Associated Press
Ahead of the Bell: Inhibitex rates 'outperform'
By The Associated Press, 08.25.11, 09:23 AM EDT
Inhibitex has a promising potential treatment for the Hepatitis C virus, according to a Baird analyst who started coverage of the biotechnology company with an "outperform" rating.
Thomas J. Russo said in a Thursday morning research note the Alpharetta, Ga., company's molecule labeled INX-189 is a "real value driver" in an important class of treatments. INX-189 is a potential Hepatitis C treatment called a nucleotide polymerase inhibitor in mid-stage drug development. The analyst said these drugs have a "scarcity value" and that compound appears "very much in the game."
Inhibitex ( INHX - news - people ) Inc. does not have any products on the market, and most of its revenue comes from collaborations. It focuses on developing treatments for viral infections, and it also has a potential shingles treatment in late-stage testing.
Hepatitis C is the primary cause of liver transplants in the U.S. and is expected to become a much larger public health problem as aging baby boomers succumb to the disease.
Hepatitis C is an infectious disease that is spread through the blood, including by sharing needles or having sex with an infected person. The disease could also be picked up from blood transfusions before 1992, when testing of the blood supply for the virus began.
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