Going viral

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)...