Idenix Pharmaceuticals, a developer of antiviral drugs based in Cambridge, MA, has seen the value of its stock plunge after it announced today that the FDA put two of its drugs for the liver disease hepatitis C on clinical hold. In testing a combination treatment of the two drugs IDX184 and IDX320 in healthy volunteers, the company (NASDAQ:[[ticker:IDIX]]) found elevated liver toxicity in three people who received both drugs. Those cases prompted the FDA to notify Idenix on September 3 that the drugs were put on clinical hold, which is an order the agency makes to suspend or delay clinical studies of certain drugs. The firm’s stock was down 48.08 percent to $3.11 per share as of 1:21 pm Eastern time.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
View all posts by Ryan McBride
