Biotech Values

[DewDiligence]

The real news outside of IDIX's…Monday morning C.C. was the resignation of the NVS-backed director Anthony Rosenberg. NVS failing to appoint another director to the board is a clear no confidence vote for IDIX and suggests NVS is no longer interested in the company.

NVS hasn’t sold a material number of IDIX shares, having maintained a position of ~33M shares for the past several years. However, as IDIX has issued new shares, NVS’ holding has become an ever smaller equity stake (now 22%).