Brean Murray Sees Recent Upside in Idenix (IDIX) Related to Possible Gilead (GILD) Settlement in June

A late-day note from Brean Murray's Brian Skorney attributed strength in shares of Idenix Pharma (Nasdaq: IDIX) to a possible settlement with Gilead (Nasdaq: GILD) in June. The stock was up about 4.5 percent prior to the release of Skorney's note, however jumped over the $10 mark to close up more than 8 percent after the comments started getting passed around.

The analyst cited a public filing dated May 22nd and posted suggests "the two parties have recently discussed the possibility of settlement and are planning to have further discussion in June in an attempt to reach a settlement." Skorney believes a settlement could include "read-through to what economic rights, if any, Idenix may be entitled regarding Gilead's lead Hep C drug candidate..."

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