Achillion Reports First Quarter 2017 Financial Results And Provides Update On Clinical Programs

NEW HAVEN, Conn., May 04, 2017 (GLOBE NEWSWIRE) -- Achillion Pharmaceuticals, Inc. (Nasdaq:ACHN) today reported financial results for the three months ended March 31, 2017. For the first quarter of 2017, the Company reported a net loss of $20.2 million or $0.15 per share, compared with a net loss of $18.1 million or $0.13 per share for the first quarter of 2016. Cash, cash equivalents, marketable securities and interest receivable as of March 31, 2017 were $386.6 million.

“During the first quarter of 2017, we advanced our first, orally administered factor D inhibitor, ACH-4471, into Phase 2 development for PNH. As we continue to enroll patients into this study, the first two PNH patients have now completed 28 days of dosing. After assessment of safety and efficacy by the investigators both patients continue to receive up to two additional months of therapy. Our plan is to submit interim results from this study for presentation at a major medical conference this quarter,” commented Milind Deshpande, Ph.D., President and CEO of Achillion.

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