Idenix Pharmaceuticals, Inc. Proposes Public Offering Of Common Stock

Idenix Pharmaceuticals, Inc. announced that it has commenced an underwritten registered public offering of $150 million of its common stock. All of these shares are being sold by Idenix. J.P. Morgan Securities LLC is acting as sole book-running manager and Leerink Swann LLC is acting as lead manager for the proposed offering. Idenix intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the amount sold to cover over-allotments, if any. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the final size or terms of the offering. 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.