another atc competitor bites the dust

the Idenix nnrti partnered with GSK as GSK2248761 (formerly IDX899)

which was seen as a possible option in a nuke-sparing (no-nrti) combo

has bitten the dust...

"involved four reports of seizures as part of a clinical trial involving treatment-experienced patients"
http://www.natap.org/2011/newsUpdates/021111_04.htm

"Under the collaboration arrangement between Idenix and GSK, Idenix has received $60.5 million in license fees, equity investment and milestone payments to date and is eligible to receive up to $390.0 million in additional milestone payments as well as double-digit tiered royalties on worldwide product sales. "

"Investors believed that the AIDS drug was worth $1 to $2 of the company?s share price before today?s statement"
http://www.businessweek.com/news/2011-02-09/idenix-falls-as-fda-places-hold-on-hiv-drug-releases-another.html

with 75M shares, "the AIDS drug was worth $1 to $2" equates to us$75-150M

for a phase iia hiv drug with safety issues...

so whats a safe, mid-phase III hiv drug worth...

AVX with a $200M cap is 25c a share...
AVX with a $300M cap is 35c a share...