NEW HAVEN, Conn. , Aug. 04, 2016 (GLOBE NEWSWIRE) -- Achillion Pharmaceuticals, Inc. (Nasdaq:ACHN) today reported financial results for the three and six months ended June 30, 2016. For the second quarter of 2016, Achillion reported a net loss of $18.5 million or $0.14 per share, compared with a net loss of $29.0 million or $0.25 per share for the second quarter of 2015. Cash, cash equivalents, marketable securities, and interest receivable as of June 30, 2016 were $426.5 million.
“During the second quarter, we continued to advance the clinical development program for ACH-4471, our internally discovered and developed factor D inhibitor candidate for complement-mediated rare diseases, with the initiation of a 14-day multiple-ascending dose study in healthy volunteers,” commented Milind Deshpande, Ph.D., President and Chief Executive Officer of Achillion. “We anticipate that the data from the ACH-4471 phase 1 program will be used to select dosing regimens for the phase 2 trials in paroxysmal nocturnal hemoglobinuria (PNH) and C3 glomerulopathy (C3G), both targeted for initiation during the fourth quarter of this year.”
“During the second quarter, we continued to advance the clinical development program for ACH-4471, our internally discovered and developed factor D inhibitor candidate for complement-mediated rare diseases, with the initiation of a 14-day multiple-ascending dose study in healthy volunteers,” commented Milind Deshpande, Ph.D., President and Chief Executive Officer of Achillion. “We anticipate that the data from the ACH-4471 phase 1 program will be used to select dosing regimens for the phase 2 trials in paroxysmal nocturnal hemoglobinuria (PNH) and C3 glomerulopathy (C3G), both targeted for initiation during the fourth quarter of this year.”
