Biotech firm Idenix Pharmaceuticals (UNKNOWN:IDIX.DL) announced Monday that it will not continue developing two of its pipeline drugs: hepatitis C therapy IDX184, which was in phase 2B clinical trial, and another HCV nucleotide polymerase inhibitor, IDX19368.

The FDA put IDX184 on hold in August of last year -- and placed IDX 19368 on clinical hold -- after poor results from a phase 2 trial from competitor Brystol-Myers Squibb's BMS-986094, which encountered "cardiac adverse events," according to Idenix's release. Idenix President and CEO Ron Renaud commented on the company's direction following the decision, saying in the release that it would continue to "maintain our strong presence in developing nucleotide polymerase inhibitors for HCV based on our broad discovery platform."

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