Idenix Pharmaceuticals (IDIX)

[steveporsche]

Perhaps the market was expecting more in the way of worldwide royalty income from Tyzeka. I know ramp ups take time, especially for a drug of this nature, but the market has been especially punishing lately. According to their most recent 8-k released on 3/6, Tyzeka worldide royalty income can't be much (the stock closed about $1 higher on 3/5 than where it is now):

For the fourth quarter ended December 31, 2007, Idenix reported total revenues of $12.6 million, compared with total revenues of $15.3 million in the fourth quarter of 2006. Total revenues for the fourth quarter of 2007 consisted primarily of reimbursement by Novartis of expenses incurred by Idenix in connection with the development of Tyzeka ® /Sebivo ® , the amortization of up front fees associated with development programs licensed by Novartis, and royalties associated with worldwide sales of
Tyzeka/Sebivo. The $2.7 million reduction in total revenues for the fourth quarter of 2007 as compared to the fourth quarter of 2006 is due primarily to lower development expenses associated with licensed programs and subsequent reimbursement of such expenses by Novartis.


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