Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of biotechnology company Idenix Pharmaceuticals
So what: I'm going to assume you'd like the good news first. The FDA today lifted its partial clinical hold on IDX-184, Idenix's lead hepatitis-C drug candidate. Lifting the hold allows Idenix to once again move on with its clinical studies. On the downside, Gilead Sciences released new data last night that GS-7977, its own hepatitis-C drug, when combined with ribavirin, completely eliminated the hep-C virus in genotype 1 hep-C patients after four weeks.
Now what: The logic here is pretty simple. If the combination of GS-7977 and ribavirin are all that's needed, then there's little to no room for Idenix's drug if and when it hits the market. I've vocally stated my distaste for the recent merger activity in this sector with Gilead ponying up $11 billion for Pharmasset and Bristol-Myers Squibb
Craving more input? Start by adding Idenix Pharmaceuticals to your free and personalized watchlist so you can keep track of the latest news with the company.
Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong. Motley Fool newsletter services have recommended buying shares of Gilead Sciences. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
More from The Motley Fool
Biotech M&A: Do We Need a New Driver?
Hepatitis C acquisitions like we've seen from Gilead, Bristol-Myers Squibb, and Merck can't last forever.
3 Stocks That Soared Stupendously This Week
2 of this week's biggest health-care winners scored triple-digit gains with another jumping over 40%. Here's how they did it.
This Week in Biotech: Tulipmania Ensues in the Hepatitis C Sector
Five clinical updates that made waves in the biotech sector this week, as well as the surprising buyout that still has Wall Street abuzz.