BioCentury on BioBusiness, Strategy
How Inhibitex switch to antivirals turned penny stock into $2.5B takeout by BMS
Going viral
By Michael Flanagan
Senior Writer
Published on Monday, January 16, 2012
Inhibitex
Inc.'s decision to swap antibacterials for antivirals five years ago
transformed the company from an invisible penny stock into a $2.5 billion takeout
by Bristol-Myers
Squibb Co. as the pharma looks to compete in the all-oral HCV cocktail
arena.
Inhibitex completed its $38.7
million IPO in June 2004 with a post-money valuation of $122.5 million based
largely on expectations for its portfolio of antibodies against microbial
surface components recognizing adhesive matrix molecules (MSCRAMM).
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