CAMBRIDGE, Mass., Aug. 5 /PRNewswire-FirstCall/ -- Idenix Pharmaceuticals,
Inc. (Nasdaq: IDIX), a biopharmaceutical company engaged in the discovery and
development of drugs for the treatment of human viral diseases, today
announced the pricing of an underwritten offering of 7,248,936 shares of its
common stock at a price of $3.14 per share. After underwriting discounts and
commissions and estimated offering expenses, the company expects to receive
net proceeds of approximately $21.2 million. All of the shares are being sold
by Idenix. The offering is expected to close on August 10, 2009, subject to
customary closing conditions.
The shares will be issued pursuant to a shelf registration statement on
Form S-3 previously filed with and declared effective by the Securities and
Exchange Commission. Idenix also will file with the Securities and Exchange
Commission a prospectus supplement with respect to the offering. Leerink Swann
LLC is acting as sole book-running manager for the offering.
This announcement shall not constitute an offer to sell or the
solicitation of an offer to buy any securities of Idenix, nor shall there be
any sale of securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction. Copies of the
prospectus supplement and accompanying prospectus may be obtained, when
available, from Leerink Swann LLC, Attention: Syndicate Department, One
Federal Street, 37th Floor, Boston, MA 02110 or by calling toll free, at
1-800-808-7525, Ext. 4814.
About Idenix
Idenix Pharmaceuticals, Inc., headquartered in Cambridge, Massachusetts,
is a biopharmaceutical company engaged in the discovery and development of
drugs for the treatment of human viral diseases. Idenix's current focus is on
the treatment of hepatitis C virus.
Idenix Pharmaceuticals
Contacts:
Media:
Teri Dahlman
(617) 995-9905
Investors:
Amy Sullivan
(617) 995-9838
SOURCE Idenix Pharmaceuticals, Inc.
