Achillion Reports Third Quarter 2016 Financial Results And Provides Update On Clinical Programs

Published: Nov 03, 2016

NEW HAVEN, Conn., Nov. 03, 2016 (GLOBE NEWSWIRE) -- Achillion Pharmaceuticals, Inc. (Nasdaq:ACHN) today reported financial results for the three months ended September 30, 2016. For the third quarter of 2016, Achillion reported a net loss of $20.7 million or $0.15 per share, compared with net income of $26.3 million or $0.19 per share for the third quarter of 2015. Cash, cash equivalents, marketable securities, and interest receivable as of September 30, 2016 were $409.5 million.

"We continue to advance ACH-4471 and our platform of small molecule factor D inhibitors,” commented Milind Deshpande, Ph.D., President and Chief Executive Officer of Achillion. "Our strong balance sheet, together with our collaboration with Janssen who is developing JNJ-4178, a next-generation short-duration treatment regimen for HCV, enables us to focus on the discovery and development of what could be a game-changing approach to modulating diseases of the complement alternative pathway.”

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