Dew, I emailed you a copy of Yarons report. Perhaps you could send it to those on your biotech value email list, if there is interest. Here is a quote from said report.
Idenix reported 24-mos data from Tyzeka's ph III GLOBE study in HBV, showing that 18% of pts development viral resistance at 24 mos. This will be an Achilles heel for competitors to exploit. In contrast, BMY's Baraclude and GILD's Hepsera posted 0% and 2% resistance rates, respectively.
If you look at slide 53 in the recent Idix webcast you see that HbeAg Positive patients at 2 years show 17.8% viral resistance per protocol and 21.6% resisitance at 1 log above nadir (similar to NIH workshop 2006 & EMEA 2006). HbeAg neg patients showed 7.3% per protocol and 8.6% at 1 log above nadir, viral resisitance.
Although I don’t follow Yarons rec. I was trying to figure out why Freidman Billings down graded Idix. I do have an account at Bear Stearns and Mark Schorenbaum is the analyst there that covers idix, and was present at the Idix analyst meeting. But so far he has not updated the Idix report, which I find suspicious. Bear Stearns has a banking relationship with Idix, and they usually give a favorable rec. But so far they are quiet?
