Saturday, November 5, 2011

Inhibitex Doubles as Hepatitis C Drug Proves Active in Trial

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By Meg Tirrell - Nov 5, 2011 3:13 AM GMT+0700

Inhibitex Inc. (INHX), the maker of an experimental drug to treat infections associated with the hepatitis C virus, more than doubled as the medicine showed antiviral activity with no serious side effects in a study.

Inhibitex soared $4.58 to $8.54 at 4 p.m. New York time, for the biggest gain since the drugmaker first sold stock to the public in June 2004. The shares of the Alpharetta, Georgia-based company have tripled this year.

INX-189, given at 200 milligrams once a day for a week, was potent and well tolerated in a clinical trial, Inhibitex said today in a statement. That dose had a similar efficacy to a medicine made by Princeton, New Jersey-based Pharmasset Inc. (VRUS), and Inhibitex indicated it may test a higher dose, Robyn Karnauskas, an analyst with Deutsche Bank Securities, wrote in a research note today.

“This could create a near-term catalyst,” Karnauskas said.

To contact the reporter on this story: Meg Tirrell in New York at

To contact the editor responsible for this story: Reg Gale at

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