Inhibitex, Inc. (NASDAQ: INHX) surged 142.20% to $23.91 on an unusual volume of 16.71 million shares in the morning hour after Bristol-Myers Squibb plans to buy Inhibitex for $2.5 billion, or $26 a share. The deal represents around 160% premium over Inhibitex’s closing price on Friday. Inhibitex has a hepatitis drug candidate, INX-189, in Phase II development.
Idenix Pharmaceuticals, Inc. (NASDAQ: IDIX) climbed 37.30% to $9.68 on 3.16 million shares in the morning hour after the company announced the initiation of a phase I clinical trial of the Company’s NS5A inhibitor, IDX719. The first part of the study will evaluate safety, pharmacokinetics and food effect of IDX719 in 48 healthy volunteers.
Achillion Pharmaceuticals, Inc. (NASDAQ: ACHN) increased 10.48% to $4. in the morning hour after the company reported new clinical trial results on its portfolio of protease inhibitors including: Phase 2 interim 12-week treatment results with ACH-1625 for the treatment of genotype 1 treatment-naive hepatitis C virus (HCV), exploratory data on ACH-1625 for the treatment of HCV genotype 3, and initial proof-of-concept data for ACH-2684.
Theravance, Inc. (NASDAQ: THRX) plummeted 33.17% to $13.46 in the morning hour after Astellas Pharma and Theravance announced that Astellas has exercised its right to terminate the global License, Development and Commercialization Agreement for VIBATIV(R) (telavancin) for injection, a bactericidal, once-daily lipoglycopeptide antibiotic discovered by Theravance.
IPC The Hospitalist Company, Inc. (NASDAQ: IPCM) plunged 27.71% to $32.99 in the morning hour after the company announced unaudited estimated financial results for the quarter and year ended December 31, 2011. For the full year 2011, the company now estimates net revenues in the range of $455 million to $458 million, compared to its previous guidance of $463 million to $465 million. Net revenues for the fourth quarter ended December 31, 2011 are estimated to be in the range of $115 million to $118 million.
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