June 25, 2013 (Shareholders Foundation) - An investigation on behalf of investors of Idenix Pharmaceuticals Inc (NASDAQ:IDIX) shares over potential securities laws violations by Idenix Pharmaceuticals and certain of its directors and officers in connection certain financial statements was announced .

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Idenix Pharmaceuticals Inc (NASDAQ:IDIX) concerning whether a series of statements by Idenix Pharmaceuticals regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Idenix Pharmaceuticals Inc reported that its annual Total Revenue rose from $6.95 million in 2011 to $69.66 million in 2012 and that its respective Net Loss declined from $51.98 million to $32.40 million.

Shares of Idenix Pharmaceuticals Inc (NASDAQ:IDIX) grew from $2.80 per share in March 2011 to as high as $14.42 in 2012

Then on June 20, 2013, Idenix Pharmaceuticals, Inc. announced that Idenix Pharmaceuticals, Inc. has received verbal communication from the U.S. Food and Drug Administration (FDA) requesting additional preclinical safety information for IDX20963, Idenix's lead uridine nucleotide prodrug candidate.
Idenix Pharmaceuticals, Inc. said that the initiation of clinical trials for IDX20963 is on hold and that Idenix Pharmaceuticals, Inc. must provide a satisfactory response to the FDA before clinical trials can begin in the United States.Idenix Pharmaceuticals, Inc. said that as a result, it anticipates a delay in the initiation of the clinical program for IDX20963 while it responds to the FDA's comments.

Shares of Idenix Pharmaceuticals, Inc. declined from $5.39 per share on June 18, 2013, to $3.37 per share on June 21, 2013.