patent application (5/30/03) which if deemed the appropriate date, would make GILD the senior party. However IDIX could counter and try to obtain the filing date of 3 additional provisional application dates (5/14/03, 4/28/03, 6/28/02) to leap before GILD and again become the senior party. Post resolution of seniority (which appears to favor IDIX), first-to-invent will be determined; it appears that IDIX has the upper hand for proving this as well."
For an analyst ratings summary and ratings history on Idenix Pharmaceuticals Inc. click here. For more ratings news on Idenix Pharmaceuticals Inc. click here.
Shares of Idenix Pharmaceuticals Inc. closed at $11.18 yesterday.
Analyst, Joshua Schimmer, said, "Gilead (Nasdaq: GILD) (OP-rated) and IDIX are involved in patent interference proceedings initiated by the USPTO which will determine which company invented the disputed genus claim which covers GS-7977. We hosted a conference call with a MEDACorp specialist yesterday to better understand the process and its likely outcome. Based on this call, we believe GILD will likely end up signing a licensing deal resulting in royalties to IDIX..."
"IDIX has a patent application pending ('868) which has a claim that overlaps with one in a patent issued to GILD ('572) which covers GS-7977. IDIX’s application relies on an earlier filing (6/27/03) than GILD (4/21/04) so IDIX is currently the senior party. GILD has an earlier filing date for a provisional patent application (5/30/03) which if deemed the appropriate date, would make GILD the senior party. However IDIX could counter and try to obtain the filing date of 3 additional provisional application dates (5/14/03, 4/28/03, 6/28/02) to leap before GILD and again become the senior party. Post resolution of seniority (which appears to favor IDIX), first-to-invent will be determined; it appears that IDIX has the upper hand for proving this as well."
For an analyst ratings summary and ratings history on Idenix Pharmaceuticals Inc. click here. For more ratings news on Idenix Pharmaceuticals Inc. click here.
Shares of Idenix Pharmaceuticals Inc. closed at $11.18 yesterday.
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