Boston, MA 04/05/2013 (wallstreetpr) – Idenix Pharmaceuticals Inc(NASDAQ:IDIX) on May 30, 2002 is a bio-pharmaceutical company, chiefly engaged in the discovery and development of drugs for the treatment of human viral diseases. At present the Company’s primary research and development is focused on the treatment of patients with hepatitis C virus (HCV). In June 2012, the Company completed a three-day proof-of-concept study designed to evaluate 64 treatment-naive HCV genotype 1, 2, 3 or 4-infected patients. Of late the FDA granted Fast Track designation for IDX719. On January 25, 2013, the Company has entered into a non-exclusive collaboration agreement with other pharmaceutical firms for the clinical evaluation of all oral DAA HCV combination therapies.
Idenix Pharmaceuticals Inc (NASDAQ:IDIX) is currently trading at $3.51, down by 4.36% With a total trading volume of around $491M, the shares of the company are regularly traded on the NASDAQ. A study of the last year’s quoted stocks reveals that the price ranged between $ 3.21 to as high as $ 11.30, with an average daily trading of 1.77 million shares.
Despite the presence of several pharmaceutical giants on NASDAQ, the prospect of Idenix Pharmaceuticals is bright. Of late, trading analysis reports clearly indicate that investors have shown a great dependence on the company, despite the gross negative trend in the money market in the holistic view of the present macro economic situation. This has obviously been due to the aggressive expansion strategy of the Idenix Pharmaceuticals in recent times. Its latest research in the field of treatment of highly incurable diseases like HIV, Hepatitis B, and related viral diseases has tremendous marketing potential.
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