NEW HAVEN, Conn., Jan. 22, 2010 (GLOBE NEWSWIRE) -- Achillion Pharmaceuticals, Inc. (Nasdaq:ACHN), a leader in the discovery and development of treatments for the most challenging infectious diseases, today announced that it has priced a firm commitment underwritten public offering of 10,275,000 shares of its common stock at public offering price of $2.08 per share. The Company has also granted to the underwriters an option to acquire up to an additional 1,541,250 shares to cover overallotments in connection with the offering. The Company expects that the net proceeds of the offering will be approximately $19.7 million, assuming no exercise of the overallotment option. The net proceeds of the offering will be used for general corporate purposes. The offering is expected to close on January 27, 2010.
