Biotech Values

[DewDiligence]

IDIX ReadMeFirst

[Updated for IDX899 partnership with GSK.]


What is IDIX’s business all about?
Business description from latest 10K filing
#msg-31943984 IDIX’s drug portfolio
#msg-33722651 Link to 11/20/08 Needham webcast
#msg-33247964 Link to 3Q08 conference call
#msg-29979703 Tidbits from June 2008 Needham webcast
#msg-26915744 Addressable markets for antiviral drugs


Valuation and finances
#msg-35393182 Cash balance is about $75M
#msg-33234317 3Q08 financial results
#msg-35242833 Table of recent biotech buyouts


News flow
#msg-35392447 2009 clinical goals


Officers, directors, and major shareholders
#msg-33971771 Composition of Board of Directors
Capsule résumés of executive officers (click on a name)
#msg-33807169 Largest shareholders
#msg-33807081 Latest NVS “true up” purchase
#msg-33625817 NVS’ cost basis
#msg-29157548 Standstill agreement with NVS has expired
#msg-33972221 Current insider shareholdings
#msg-32238060 Recent insider transactions


HCV program
#msg-35392447 2009 clinical goals
#msg-26915921 Why IDX184 is better than NM283
#msg-34771363 Nucleoside vs nucleotide
#msg-34763865 IDX184 begins phase-1/2 monotherapy study
#msg-28715477 IDX184 preclinical data from EASL
#msg-31043481 Introducing IDX136, IDX316, and IDX375
#msg-34334563 Blurb on IDX375 from hivandhepatitis.com
#msg-26915744 HCV addressable market
#msg-34694166 US prevalence of genotypes 1a and 1b
#msg-29018192 Factoids re US patient pool
#msg-30190435 Devastating risk of undertreating HCV
#msg-34770929 HCV: Most Likely to Succeed (IMHO)
#msg-34772664 Role of interferon in future combination therapy
#msg-34677952 Comments on the non-nuke “class”


HIV program: Economic rationale
#msg-35391933 IDIX inks worldwide partnership with GSK
#msg-26915314 IDX899 seeks to supersede Sustiva
#msg-27344078 Economics of the first-line setting
#msg-35109525 Sustiva sells $1.2B/yr
#msg-31175781 HIV incidence is higher than previously thought
#msg-33898893 Half of untreated US carriers are in 350-500 CD4 range
#msg-35137606 HIV market size and share (from GILD CC)
#msg-31419107 Increased HIV screening will expand market
#msg-33124429 New guidelines to recommend earlier treatment


HIV program: IDX899 clinical rationale
#msg-29959114 7-day monotherapy data (200-800mg)
#msg-31925486 7-day monotherapy data (100mg)
#msg-31944395 7-day monotherapy data (viral-load chart)
#msg-24329960 IDX899 has no cross-resistance to Sustiva
#msg-29985830 Design of a late-stage HIV trial


HIV program: Competition
#msg-32355170 HIV market overview (detailed)
#msg-24673329 HIV market overview (for dummies)
#msg-26643515 Intelence 48w data in NNRTI-refractory HIV
#msg-30789106 TMC278 enters phase-3
#msg-31354706 TMC278 phase-2b data
#msg-33138650 RDEA806 advances to phase-2b
#msg-33921071 Revealing tidbits from RDEA’s PJ webcast
#msg-26610262 Pfizer’s UK 453,061
#msg-23282517 Miscellaneous early-stage NNRTI’s
#msg-33123339 Isentress bests Sustiva in 1st-line setting
#msg-35131829 Elvitegravir/Quadro to enter the 1st-line setting
#msg-35136159 Musings on Elvitegravir competitive threat


HBV program
#msg-32683976 Estimated royalty income from NVS
#msg-23785846 Status of Sebivo launch in EU
#msg-23434932 Treating asymptomatic e- patients will boost market
#msg-11099728 US Asian immigrants largely untreated
#msg-32945811 Viread alters competitive landscape (1)
#msg-33257652 Viread alters competitive landscape (2)
#msg-33901499 Musings on HBV combination therapy


Reference links
http://www.idenix.com/hiv/about
http://www.aidsmeds.com/list.shtml
http://www.idenix.com/hepc/about
http://www.hcvdrugs.com/
http://www.hivandhepatitis.com
http://www.cdc.gov/ncidod/diseases/hepatitis/b/fact.htm
http://www.who.int/mediacentre/factsheets/fs204/en
http://www.idenix.com/about/media/Glossary_of_terms.pdf