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<TITLE>FORM S-8</TITLE>
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<P align="center" style="font-size: 10pt"><B>As filed with the Securities and Exchange Commission on June&nbsp;14, 2004</B>



<P align="right" style="font-size: 10pt"><B>Registration No.&nbsp;333-</B>

<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM S-8</B>


<P align="center" style="font-size: 10pt"><B>REGISTRATION STATEMENT</B>



<P align="center" style="font-size: 10pt"><B>UNDER</B>



<P align="center" style="font-size: 10pt"><B>THE SECURITIES ACT OF 1933</B>


<P align="center" style="font-size: 24pt"><B>INHIBITEX, INC.</B>


<P align="center" style="font-size: 10pt">(Exact Name of Registrant as Specified in Its Charter)


<DIV align="center">
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>74-2708737</B></TD>
</TR>

<TR style="font-size: 1px">
    <TD align="center" valign="top">
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><HR size="1" noshade>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or Other Jurisdiction of Incorporation or Organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer Identification No.)</TD>
</TR>

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</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><B>1165 Sanctuary Parkway<BR>
Suite&nbsp;400<BR>
Alpharetta, GA 30004</B>



<P align="center" style="font-size: 10pt">(Address of Principal Executive Offices including Zip Code)



<P align="center" style="font-size: 10pt"><B>Inhibitex, Inc. 2004 Stock Incentive Plan<BR>
Inhibitex, Inc. 2004 Employee Stock Purchase Plan<BR>
Inhibitex, Inc. 2002 Non-Employee Directors Stock Option Plan<BR>
Inhibitex, Inc. Amended and Restated 1998 Equity Ownership Plan<BR>
Stock Option Agreement with Timothy J. Foster</B>



<P align="center" style="font-size: 10pt">(Full Title of the Plan)



<P align="center" style="font-size: 10pt"><B>WILLIAM D. JOHNSTON, Ph.D.<BR>
President and Chief Executive Officer<BR>
Inhibitex, Inc.<BR>
1165 Sanctuary Parkway<BR>
Suite&nbsp;400<BR>
Alpharetta, GA 30004<BR>
(678)&nbsp;746-1100</B>



<P align="center" style="font-size: 10pt">(Name and Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent for Service)



<P align="center" style="font-size: 10pt"><HR align="center" size="1" noshade width="100%">


<DIV align="center" style="font-size: 10pt"><B>Copy to:</B></DIV>


<DIV align="center" style="font-size: 10pt"><B>DAVID S. ROSENTHAL, ESQ.</B></DIV>


<DIV align="center" style="font-size: 10pt"><B>Swidler Berlin Shereff Friedman, LLP</B></DIV>


<DIV align="center" style="font-size: 10pt"><B>The Chrysler Building</B></DIV>


<DIV align="center" style="font-size: 10pt"><B>405 Lexington Avenue</B></DIV>


<DIV align="center" style="font-size: 10pt"><B>New York, NY 10174</B></DIV>


<DIV align="center" style="font-size: 10pt"><B>(212)&nbsp;973-0111</B></DIV>




<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P align="center" style="font-size: 10pt"><B>CALCULATION OF REGISTRATION FEE</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

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    <TD width="27%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Title of Each Class</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed Maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed Maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>of Securities To Be</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>to be</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Offering Price</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Aggregate Offering</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Registration</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Registered</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Registered(1)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Per Share</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Price</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Fee</B></TD>
</TR>


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<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Common Stock, $0.001
par value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">1,404,058 shares (2)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">7.025</TD>
    <TD nowrap>(3)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">9,863,507</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,249.71</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Common Stock, $0.001
par value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">1,006,025 shares (4)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">2.04</TD>
    <TD nowrap>(5)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">2,052,291</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">260.03</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Common Stock, $0.001
par value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">210,084 shares (6)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">7.025</TD>
    <TD nowrap>(3)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,475,840</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">186.99</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Common Stock, $0.001
par value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">66,804 shares (7)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">1.90</TD>
    <TD nowrap>(8)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">126,928</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">16.08</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Common Stock, $0.001
par value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">195,077 shares (9)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">0.45</TD>
    <TD nowrap>(10)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">87,785</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">11.12</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Common Stock, $0.001
par value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">2,207 shares (11)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">0.36</TD>
    <TD nowrap>(12)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">795</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0.10</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Total</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">2,884,255 shares</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">13,607,146</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,724.03</TD>
    <TD>&nbsp;</TD>
</TR>


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</DIV>




<P>

<HR size="1" width="18%" align="left" noshade>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="right">(1)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Pursuant to Rule&nbsp;416(a), this Registration Statement shall also cover any additional shares of the Registrant&#146;s common stock, par
value $0.001 per share (the &#147;Common Stock&#148;), that become issuable under any of the plans by reason of any stock dividend, stock
split, recapitalization or other similar transaction effected without receipt of consideration that increases the number of
outstanding shares of Common Stock</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="right">(2)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Represents 1,404,058 shares of Common Stock available for future grants under the Inhibitex, Inc. 2004 Stock Incentive Plan.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="right">(3)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">This estimate is made pursuant to Rule 457(h) solely for purposes of calculating the registration fee, and is based on the average
($7.025) of the high ($7.05) and low ($7.00) prices for the Registrant&#146;s Common Stock reported by the Nasdaq National Market on June
9, 2004.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="right">(4)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Represents shares reserved for issuance upon the exercise of outstanding options granted under the Inhibitex, Inc. 2004 Stock
Incentive Plan.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="right">(5)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">This estimate is made pursuant to Rule 457(h) solely for purposes of calculating the registration fee, and is equal to the weighted
average exercise price of these outstanding options granted under the 2004 Stock Incentive Plan.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="right">(6)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Represents shares initially available for future grants under the Inhibitex, Inc. Employee Stock Purchase Plan</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="right">(7)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Represents shares reserved for issuance upon the exercise of outstanding options granted under the Inhibitex, Inc. 2002 Non-Employee
Directors Stock Option Plan (the &#147;2002 Plan&#148;).</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="right">(8)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">This estimate is made pursuant to Rule 457(h) solely for purposes of calculating the registration fee, and is equal to the weighted
average exercise price of these outstanding options granted under the 2002 Plan.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="right">(9)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Represents shares reserved for issuance upon the exercise of outstanding options granted under the Inhibitex, Inc. Amended and
Restated 1998 Equity Ownership Plan (the &#147;1998 Plan&#148;).</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="right">(10)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">This estimate is made pursuant to Rule 457(h) solely for purposes of calculating the registration fee, and is equal to the weighted
average exercise price of these outstanding options granted under the 1998 Plan.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="right">(11)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Represents shares reserved for issuance upon the exercise of outstanding options granted to Timothy J. Foster.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="right">(12)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">This estimate is made pursuant to Rule 457(h) solely for purposes of calculating the registration fee, and is equal to the exercise
price of these outstanding options.</TD>
</TR>

</TABLE>




<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<!-- link1 "PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT" -->

<P align="center" style="font-size: 10pt"><B>PART II</B>



<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>


<!-- link2 "ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE." -->

<P align="left" style="font-size: 10pt"><B>ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE.</B>

<P align="left" style="font-size: 10pt">The following documents previously filed by the Company, with the Securities
and Exchange Commission pursuant to the Act or the Securities Exchange Act of
1934, as amended (the &#147;Exchange Act&#148;), are incorporated herein by reference:



<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company&#146;s Prospectus filed on June&nbsp;3, 2004 pursuant to Rule 424(b)
under the Act; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of the Company&#146;s common stock, par value $0.001 per
share, contained in the Company&#146;s Registration Statement on Form 8-A filed
under Section&nbsp;12 of the Exchange Act, including any amendment or report
filed for the purpose of updating such description.</TD>
</TR>

</TABLE>

<P align="left" style="font-size: 10pt">All documents subsequently filed by the Company pursuant to Sections&nbsp;13(a),
13(c), 14 or 15(d) of the Exchange Act, prior to the filing of a post-effective
amendment which indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold, shall be deemed to be
incorporated by reference in this registration statement and to be a part
hereof from the date of the filing of such documents. Any statement contained
in a document incorporated or deemed to be incorporated by reference herein
shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement contained herein or in any other
subsequently filed document which also is or is deemed to be incorporated by
reference herein modifies or supersedes such statement. Any such statement so
modified or superseded shall not be deemed, except as so modified or
superseded, to constitute a part of this Registration Statement.


<!-- link2 "ITEM 4. DESCRIPTION OF THE SECURITIES." -->

<P align="left" style="font-size: 10pt"><B>ITEM 4. DESCRIPTION OF THE SECURITIES.</B>

<P align="left" style="font-size: 10pt">Not Applicable


<!-- link2 "ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL." -->

<P align="left" style="font-size: 10pt"><B>ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.</B>

<P align="left" style="font-size: 10pt">Not Applicable


<!-- link2 "ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS." -->

<P align="left" style="font-size: 10pt"><B>ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.</B>

<P align="left" style="font-size: 10pt">Section&nbsp;145 of the General Corporation Law of the State of Delaware permits a
corporation, under specified circumstances, to indemnify its directors,
officers, employees or agents against expenses (including attorney&#146;s fees),
judgments, fines and amounts paid in settlements actually and reasonably
incurred by them in connection with any action, suit or proceeding brought by
third parties by reason of the fact that they were or are directors, officers,
employees or agents of the corporation, if such directors, officers, employees
or agents acted in good faith and in a manner they reasonably believed to be in
or not opposed to the best interests of the corporation and, with respect to
any criminal action or proceeding, had no reason to believe their conduct was
unlawful. In a derivative action, i.e., one by or in the right of the
corporation, indemnification may be made only for expenses actually or
reasonably incurred by directors, officers, employees or agents in connection
with the defense or settlement of an action or suit, and only with respect to a
matter as to which they shall have acted in good faith and in a manner they
reasonably believed to be in or not opposed to the best interests of the
corporation, except that no indemnification shall be made if such person shall
have been adjudged liable to the corporation, unless and only to the extent
that the court in which the action or suit was brought shall determine upon
application that the defendant directors, officers, employees or agents are
fairly and reasonably entitled to indemnify for such expenses despite such
adjudication of liability.


<P align="left" style="font-size: 10pt">Our amended and restated certificate of incorporation provides that we shall
indemnify our directors, officers and employees (and those serving at our
request as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise or as a trustee or
administrator under an employee benefit plan) against all expenses (including
attorney&#146;s fees), liability and loss in any action, suit or proceeding arising
out of his or her status as a director, officer, employee or agent or
activities in any of those capacities. We shall pay expenses incurred by a
director, officer, employee or agent in defending an action, suit or
proceeding, or appearing as a witness at a time when he or she has not been
named as a defendant or a respondent, in advance of the final disposition of
the action, suit or proceeding upon receipt of an undertaking by or on behalf
of the director, officer, employee or agent to repay the amount if it shall
ultimately be determined that he or she is not entitled to be indemnified by
us.




<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P align="left" style="font-size: 10pt">We have entered into separate, but identical, indemnity agreements with each of
our directors and executive officers and we expect to enter into similar
indemnity agreements with persons who become directors or executive officers in
the future. These indemnity agreements provide that we will indemnify our
directors or executive officers, or the indemnitees, against any amounts that
he or she becomes legally obligated to pay in connection with any claim against
him or her based upon any act, omission, neglect or breach of duty that he or
she may commit, omit or suffer while acting in his or her capacity as a
director and/or officer of Inhibitex; provided that such claim: (i)&nbsp;is not
based upon the indemnitee&#146;s gaining any personal profit or advantage to which
he or she is not legally entitled; (ii)&nbsp;is not for any accounting of profits
made from the purchase or sale by the indemnitee of our securities within the
meaning of Section&nbsp;16 (b)&nbsp;of the Securities Exchange Act of 1934, as amended,
or similar provisions of any state law; and (iii)&nbsp;is not based upon the
indemnitee&#146;s knowingly fraudulent, deliberately dishonest or willful
misconduct. The indemnity agreements also provide that all costs and expenses
incurred by the indemnitee in defending or investigating any such claim shall
be paid by us in advance of the final disposition thereof unless a majority of
our directors who are not parties to the action, independent legal counsel in a
written opinion, our stockholders or a court of competent jurisdiction in a
final, unappealable adjudication determine that: (i)&nbsp;the indemnitee did not act
in good faith and in a manner that he or she reasonably believed to be in or
not opposed to our best interests or (ii)&nbsp;in the case of any criminal action or
proceeding, the indemnitee had reasonable cause to believe his or her conduct
was unlawful. Each indemnitee has undertaken to repay us for any costs or
expenses so advanced if it shall ultimately be determined by a court of
competent jurisdiction in a final, nonappealable adjudication that he or she is
not entitled to indemnification under the indemnity agreements.


<P align="left" style="font-size: 10pt">We also carry liability insurance covering each of our directors and officers.


<P align="left" style="font-size: 10pt">Our amended and restated certificate of incorporation states that our directors
will not have personal liability for monetary damages for any breach of
fiduciary duty as a director, except for liability (i)&nbsp;for any breach of the
director&#146;s duty of loyalty to us or our stockholders, (ii)&nbsp;for acts or
omissions not in good faith or which involve intentional misconduct or a
knowing violation of law, (iii)&nbsp;under Section&nbsp;174 of the General Corporation
Law of the State of Delaware, which makes directors liable for unlawful
dividends or unlawful stock repurchases or redemptions, or (iv)&nbsp;for any
transaction from which the director derived an improper personal benefit.


<!-- link2 "ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED." -->

<P align="left" style="font-size: 10pt"><B>ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.</B>

<P align="left" style="font-size: 10pt">Not Applicable


<!-- link2 "ITEM 8. EXHIBITS." -->

<P align="left" style="font-size: 10pt"><B>ITEM 8. EXHIBITS.</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following exhibits are filed as part of this registration statement.


<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">4.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Inhibitex, Inc. Amended and Restated 1998 Equity Ownership Plan
(Incorporated by reference to Exhibit&nbsp;10.1 of the Registration Statement
on Form S-1 (Reg. No.&nbsp;333-113243) filed with the SEC on March&nbsp;3, 2004.)</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">4.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Inhibitex, Inc. 2004 Stock Incentive Plan (Incorporated by reference to
Exhibit&nbsp;10.2 of the Registration Statement on Form S-1 (Reg. No.
333-113243) filed with the SEC on May&nbsp;6, 2004).</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">4.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Inhibitex, Inc. 2002 Non-Employee Directors Stock Option Plan
(Incorporated by reference to Exhibit&nbsp;10.3 of the Registration Statement
on Form S-1 (Reg. No.&nbsp;333-113243) filed with the SEC on March&nbsp;3, 2004.)</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">4.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Inhibitex, Inc. 2004 Employee Stock Purchase Plan (Incorporated by
reference to Exhibit&nbsp;10.4 of the Registration Statement on Form S-1 (Reg.
No.&nbsp;333-113243) filed with the SEC on March&nbsp;3, 2004.)</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">4.5</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Stock Option Agreement with Timothy J. Foster.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">5.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Opinion of Swidler Berlin Shereff Friedman, LLP.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">23.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Consent of Ernst &#038; Young LLP.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">23.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Consent of Swidler Berlin Shereff Friedman, LLP (included in Exhibit&nbsp;5.1).</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">24.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Powers of Attorney (included on signature page).</TD>
</TR>

</TABLE>

<!-- link2 "ITEM 9. UNDERTAKINGS." -->

<P align="left" style="font-size: 10pt"><B>ITEM 9. UNDERTAKINGS.</B>


<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned registrant hereby undertakes:</TD>
</TR>

</TABLE>


<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To file, during any period in which offers or sales are being
made, a post-effective amendment to this registration statement:</TD>
</TR>

</TABLE>


<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To include any prospectus required by Section
10(a)(3) of the Securities Act of 1933, as amended;</TD>
</TR>

</TABLE>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To reflect in the prospectus any facts or events
arising after the effective date of the registration statement
(or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental
change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or
decrease in volume of securities offered (if the total dollar
value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form
of prospectus filed with the Commission pursuant to Rule
424(b) if, in the aggregate, the changes in volume and price
represent no more than 20&nbsp;percent change in the maximum
aggregate offering price set forth in the &#147;Calculation of
Registration Fee&#148; table in the effective registration
statement;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To include any material information with respect
to the plan of distribution not previously disclosed in the
registration statement or any material change to such
information in the registration statement;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>provided, however, that paragraphs (a)(l)(i) and
(a)(1)(ii) do not apply if the registration
statement is on Form S-3, Form S-8 or Form F-3,
and the information required to be included in a
post-effective amendment by those paragraphs is
contained in periodic reports filed with or
furnished to the Commission by the registrant
pursuant to Section&nbsp;13 or Section 15(d) of the
Securities Exchange Act of 1934 that are
incorporated by reference in this registration
statement.</TD>
</TR>

</TABLE>


<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be
deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold
at the termination of the offering.</TD>
</TR>

</TABLE>


<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned registrant hereby undertakes that, for the purposes of
determining any liability under the Securities Act of 1933, each filing of
the registrant&#146;s annual report pursuant to Section 13(a) or 15(d) of the
Securities Exchange Act of 1934 (and, where applicable, each filing of an
employee benefit plan&#146;s annual report pursuant to Section 15(d) of the
Securities Exchange Act of 1934) that is incorporated by reference in this
registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide
offering thereof.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Insofar as indemnification for liabilities arising under the Securities
Act of 1933 may be permitted to directors, officers and controlling
persons of the registrant pursuant to the foregoing provisions, or
otherwise, the registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public
policy as expressed in the Act and is, therefore, unenforceable. In the
event that a claim for indemnification against such liabilities (other
than the payment by the registrant of expenses incurred or paid by a
director, officer or controlling person of the registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities
being registered, the registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent, submit to a
court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.</TD>
</TR>

</TABLE>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "SIGNATURES" -->

<P align="center" style="font-size: 10pt">SIGNATURES


<P align="left" style="font-size: 10pt">Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all the
requirements for filing on Form S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, hereunto duly
authorized, in the City of Alpharetta, Georgia, on June&nbsp;14, 2004.


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">INHIBITEX, INC.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ William D. Johnston, Ph.D.</TD>
</TR>

<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><HR size="1" noshade>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">William D. Johnston, Ph.D.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Executive Officer, President and
Director</TD>
</TR>


<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt">KNOW ALL MEN BY THESE PRESENTS, that each of the undersigned whose signature
appears below constitutes and appoints William D. Johnston and Russell H.
Plumb, his true and lawful attorneys-in-fact, with full power of substitution
and resubstitution for him and on his behalf, and in his name, place and stead,
in any and all capacities to execute and sign any and all amendments or
post-effective amendments to this registration statement, and to file the same,
with all exhibits thereto, and other documents in connection therewith, with
the Securities and Exchange Commission, hereby ratifying and confirming all
that said attorneys-in-fact or any of them or their or his substitute or
substitutes, may lawfully do or cause to be done by virtue hereof and the
Registrant hereby confers like authority on its behalf.


<P align="left" style="font-size: 10pt">Pursuant to the requirements of the Securities Act of 1933, this registration
statement has been signed below by the following persons in the capacity and on
the dates indicated.


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="41%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="42%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>SIGNATURE</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>TITLE</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>DATE</B><HR size="1" noshade></TD>
</TR>


<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" nowrap valign="top">/s/ William D. Johnston, Ph.D.<BR>
<HR size="1" noshade>
William D. Johnston, Ph.D.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
President, Chief Executive Officer and<BR>
Director<BR>
(Principal Executive Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 14, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Russell H. Plumb<BR>
<HR size="1" noshade>
Russell H. Plumb</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Chief Financial Officer (Principal<BR>
Financial and Accounting Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 14 , 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Michael A. Henos<BR>
<HR size="1" noshade>
Michael A. Henos</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Chairman of the Board of Directors
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 14, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ M. James Barrett, Ph.D.<BR>
<HR size="1" noshade>
M. James Barrett, Ph.D.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 14 , 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Carl E. Brooks<BR>
<HR size="1" noshade>
Carl E. Brooks</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 14, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ J. Douglas Eplett, M.D.<BR>
<HR size="1" noshade>
J. Douglas Eplett, M.D.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 14 , 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Russell M. Medford, M.D., Ph.D.<BR>
<HR size="1" noshade>
Russell M. Medford, M.D., Ph.D.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 14 , 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Arda M. Minocherhomjee, Ph.D.<BR>
<HR size="1" noshade>
Arda M. Minocherhomjee, Ph.D.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 14 , 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Joseph M. Patti, M.S.P.H., Ph.D.<BR>
<HR size="1" noshade>
Joseph M. Patti, M.S.P.H., Ph.D.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 14, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Marc L. Preminger<BR>
<HR size="1" noshade>
Marc L. Preminger</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 14 , 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Louis W. Sullivan, M.D.<BR>
<HR size="1" noshade>
Louis W. Sullivan, M.D.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 14 , 2004</TD>
</TR>


<!-- End Table Body -->
</TABLE>
</DIV>




<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "g89596sv8.htm", "description": "FORM S-8", "secsgml_size_bytes": 43537}]
{"company-data": {"conformed-name": "INHIBITEX INC", "cik": "0001274913", "assigned-sic": "2836", "irs-number": "742708737"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-116446", "film-number": "04861511"}, "business-address": {"street1": "1165 SANCTUARY PARKWAY", "street2": "SUITE 400", "city": "ALPHARETTA", "state": "GA", "zip": "30004", "phone": "678-746-1100"}, "mail-address": {"street1": "1165 SANCTUARY PARKWAY", "street2": "SUITE 400", "city": "ALPHARETTA", "state": "GA", "zip": "30004"}}
FORM S-8
As filed with the Securities and Exchange Commission on June 14, 2004
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
INHIBITEX, INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
74-2708737
(State or Other Jurisdiction of Incorporation or Organization)
(I.R.S. Employer Identification No.)
1165 Sanctuary Parkway
Suite 400
Alpharetta, GA 30004
(Address of Principal Executive Offices including Zip Code)
Inhibitex, Inc. 2004 Stock Incentive Plan
Inhibitex, Inc. 2004 Employee Stock Purchase Plan
Inhibitex, Inc. 2002 Non-Employee Directors Stock Option Plan
Inhibitex, Inc. Amended and Restated 1998 Equity Ownership Plan
Stock Option Agreement with Timothy J. Foster
(Full Title of the Plan)
WILLIAM D. JOHNSTON, Ph.D.
President and Chief Executive Officer
Inhibitex, Inc.
1165 Sanctuary Parkway
Suite 400
Alpharetta, GA 30004
(678) 746-1100
(Name and Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent for Service)
Copy to:
DAVID S. ROSENTHAL, ESQ.
Swidler Berlin Shereff Friedman, LLP
The Chrysler Building
405 Lexington Avenue
New York, NY 10174
(212) 973-0111
CALCULATION OF REGISTRATION FEE
Title of Each Class
Amount
Proposed Maximum
Proposed Maximum
Amount of
of Securities To Be
to be
Offering Price
Aggregate Offering
Registration
Registered
Registered(1)
Per Share
Price
Fee
Common Stock, $0.001
par value
1,404,058 shares (2)
$
7.025
(3)
$
9,863,507
$
1,249.71
Common Stock, $0.001
par value
1,006,025 shares (4)
$
2.04
(5)
$
2,052,291
$
260.03
Common Stock, $0.001
par value
210,084 shares (6)
$
7.025
(3)
$
1,475,840
$
186.99
Common Stock, $0.001
par value
66,804 shares (7)
$
1.90
(8)
$
126,928
$
16.08
Common Stock, $0.001
par value
195,077 shares (9)
$
0.45
(10)
$
87,785
$
11.12
Common Stock, $0.001
par value
2,207 shares (11)
$
0.36
(12)
$
795
$
0.10
Total
2,884,255 shares
—
$
13,607,146
$
1,724.03
(1)
Pursuant to Rule 416(a), this Registration Statement shall also cover any additional shares of the Registrant's common stock, par
value $0.001 per share (the "Common Stock"), that become issuable under any of the plans by reason of any stock dividend, stock
split, recapitalization or other similar transaction effected without receipt of consideration that increases the number of
outstanding shares of Common Stock
(2)
Represents 1,404,058 shares of Common Stock available for future grants under the Inhibitex, Inc. 2004 Stock Incentive Plan.
(3)
This estimate is made pursuant to Rule 457(h) solely for purposes of calculating the registration fee, and is based on the average
($7.025) of the high ($7.05) and low ($7.00) prices for the Registrant's Common Stock reported by the Nasdaq National Market on June
9, 2004.
(4)
Represents shares reserved for issuance upon the exercise of outstanding options granted under the Inhibitex, Inc. 2004 Stock
Incentive Plan.
(5)
This estimate is made pursuant to Rule 457(h) solely for purposes of calculating the registration fee, and is equal to the weighted
average exercise price of these outstanding options granted under the 2004 Stock Incentive Plan.
(6)
Represents shares initially available for future grants under the Inhibitex, Inc. Employee Stock Purchase Plan
(7)
Represents shares reserved for issuance upon the exercise of outstanding options granted under the Inhibitex, Inc. 2002 Non-Employee
Directors Stock Option Plan (the "2002 Plan").
(8)
This estimate is made pursuant to Rule 457(h) solely for purposes of calculating the registration fee, and is equal to the weighted
average exercise price of these outstanding options granted under the 2002 Plan.
(9)
Represents shares reserved for issuance upon the exercise of outstanding options granted under the Inhibitex, Inc. Amended and
Restated 1998 Equity Ownership Plan (the "1998 Plan").
(10)
This estimate is made pursuant to Rule 457(h) solely for purposes of calculating the registration fee, and is equal to the weighted
average exercise price of these outstanding options granted under the 1998 Plan.
(11)
Represents shares reserved for issuance upon the exercise of outstanding options granted to Timothy J. Foster.
(12)
This estimate is made pursuant to Rule 457(h) solely for purposes of calculating the registration fee, and is equal to the exercise
price of these outstanding options.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE.
The following documents previously filed by the Company, with the Securities
and Exchange Commission pursuant to the Act or the Securities Exchange Act of
1934, as amended (the "Exchange Act"), are incorporated herein by reference:
(a)
The Company's Prospectus filed on June 3, 2004 pursuant to Rule 424(b)
under the Act; and
(b)
The description of the Company's common stock, par value $0.001 per
share, contained in the Company's Registration Statement on Form 8-A filed
under Section 12 of the Exchange Act, including any amendment or report
filed for the purpose of updating such description.
All documents subsequently filed by the Company pursuant to Sections 13(a),
13(c), 14 or 15(d) of the Exchange Act, prior to the filing of a post-effective
amendment which indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold, shall be deemed to be
incorporated by reference in this registration statement and to be a part
hereof from the date of the filing of such documents. Any statement contained
in a document incorporated or deemed to be incorporated by reference herein
shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement contained herein or in any other
subsequently filed document which also is or is deemed to be incorporated by
reference herein modifies or supersedes such statement. Any such statement so
modified or superseded shall not be deemed, except as so modified or
superseded, to constitute a part of this Registration Statement.
ITEM 4. DESCRIPTION OF THE SECURITIES.
Not Applicable
ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.
Not Applicable
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.
Section 145 of the General Corporation Law of the State of Delaware permits a
corporation, under specified circumstances, to indemnify its directors,
officers, employees or agents against expenses (including attorney's fees),
judgments, fines and amounts paid in settlements actually and reasonably
incurred by them in connection with any action, suit or proceeding brought by
third parties by reason of the fact that they were or are directors, officers,
employees or agents of the corporation, if such directors, officers, employees
or agents acted in good faith and in a manner they reasonably believed to be in
or not opposed to the best interests of the corporation and, with respect to
any criminal action or proceeding, had no reason to believe their conduct was
unlawful. In a derivative action, i.e., one by or in the right of the
corporation, indemnification may be made only for expenses actually or
reasonably incurred by directors, officers, employees or agents in connection
with the defense or settlement of an action or suit, and only with respect to a
matter as to which they shall have acted in good faith and in a manner they
reasonably believed to be in or not opposed to the best interests of the
corporation, except that no indemnification shall be made if such person shall
have been adjudged liable to the corporation, unless and only to the extent
that the court in which the action or suit was brought shall determine upon
application that the defendant directors, officers, employees or agents are
fairly and reasonably entitled to indemnify for such expenses despite such
adjudication of liability.
Our amended and restated certificate of incorporation provides that we shall
indemnify our directors, officers and employees (and those serving at our
request as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise or as a trustee or
administrator under an employee benefit plan) against all expenses (including
attorney's fees), liability and loss in any action, suit or proceeding arising
out of his or her status as a director, officer, employee or agent or
activities in any of those capacities. We shall pay expenses incurred by a
director, officer, employee or agent in defending an action, suit or
proceeding, or appearing as a witness at a time when he or she has not been
named as a defendant or a respondent, in advance of the final disposition of
the action, suit or proceeding upon receipt of an undertaking by or on behalf
of the director, officer, employee or agent to repay the amount if it shall
ultimately be determined that he or she is not entitled to be indemnified by
us.
We have entered into separate, but identical, indemnity agreements with each of
our directors and executive officers and we expect to enter into similar
indemnity agreements with persons who become directors or executive officers in
the future. These indemnity agreements provide that we will indemnify our
directors or executive officers, or the indemnitees, against any amounts that
he or she becomes legally obligated to pay in connection with any claim against
him or her based upon any act, omission, neglect or breach of duty that he or
she may commit, omit or suffer while acting in his or her capacity as a
director and/or officer of Inhibitex; provided that such claim: (i) is not
based upon the indemnitee's gaining any personal profit or advantage to which
he or she is not legally entitled; (ii) is not for any accounting of profits
made from the purchase or sale by the indemnitee of our securities within the
meaning of Section 16 (b) of the Securities Exchange Act of 1934, as amended,
or similar provisions of any state law; and (iii) is not based upon the
indemnitee's knowingly fraudulent, deliberately dishonest or willful
misconduct. The indemnity agreements also provide that all costs and expenses
incurred by the indemnitee in defending or investigating any such claim shall
be paid by us in advance of the final disposition thereof unless a majority of
our directors who are not parties to the action, independent legal counsel in a
written opinion, our stockholders or a court of competent jurisdiction in a
final, unappealable adjudication determine that: (i) the indemnitee did not act
in good faith and in a manner that he or she reasonably believed to be in or
not opposed to our best interests or (ii) in the case of any criminal action or
proceeding, the indemnitee had reasonable cause to believe his or her conduct
was unlawful. Each indemnitee has undertaken to repay us for any costs or
expenses so advanced if it shall ultimately be determined by a court of
competent jurisdiction in a final, nonappealable adjudication that he or she is
not entitled to indemnification under the indemnity agreements.
We also carry liability insurance covering each of our directors and officers.
Our amended and restated certificate of incorporation states that our directors
will not have personal liability for monetary damages for any breach of
fiduciary duty as a director, except for liability (i) for any breach of the
director's duty of loyalty to us or our stockholders, (ii) for acts or
omissions not in good faith or which involve intentional misconduct or a
knowing violation of law, (iii) under Section 174 of the General Corporation
Law of the State of Delaware, which makes directors liable for unlawful
dividends or unlawful stock repurchases or redemptions, or (iv) for any
transaction from which the director derived an improper personal benefit.
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.
Not Applicable
ITEM 8. EXHIBITS.
The following exhibits are filed as part of this registration statement.
4.1
Inhibitex, Inc. Amended and Restated 1998 Equity Ownership Plan
(Incorporated by reference to Exhibit 10.1 of the Registration Statement
on Form S-1 (Reg. No. 333-113243) filed with the SEC on March 3, 2004.)
4.2
Inhibitex, Inc. 2004 Stock Incentive Plan (Incorporated by reference to
Exhibit 10.2 of the Registration Statement on Form S-1 (Reg. No.
333-113243) filed with the SEC on May 6, 2004).
4.3
Inhibitex, Inc. 2002 Non-Employee Directors Stock Option Plan
(Incorporated by reference to Exhibit 10.3 of the Registration Statement
on Form S-1 (Reg. No. 333-113243) filed with the SEC on March 3, 2004.)
4.4
Inhibitex, Inc. 2004 Employee Stock Purchase Plan (Incorporated by
reference to Exhibit 10.4 of the Registration Statement on Form S-1 (Reg.
No. 333-113243) filed with the SEC on March 3, 2004.)
4.5
Stock Option Agreement with Timothy J. Foster.
5.1
Opinion of Swidler Berlin Shereff Friedman, LLP.
23.1
Consent of Ernst & Young LLP.
23.2
Consent of Swidler Berlin Shereff Friedman, LLP (included in Exhibit 5.1).
24.1
Powers of Attorney (included on signature page).
ITEM 9. UNDERTAKINGS.
(a)
The undersigned registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being
made, a post-effective amendment to this registration statement:
(i)
To include any prospectus required by Section
10(a)(3) of the Securities Act of 1933, as amended;
(ii)
To reflect in the prospectus any facts or events
arising after the effective date of the registration statement
(or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental
change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or
decrease in volume of securities offered (if the total dollar
value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form
of prospectus filed with the Commission pursuant to Rule
424(b) if, in the aggregate, the changes in volume and price
represent no more than 20 percent change in the maximum
aggregate offering price set forth in the "Calculation of
Registration Fee" table in the effective registration
statement;
(iii)
To include any material information with respect
to the plan of distribution not previously disclosed in the
registration statement or any material change to such
information in the registration statement;
provided, however, that paragraphs (a)(l)(i) and
(a)(1)(ii) do not apply if the registration
statement is on Form S-3, Form S-8 or Form F-3,
and the information required to be included in a
post-effective amendment by those paragraphs is
contained in periodic reports filed with or
furnished to the Commission by the registrant
pursuant to Section 13 or Section 15(d) of the
Securities Exchange Act of 1934 that are
incorporated by reference in this registration
statement.
(2)
That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be
deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof.
(3)
To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold
at the termination of the offering.
(b)
The undersigned registrant hereby undertakes that, for the purposes of
determining any liability under the Securities Act of 1933, each filing of
the registrant's annual report pursuant to Section 13(a) or 15(d) of the
Securities Exchange Act of 1934 (and, where applicable, each filing of an
employee benefit plan's annual report pursuant to Section 15(d) of the
Securities Exchange Act of 1934) that is incorporated by reference in this
registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide
offering thereof.
(c)
Insofar as indemnification for liabilities arising under the Securities
Act of 1933 may be permitted to directors, officers and controlling
persons of the registrant pursuant to the foregoing provisions, or
otherwise, the registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public
policy as expressed in the Act and is, therefore, unenforceable. In the
event that a claim for indemnification against such liabilities (other
than the payment by the registrant of expenses incurred or paid by a
director, officer or controlling person of the registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities
being registered, the registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent, submit to a
court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all the
requirements for filing on Form S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, hereunto duly
authorized, in the City of Alpharetta, Georgia, on June 14, 2004.
INHIBITEX, INC.
By:
/s/ William D. Johnston, Ph.D.
William D. Johnston, Ph.D.
Chief Executive Officer, President and
Director
KNOW ALL MEN BY THESE PRESENTS, that each of the undersigned whose signature
appears below constitutes and appoints William D. Johnston and Russell H.
Plumb, his true and lawful attorneys-in-fact, with full power of substitution
and resubstitution for him and on his behalf, and in his name, place and stead,
in any and all capacities to execute and sign any and all amendments or
post-effective amendments to this registration statement, and to file the same,
with all exhibits thereto, and other documents in connection therewith, with
the Securities and Exchange Commission, hereby ratifying and confirming all
that said attorneys-in-fact or any of them or their or his substitute or
substitutes, may lawfully do or cause to be done by virtue hereof and the
Registrant hereby confers like authority on its behalf.
Pursuant to the requirements of the Securities Act of 1933, this registration
statement has been signed below by the following persons in the capacity and on
the dates indicated.
SIGNATURE
TITLE
DATE
/s/ William D. Johnston, Ph.D.
William D. Johnston, Ph.D.
President, Chief Executive Officer and
Director
(Principal Executive Officer)
June 14, 2004
/s/ Russell H. Plumb
Russell H. Plumb
Chief Financial Officer (Principal
Financial and Accounting Officer)
June 14 , 2004
/s/ Michael A. Henos
Michael A. Henos
Chairman of the Board of Directors
June 14, 2004
/s/ M. James Barrett, Ph.D.
M. James Barrett, Ph.D.
Director
June 14 , 2004
/s/ Carl E. Brooks
Carl E. Brooks
Director
June 14, 2004
/s/ J. Douglas Eplett, M.D.
J. Douglas Eplett, M.D.
Director
June 14 , 2004
/s/ Russell M. Medford, M.D., Ph.D.
Russell M. Medford, M.D., Ph.D.
Director
June 14 , 2004
/s/ Arda M. Minocherhomjee, Ph.D.
Arda M. Minocherhomjee, Ph.D.
Director
June 14 , 2004
/s/ Joseph M. Patti, M.S.P.H., Ph.D.
Joseph M. Patti, M.S.P.H., Ph.D.
Director
June 14, 2004
/s/ Marc L. Preminger
Marc L. Preminger
Director
June 14 , 2004
/s/ Louis W. Sullivan, M.D.
Louis W. Sullivan, M.D.
Director
June 14 , 2004