Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Idenix Pharmaceuticals (NAS: IDIX) have popped today by upwards of 18% after the company reported positive trial data on its hepatitis C drug.
So what: Idenix said a mid-stage trial of its drug candidates IDX184 and IDX719 saw positive results in 89% of patients that completed 12-week treatments. CEO Ron Renaud said that the company is looking forward to initiating interferon-free DAA combination studies in the near term.
Now what: The hepatitis C drug market is huge, so it's not surprising when good news like this boosts the company as much as it has. The market is expected to grow to $15 billion by 2019, which is largely why companies looking to get in on the ground floor have fared relatively well in recent times. If Idenix can grab just a piece of that pie, it will be just fine.
Interested in more info on Idenix Pharmaceuticals? Add it to your watchlist byclicking here.
The article Why Idenix Pharmaceuticals Popped originally appeared on Fool.com.
Fool contributorEvan Niuholds no position in any company mentioned.Click hereto see his holdings and a short bio. The Motley Fool has adisclosure policy. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter servicesfree for 30 days.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.