Replies to post #173377 on Biotech Values

[DewDiligence]

IDIX—Even after today’s 8% drop, the share price is well above the $6.50 Baupost just paid in its private placement. It sure helps to buy at a discount!

[DewDiligence]

IDIX (belatedly) PR’s the adverse USPTO decision:

http://finance.yahoo.com/news/idenix-pharmaceuticals-announces-decision-united-220142470.html

The USPTO determined that Idenix is not entitled to priority of invention and judgment was entered in favor of Gilead.

"We intend to challenge this decision in proceedings outside the USPTO. We are confident in our patent portfolio and will continue to defend it vigorously, and this specific matter before the USPTO represents just one part of our overall effort," said Ronald Renaud, President and Chief Executive Officer at Idenix.

This PR was released at 5pm ET.