Inhibitex beats by $0.01; provides new topline data on clinical trial of INX-189 (INHX) 3.96 : reports Q3 EPS of ($0.07) vs ($0.08) Cap IQ consensus; revs increased by $1 mln to $1.3 mln vs $0.7 mln consensus. As of September 30, 2011, the Company held $53.7 mln in cash, cash equivalents, short-term and long-term investments. The co also reported top-line safety and antiviral data from the first cohort of its ongoing clinical trial of INX-189. In this study, 200 mg INX-189, dosed once-daily for seven days, continued to demonstrate potent and dose-dependent antiviral activity with a median HCV RNA reduction from baseline of -4.25 log10 IU/mL. Further, 200 mg INX-189 was generally well tolerated, and there were no serious adverse events or dose dependent adverse events observed. The co also reported today that it has initiated a Phase 1 drug/drug interaction study in healthy volunteers of INX-189 and an HCV direct acting antiviral compound.
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