X0202 4 2007-09-19 0 0001274913 INHIBITEX, INC. INHX 0001253803 CERRONE GABRIEL 9005 WESTSIDE PARKWAY ALPHARETTA GA 30004 1 0 1 0 Common stock 2007-09-19 4 A 0 435600 A 435600 D Common stock 2007-09-19 4 A 0 1666500 A 1666500 I By Panetta Partners Ltd. Common Stock-Option (Right to Buy) 2.27 2007-09-19 4 A 0 33000 A 2007-09-19 Common Stock 33000 33000 D Common Stock-Option (Right to Buy) 3.45 2007-09-19 4 A 0 6600 A 2007-09-19 Common Stock 6600 6600 D Common Stock-Warrant (Right to Buy) 0.50 2007-09-19 4 A 0 871200 A 2007-09-19 2016-12-31 Common Stock 871200 871200 D Common Stock-Warrant (Right to Buy) 2.73 2007-09-19 4 A 0 12375 A 2007-09-19 2010-08-16 Common Stock 12375 12375 I By Panetta Partners Ltd. Received by Mr. Cerrone in exchange for 792,000 shares of FermaVir Pharmaceuticals, Inc. common stock in connection with the acquisition of FermaVir Pharmaceuticals, Inc. by Inhibitex, Inc. (the "Merger"). Each share of FermaVir common stock was converted into the right to receive 0.55 of a share of Inhibitex common stock. Received by Panetta Partners Ltd. in exchange for 3,030,000 shares of FermaVir Pharmaceuticals, Inc. common stock in connection with the Merger. Each share of FermaVir common stock was converted into the right to receive 0.55 of a share of Inhibitex common stock. Consists of 1,666,500 shares of common stock owned by Panetta Partners, Ltd. in which Mr. Cerrone is the sole managing partner and in such capacity only exercises voting and dispositive control over securities owned by Panetta Partners, Ltd., despite him having only a small pecuniary interest in such securities. Expiration date shall be upon the earlier of (i) three years after his service to Inhibitex, Inc. terminates and (ii) September 24, 2015. Received by Mr. Cerrone in the Merger in exchange for common stock options to acquire 60,000 shares of FermaVir common stock. Received by Mr. Cerrone in the Merger in exchange for common stock options to acquire 12,000 shares of FermaVir common stock. Received by Mr. Cerrone in the Merger in exchange for common stock warrants to acquire 1,584,000 shares of FermaVir common stock. Received by Panetta Partners Ltd. in the Merger in exchange for common stock warrants to acquire 22,500 shares of FermaVir common stock. Consists of 12,375 shares of common stock upon the exercise of outstanding warrants owned by Panetta Partners, Ltd., in which Mr. Cerrone is the sole managing partner and in such capacity only exercises voting and dispositive control over securities owned by Panetta Partners, Ltd., despite him having only a small pecuniary interest in such securities. /s/ Gabriele M. Cerrone 2007-09-21