##### Table of Contents



UNITED STATES SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549
 FORM 10-Q
  þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
AND EXCHANGE ACT OF 1934
 For the quarterly period ended September 30, 2010
 OR
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 For the transition period from  to
 Commission File No. 0-50772
 INHIBITEX, INC.
  Delaware
    
    74-2708737(State or other jurisdiction of
    
    (I.R.S. Employer Identification No.)incorporation or organization)9005 Westside ParkwayAlpharetta, Georgia
    
    30009(Address of principal executive
    
    (Zip Code)offices)
 (678) 746-1100   Not Applicable
 þ o
 o o
  Large Accelerated Filer o
    
    Accelerated Filer o
    
    Non-Accelerated Filer o
    
    Smaller Reporting Company þ
 o þ




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##### 



TABLE OF CONTENTS
 PAGEPART I  FINANCIAL INFORMATIONItem 1. Unaudited Condensed Consolidated Financial StatementsConsolidated Balance Sheets as of September 30, 2010 and December 31, 2009
    
    
    3Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2010 and 2009
    
    
    4Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2010 and 2009
    
    
    5Notes to Unaudited Condensed Consolidated Financial Statements
    
    
    6Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
    
    
    10Item 4T. Controls and Procedures
    
    
    16PART II  OTHER INFORMATIONItem 1A. Risk Factors
    
    
    17Item 6. Exhibits
    
    
    19Signatures
    
    
    20Exhibit Index
    
    
    21EX-31.1 SECTION 302 CERTIFICATION OF THE CEO & CFOEX-32.1 SECTION 906 CERTIFICATION OF THE CEO & CFO
   2




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##### Table of Contents



ITEM 1. FINANCIAL STATEMENTS
 INHIBITEX,
INC.
 
 CONSOLIDATED BALANCE SHEETS
 September 30,
    
    
    December 31,2010
    
    
    2009(unaudited)ASSETSCurrent assets:Cash and cash
equivalents
    
    $
    9,059,783
    
    
    $
    11,290,332Short-term
investments
    
    
    15,117,103
    
    
    
    26,625,496Prepaid expenses and other current
assets
    
    
    580,125
    
    
    
    831,196Accounts
receivable
    
    
    63,797
    
    
    
    61,062Total current
assets
    
    
    24,820,808
    
    
    
    38,808,086Property and equipment,
net
    
    
    1,226,699
    
    
    
    1,621,392Other
assets
    
    
    42,110
    
    
    
    40,290Total
assets
    
    $
    26,089,617
    
    
    $
    40,469,768LIABILITIES AND STOCKHOLDERS EQUITYCurrent liabilities:Accounts
payable
    
    $
    1,656,587
    
    
    $
    1,590,804Accrued
expenses
    
    
    2,102,460
    
    
    
    1,537,637Current portion of notes
payable
    
    
    182,292
    
    
    
    78,125Current portion of capital lease
obligations
    
    
    212,618
    
    
    
    207,100Current portion of deferred
revenue
    
    
    166,667
    
    
    
    191,667Other current
liabilities
    
    
    234,309
    
    
    
    202,531Total current
liabilities
    
    
    4,554,933
    
    
    
    3,807,864Long-term liabilities:Notes payable, net of current
portion
    
    
    364,583
    
    
    
    546,875Capital lease obligations, net of
current portion
    
    
    22,113
    
    
    
    180,792Deferred revenue, net of current
portion
    
    
    
    
    
    
    87,500Other liabilities, net of current
portion
    
    
    927,681
    
    
    
    1,096,629Total long-term
liabilities
    
    
    1,314,377
    
    
    
    1,911,796Total
liabilities
    
    
    5,869,310
    
    
    
    5,719,660Stockholders equity:Preferred stock, $.001 par value;
5,000,000 shares authorized at
September 30, 2010 and December 31,
2009; none issued and
outstanding
    
    
    
    
    
    
    Common stock, $.001 par value;
150,000,000 shares authorized at
September 30, 2010 and December 31,
2009, respectively; 62,280,110 and
61,559,782 shares issued and
outstanding at September 30, 2010 and
December 31, 2009, respectively
    
    
    62,280
    
    
    
    61,560Warrants
    
    
    11,281,056
    
    
    
    12,133,216Accumulated other comprehensive
income
    
    
    6,502
    
    
    
    8,977Additional paid-in
capital
    
    
    269,382,091
    
    
    
    267,432,572Accumulated
deficit
    
    
    (260,511,622
    )
    
    
    (244,886,217
    )Total stockholders
equity
    
    
    20,220,307
    
    
    
    34,750,108Total liabilities and stockholders
equity
    
    $
    26,089,617
    
    
    $
    40,469,768
   3




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INHIBITEX, INC.
 
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (unaudited)
 Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Revenue:License fees and
milestones
    
    $
    37,500
    
    
    $
    37,500
    
    
    $
    824,167
    
    
    $
    112,500Collaborative research
and
development
    
    
    250,000
    
    
    
    250,000
    
    
    
    750,000
    
    
    
    750,000Total revenue
    
    
    287,500
    
    
    
    287,500
    
    
    
    1,574,167
    
    
    
    862,500Operating expense:Research and
development
    
    
    4,700,987
    
    
    
    3,945,464
    
    
    
    14,406,501
    
    
    
    11,123,072General and
administrative
    
    
    877,177
    
    
    
    831,264
    
    
    
    2,860,052
    
    
    
    2,840,108Total operating
expense
    
    
    5,578,164
    
    
    
    4,776,728
    
    
    
    17,266,553
    
    
    
    13,963,180Loss from
operations
    
    
    (5,290,664
    )
    
    
    (4,489,228
    )
    
    
    (15,692,386
    )
    
    
    (13,100,680
    )Other income (expense),
net
    
    
    (1,107
    )
    
    
    1,562
    
    
    
    14,607
    
    
    
    39,634Interest income,
net
    
    
    18,309
    
    
    
    15,929
    
    
    
    52,374
    
    
    
    164,368Net loss
    
    $
    (5,273,462
    )
    
    $
    (4,471,737
    )
    
    $
    (15,625,405
    )
    
    $
    (12,896,678
    )Basic and diluted net
loss per share
    
    $
    (0.08
    )
    
    $
    (0.10
    )
    
    $
    (0.25
    )
    
    $
    (0.30
    )Weighted average shares
used to compute basic
and diluted net loss per
share
    
    
    62,248,265
    
    
    
    43,545,057
    
    
    
    61,884,023
    
    
    
    43,499,678
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INHIBITEX, INC.
 
 CONSOLIDATED STATEMENTS OF CASH FLOWS
 (unaudited)
 Nine Months EndedSeptember 30,2010
    
    
    2009Cash flows from operating activities:Net loss
    
    $
    (15,625,405
    )
    
    $
    (12,896,678
    )Adjustments to reconcile net loss to net
cash used in operating activities:Depreciation and
amortization
    
    
    478,343
    
    
    
    635,547Share-based compensation
    
    
    420,600
    
    
    
    413,123Gain on sale of equipment
    
    
    
    
    
    
    (39,890
    )Amortization of investment premium or
discount
    
    
    381,128
    
    
    
    16,811Changes in operating assets and liabilities:Prepaid expenses and other
assets
    
    
    249,251
    
    
    
    (418,538
    )Accounts receivable
    
    
    (2,735
    )
    
    
    29,115Accounts payable and other
liabilities
    
    
    (71,387
    )
    
    
    57,442Accrued expenses
    
    
    564,823
    
    
    
    617,740Deferred revenue
    
    
    (112,500
    )
    
    
    (112,500
    )Net cash used in operating
activities
    
    
    (13,717,882
    )
    
    
    (11,697,828
    )Cash flows from investing activities:Purchases of property and
equipment
    
    
    (83,650
    )
    
    
    (4,981
    )Proceeds from sale of property and
equipment
    
    
    
    
    
    
    39,890Purchases of investments
    
    
    (17,701,210
    )
    
    
    (15,277,699
    )Proceeds from maturities and sales of
investments
    
    
    28,826,000
    
    
    
    23,890,000Net cash provided by investing
activities
    
    
    11,041,140
    
    
    
    8,647,210Cash flows from financing activities:Payments on promissory notes and capital
leases
    
    
    (231,286
    )
    
    
    (284,105
    )Repurchase of common
stock
    
    
    
    
    
    
    (3,213
    )Proceeds from the issuance of common
stock
    
    
    677,479
    
    
    
    8,248Net cash provided by (used in)
financing activities
    
    
    446,193
    
    
    
    (279,070
    )Decrease in cash and cash
equivalents
    
    
    (2,230,549
    )
    
    
    (3,329,688
    )Cash and cash equivalents at beginning of
period
    
    
    11,290,332
    
    
    
    11,507,137Cash and cash equivalents at end of
period
    
    $
    9,059,783
    
    
    $
    8,177,449Supplemental cash flow information:Interest paid
    
    $
    31,398
    
    
    $
    50,954
   5




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INHIBITEX, INC.
 
 NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 1. Operations
     2. Summary of Significant Accounting Policies
   Recent Accounting Pronouncements.
  
  6




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3. Net Loss Per Share
   Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Net loss
    
    $
    (5,273,462
    )
    
    $
    (4,471,737
    )
    
    $
    (15,625,405
    )
    
    $
    (12,896,678
    )Weighted average common shares outstanding used to
compute basic earnings per share
    
    
    62,248,265
    
    
    
    43,545,057
    
    
    
    61,884,023
    
    
    
    43,499,678Dilutive effect of:Stock options
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Warrants
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Shares used to compute diluted earnings per share
    
    
    62,248,265
    
    
    
    43,545,057
    
    
    
    61,884,023
    
    
    
    43,499,678Basic net loss per share
    
    $
    (0.08
    )
    
    $
    (0.10
    )
    
    $
    (0.25
    )
    
    $
    (0.30
    )Diluted loss per share
    
    $
    (0.08
    )
    
    $
    (0.10
    )
    
    $
    (0.25
    )
    
    $
    (0.30
    )Number of antidilutive stock options excluded from
computation
    
    
    5,593,942
    
    
    
    4,631,736
    
    
    
    5,593,942
    
    
    
    4,631,736Number of antidilutive warrants excluded from
computation
    
    
    13,008,484
    
    
    
    8,000,597
    
    
    
    13,008,484
    
    
    
    8,000,597
 4. Comprehensive Loss
  Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Net loss
    
    $
    (5,273,462
    )
    
    $
    (4,471,737
    )
    
    $
    (15,625,405
    )
    
    $
    (12,896,678
    )Change in net unrealized gains (losses) on
investments
    
    
    8,185
    
    
    
    (14,422
    )
    
    
    (2,475
    )
    
    
    (103,862
    )Comprehensive loss
    
    $
    (5,265,277
    )
    
    $
    (4,486,159
    )
    
    $
    (15,627,880
    )
    
    $
    (13,000,540
    )
 5. Fair Value Measurements
   7




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Quoted prices inactive markets for
    
    
    Significant other
    
    
    Significantidentical assets
    
    
    observable inputs
    
    
    unobservable inputsSeptember 30, 2010
    
    Total
    
    
    (Level 1)
    
    
    (Level 2)
    
    
    (Level 3)Cash equivalents
    
    $
    7,746,485
    
    
    $
    6,496,622
    
    
    $
    1,249,863
    
    
    $
    Short-term investments available-for-sale
    
    
    15,117,103
    
    
    
    
    
    
    
    15,117,103
    
    
    
    Total
    
    $
    22,863,588
    
    
    $
    6,496,622
    
    
    $
    16,366,966
    
    
    $
    
   Unrealized
    
    
    UnrealizedSeptember 30, 2010
    
    At Cost
    
    
    Gains
    
    
    (Losses)
    
    
    At Fair ValueMoney market funds
    
    $
    6,496,622
    
    
    $
    
    
    
    $
    
    
    
    $
    6,496,622Commercial paper
    
    
    10,240,219
    
    
    
    6,341
    
    
    
    
    
    
    
    10,246,560Corporate debt
    
    
    5,619,331
    
    
    
    2,299
    
    
    
    (2,164
    )
    
    
    5,619,466Debt securities of U.S. government
agencies
    
    
    500,914
    
    
    
    26
    
    
    
    
    
    
    
    500,940Total
    
    $
    22,857,086
    
    
    $
    8,666
    
    
    $
    (2,164
    )
    
    $
    22,863,588
 Unrealized
    
    
    UnrealizedDecember 31, 2009
    
    At Cost
    
    
    Gains
    
    
    (Losses)
    
    
    At Fair ValueCertificates of deposit and money market
funds
    
    $
    10,380,463
    
    
    $
    
    
    
    $
    
    
    
    $
    10,380,463Commercial paper
    
    
    9,635,631
    
    
    
    9,145
    
    
    
    
    
    
    
    9,644,776Corporate debt
    
    
    9,183,702
    
    
    
    956
    
    
    
    (5,006
    )
    
    
    9,179,652Debt securities of U.S. government
agencies
    
    
    7,293,200
    
    
    
    5,273
    
    
    
    (1,428
    )
    
    
    7,297,045U.S. Treasury securities
    
    
    503,986
    
    
    
    103
    
    
    
    (66
    )
    
    
    504,023Total
    
    $
    36,996,982
    
    
    $
    15,477
    
    
    $
    (6,500
    )
    
    $
    37,005,959
   8




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6. Research and License Agreements
 Out-licensing Agreements
 Pfizer (Wyeth).
  Staphylococcus aureus (S. aureus)
 7. Stockholders Equity
 Common Stock Warrants.
   9




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ITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
 This Quarterly Report on Form 10-Q contains forward-looking statements. These forward-looking
statements involve known and unknown risks, uncertainties and other factors that may cause actual
results, performance or achievements to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking statements. In some cases,
you can identify forward-looking statements by terms such as may, will, should, could,
would, expect, plan, intend, anticipate, believe, estimate, project, predict,
forecast, potential, likely or possible, as well as the negative of such expressions, and
similar expressions intended to identify forward-looking statements. These forward-looking
statements include, without limitation, statements relating to:
 
    
    The anticipated availability of top-line data in the fourth quarter of 2010 from the ongoing Phase 2 trial of FV-100;
    
    the anticipated availability of top-line data and the expected time to complete the ongoing Phase 1b, multiple
ascending dose (MAD) clinical trial of INX-189;
    
    pharmacokinetic data from the INX-189 Phase 1a clinical trial supporting the potential for once-daily dosing (QD)
and our plans to present detailed results from this trial during a future scientific meeting;
    
    the number of months that our current cash, cash equivalents and short-term investments will allow us to operate;
    
    our future financing requirements, the factors that may influence the timing and amount of these requirements, and
our ability to fund them;
    
    our potential future revenue from collaborative research agreements, partnerships, license agreements, product
related revenue or materials transfer agreements;
    
    the potential of our product candidates to address a number of current therapeutic limitations, such as inadequate
potency, diminishing efficacy due to the emergence of drug-resistant viruses, toxic or adverse side effects, complex
dosing schedules, and inconvenient routes of administration and other unmet needs in their intended indications; and
    
    anticipated future net losses from operations.
 These statements reflect our current views with respect to future events and are based on
assumptions and subject to risks and uncertainties including, without limitation: that we, the FDA,
or an investigational review board might delay, suspend or terminate the clinical development of
FV-100 or INX-189 for lack of safety, manufacturing issues or other clinical reasons; FV-100 not
demonstrating sufficient efficacy in reducing the incidence and severity of shingles-related
symptoms, including acute pain and post herpetic neuralgia, to be clinically relevant or
commercially viable; the results of ongoing or future preclinical studies and clinical trials of
INX-189 not supporting its further development; Pfizer not terminating our license and
collaborative research agreements; our ability to maintain sufficient resources, including
executive management and key employees; our ability to successfully develop current and future
product candidates either in collaboration with a partner or independently and through the
regulatory process; our ongoing or future preclinical studies or clinical trials not demonstrating
an appropriate safety and/or efficacy profile of our product candidates; our ability to secure and
use third-party clinical and preclinical research and data management organizations and third party
manufacturers not fulfilling their contractual obligations or otherwise performing satisfactorily
in the future; our ability to manufacture and maintain sufficient quantities of preclinical and
clinical trial material on hand to complete our preclinical studies or clinical trials on a timely
basis; our ability or that of the clinical investigator to enroll patients in our clinical trials
or on a timely basis; our failure to obtain regulatory approval to market our product candidates;
our ability to protect and maintain our proprietary intellectual property rights from unauthorized
use by others or not infringing on the intellectual property rights of others; our collaborators
failing to fulfill their obligations under our agreements with them in the future; our ability to
attract suitable organizations to collaborate on the development and commercialization of our
product candidates; the condition of the financial equity and debt markets and our ability to raise
sufficient funding in such markets; our ability to manage our current cash reserves as planned;
changes in general economic business or competitive conditions; and other statements contained
elsewhere in this Quarterly Report on Form 10-Q (including the Risk Factors section herein) and
risk factors described in or referred to in greater detail in the Risk Factors section of our
Form 10-K for the year ended December 31, 2009. There may be events in the future that we are
unable to predict accurately, or over which we have no control. You should read this Form 10-Q and
the documents that we reference herein and which been filed or incorporated by reference as
exhibits completely and with the understanding that our actual future results
may be materially different from what we expect. Our business, financial condition, results of
operations, and prospects may change. We may not update these forward-looking statements, even
though our situation may change in the future, unless we have obligations under the federal
securities laws to update and disclose material developments related to previously disclosed
information. We qualify all of the information presented in this Form 10-Q , and particularly our
forward-looking statements, by these cautionary statements.
  10




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Inhibitex® and
MSCRAMM® are registered trademarks of Inhibitex, Inc.
 The following discussion should be read in conjunction with the financial statements and the notes
thereto included in Item 1 of this Quarterly Report on Form 10-Q .
 Overview
   Recent Developments
 FV-100 for Shingles 
 INX-189 for Chronic Hepatitis C 
   11




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Critical Accounting Policies
   
    
    Use of Estimates
    
    Revenue Recognition
    
    Accrued Expenses
    Results of Operations
 Three Months Ended September 30, 2010 and 2009
 Summary.
  Revenue.
  12




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Research and Development Expense.
 September 30,2010
    
    
    2009(In millions)Direct clinical, preclinical,
manufacturing and milestone
expenses
    
    $
    2.8
    
    
    $
    2.0Salaries, benefits and share-based
compensation expense
    
    
    1.0
    
    
    
    1.0Professional fees, supplies and other
expense
    
    
    0.5
    
    
    
    0.4Depreciation and facility related
expenses
    
    
    0.4
    
    
    
    0.5Total research and development
expense
    
    $
    4.7
    
    
    $
    3.9
  General and Administrative Expense.
 September 30,2010
    
    
    2009(In millions)Salaries, benefits and share-based
compensation expense
    
    $
    0.4
    
    
    $
    0.4Professional and legal
fees
    
    
    0.2
    
    
    
    0.2Other expenses
    
    
    0.3
    
    
    
    0.2Total general and administrative
expense
    
    $
    0.9
    
    
    $
    0.8
  Nine Months Ended September 30, 2010 and 2009
 Summary.
  Revenue.
 Research and Development Expense.
 September 30,2010
    
    
    2009(In millions)Direct clinical, preclinical,
manufacturing and milestone
expenses
    
    $
    8.6
    
    
    $
    5.1Salaries, benefits and share-based
compensation expense
    
    
    3.0
    
    
    
    3.0Professional fees, supplies and other
expenses
    
    
    1.5
    
    
    
    1.6Depreciation and facility related
expenses
    
    
    1.3
    
    
    
    1.4Total research and development
expense
    
    $
    14.4
    
    
    $
    11.1
  13




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General and Administrative Expense.
 September 30,2010
    
    
    2009(In millions)Salaries, benefits and share-based
compensation expense
    
    $
    1.1
    
    
    $
    1.2Professional and legal
fees
    
    
    0.9
    
    
    
    0.8Other expenses
    
    
    0.9
    
    
    
    0.8Total general and administrative
expense
    
    $
    2.9
    
    
    $
    2.8
  Liquidity and Capital Resources
       14




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
    
    our development timelines and plans for our product candidates, including any changes in our strategy;
    
    the variability, timing and costs associated with conducting clinical trials, the rate of enrollment in such
clinical trials and the results of these clinical trials:
 
    
    the variability, timing and costs associated with conducting preclinical studies, and the results of these studies;
    
    the cost of formulating and manufacturing preclinical and clinical trial materials to evaluate our product
candidates;
    
    whether we receive regulatory approval to advance the clinical development of our product candidates in a timely
manner, if at all;
    
    the cost to obtain regulatory approvals required to advance the development of our product candidates;
    
    the terms and timing of any collaborative, licensing and other arrangements that we may establish in the future;
    
    future payments we may receive or make under existing or future license or collaboration agreements, if any;
    
    the cost to maintain a corporate infrastructure to support being a publicly-traded company; and
    
    the cost of filing, prosecuting, and enforcing patent and other intellectual property claims.
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ITEM 4T. CONTROLS AND PROCEDURES
 Disclosure Controls and Procedures
  Changes in Internal Control over Financial Reporting
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PART II
OTHER INFORMATION
 
 ITEM 1A. RISK FACTORS
 You should carefully consider the following discussion of risks, together with the other
information contained in this Form 10-Q . The occurrence of any of the following risks could
materially harm our business, our ability to continue to operate our business, our financial
condition, or our ability to raise additional capital in the future, or ever become profitable. In
that event, the market price of our common stock could decline and you could lose part or all of
your investment. The Risk Factors included in the Companys Annual Report on Form 10-K for the year
ended December 31, 2009, as updated by our Form 10-Q for quarters ended March 31, 2010 and June 30,
2010, have not materially changed, except as set forth below.
 Risks Relating to our Development of our Product Candidates
 All of our product candidates are in the early stages of development and their commercial
viability remains subject to future preclinical studies, clinical trials, regulatory approvals and
the risks generally inherent in these activities. If we are unable to successfully advance or
develop our product candidates, our business will be materially harmed.
   
    
    offer therapeutic or other benefits over existing comparable drugs or other product candidates in development;
 
    
    be proven to be safe and effective in current and future preclinical studies or clinical trials;
 
    
    have the desired effects (or may be free from undesirable or unexpected effects);
 
    
    meet applicable regulatory standards;
 
    
    be capable of being formulated and manufactured in commercially suitable quantities and at an acceptable cost; or
 
    
    be successfully commercialized by us or by collaborators.
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In order to develop our product candidates and support our operations beyond 18 months from
September 30, 2010, we expect that we will need to raise additional capital. Such capital may not
be available to us on acceptable terms, if at all, which could materially harm our business and
business prospects.
    
    
    our development timelines and plans for our product candidates, including any changes in our strategy;
    
    the variability, timing and costs associated with conducting clinical trials, the rate of enrollment in such
clinical trials and the results of these clinical trials:
    
    the variability, timing and costs associated with conducting preclinical studies, and the results of these studies;
    
    the cost of formulating and manufacturing preclinical and clinical trial materials to evaluate our product
candidates;
    
    whether we receive regulatory approval to advance the clinical development of our product candidates in a timely
manner, if at all;
    
    the cost to obtain regulatory approvals required to advance the development of our product candidates;
    
    the terms and timing of any collaborative, licensing and other arrangements that we may establish in the future;
    
    future payments we may receive or make under existing or future license or collaboration agreements, if any;
    
    the cost to maintain a corporate infrastructure to support being a publicly-traded company; and
    
    the cost of filing, prosecuting, and enforcing patent and other intellectual property claims.
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ITEM 6. EXHIBITS
  Exhibit No.
    
    Description31.1
    
    
    Section 302 Certification of the Chief Executive Officer and Chief Financial Officer
Required by Rule 13a-14(a) or Rule 15d-14(a) of the Securities Exchange Act of 1934, as
Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 200232.1
    
    
    Section 906 Certifications of the Chief Executive Officer and the Chief Financial Officer
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SIGNATURES
  Date: November 15, 2010
    
    INHIBITEX, INC/s/ Russell H. PlumbRussell H. PlumbPresident, Chief Executive Officer,Chief Financial Officer and Chief Accounting Officer
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EXHIBIT INDEX
 Exhibit No.
    
    Description31.1
    
    
    Section 302 Certification of the Chief Executive Officer and Chief Financial Officer as
Required by Rule 13a-14(a) or Rule 15d-14(a) of the Securities Exchange Act of 1934, as
Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 200232.1
    
    
    Section 906 Certifications of the Chief Executive Officer and the Chief Financial Officer
  21