CAMBRIDGE, Mass., April 8, 2011 /PRNewswire/ -- 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 registered public offering of 18,310,000 shares of its
common stock at a public offering price of $2.80 per share. All of the shares are being sold
by Idenix. The offering is expected to close on April 13, 2011, subject to customary closing
conditions.
J.P. Morgan Securities LLC is acting as sole book-running
manager and underwriter for the offering. Idenix has granted the
underwriter a 30-day option to purchase up to an additional
2,746,500 shares to cover over-allotments, if any.
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 will also file
with the Securities and Exchange Commission a prospectus supplement
with respect to 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 offer or sale of securities in any state or
jurisdiction in which 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 J.P. Morgan Securities LLC via Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by calling toll-free
(866) 803-9204.
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 infections caused by the
hepatitis C virus.
Idenix Pharmaceuticals Contacts:
Kelly Barry (617) 995-9033
(media)
Eric Hoffman (617) 224-4485
(investors)
SOURCE Idenix Pharmaceuticals, Inc.