-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001181431-09-054244.txt : 20091201
<SEC-HEADER>0001181431-09-054244.hdr.sgml : 20091201
<ACCEPTANCE-DATETIME>20091201161958
ACCESSION NUMBER:		0001181431-09-054244
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20091127
FILED AS OF DATE:		20091201
DATE AS OF CHANGE:		20091201

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INHIBITEX, INC.
		CENTRAL INDEX KEY:			0001274913
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				742708737
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		9005 WESTSIDE PARKWAY
		CITY:			ALPHARETTA
		STATE:			GA
		ZIP:			30004
		BUSINESS PHONE:		678-746-1100

	MAIL ADDRESS:	
		STREET 1:		9005 WESTSIDE PARKWAY
		CITY:			ALPHARETTA
		STATE:			GA
		ZIP:			30004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INHIBITEX INC
		DATE OF NAME CHANGE:	20031231

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			QVT Fund LP
		CENTRAL INDEX KEY:			0001290165
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-50772
		FILM NUMBER:		091215074

	BUSINESS ADDRESS:	
		STREET 1:		WALKERS SPV, WALKERS HOUSE
		STREET 2:		P.O. BOX 908GT, MARY STREET
		CITY:			GEORGE TOWN
		STATE:			E9
		ZIP:			00000
		BUSINESS PHONE:		212-705-8800

	MAIL ADDRESS:	
		STREET 1:		1177 AVENUE OF THE AMERICAS
		STREET 2:		9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			QVT Associates GP LLC
		CENTRAL INDEX KEY:			0001290166
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-50772
		FILM NUMBER:		091215075

	BUSINESS ADDRESS:	
		STREET 1:		1177 AVENUE OF THE AMERICAS
		STREET 2:		9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		212-705-8800

	MAIL ADDRESS:	
		STREET 1:		1177 AVENUE OF THE AMERICAS
		STREET 2:		9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd258538.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-11-27</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001274913</issuerCik>
        <issuerName>INHIBITEX, INC.</issuerName>
        <issuerTradingSymbol>INHX</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001290166</rptOwnerCik>
            <rptOwnerName>QVT Associates GP LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1177 AVENUE OF THE AMERICAS</rptOwnerStreet1>
            <rptOwnerStreet2>9TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10036</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001290165</rptOwnerCik>
            <rptOwnerName>QVT Fund LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>WALKERS SPV, WALKERS HOUSE</rptOwnerStreet1>
            <rptOwnerStreet2>87 MARY STREET</rptOwnerStreet2>
            <rptOwnerCity>GEORGE TOWN, GRAND CAYMAN</rptOwnerCity>
            <rptOwnerState>E9</rptOwnerState>
            <rptOwnerZipCode>KY1-9002</rptOwnerZipCode>
            <rptOwnerStateDescription>CAYMAN ISLANDS</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $0.001 par value</value>
            </securityTitle>
            <transactionDate>
                <value>2009-11-27</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.96</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>8826953</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Through QVT Fund LP and Quintessence Fund L.P.</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $0.001 par value</value>
            </securityTitle>
            <transactionDate>
                <value>2009-11-27</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>12300</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.96</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>8839253</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Through QVT Fund LP and Quintessence Fund L.P.</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $0.001 par value</value>
            </securityTitle>
            <transactionDate>
                <value>2009-11-30</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>50000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.99</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>8889253</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Through QVT Fund LP and Quintessence Fund L.P.</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <remarks>On November 27, 2009, QVT Fund LP purchased an aggregate amount of 12,963 shares of Common Stock and Quintessence Fund L.P. purchased an aggregate amount of 1,337 shares of Common Stock.  On November 30, 2009, QVT Fund LP purchased 45,325 shares of Common Stock and Quintessence Fund L.P. purchased 4,675 shares of Common Stock.  As a result, QVT Fund LP directly beneficially owns 8,029,401 shares of Common Stock and Quintessence Fund L.P. directly beneficially owns 859,852 shares of Common Stock.  QVT Associates GP LLC, as General Partner of QVT Fund LP and Quintessence Fund L.P., may be deemed to beneficially own the aggregate number of shares of Common Stock owned by QVT Fund LP and Quintessence Fund L.P. and accordingly, QVT Associates GP LLC may be deemed to be the indirect beneficial owner of an aggregate amount of 8,889,253 shares of Common Stock.  The foregoing does not include the Warrants disclosed on the Form 3 filed by the reporting persons on October 30, 2009.  Each of the reporting p
ersons disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein.</remarks>

    <ownerSignature>
        <signatureName>/s/ Tracy Fu, Managing Member</signatureName>
        <signatureDate>2009-12-01</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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