ARTICLE | Finance
Hedging on pan-HCV
Idenix's biggest shareholder doubles down on two-pronged HCV strategy
February 3, 2014 8:00 AM UTC
The Baupost Group is doubling down on Idenix Pharmaceuticals Inc. (NASDAQ:IDIX), providing the HCV company with $106.7 million for drug development and patent litigation.
The hedge fund was Idenix's largest shareholder even before last week's registered direct offering in which it agreed to purchase 16.4 million shares at $6.50 - a 5% discount to the close of $6.87 on Jan. 27...