Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nasdaq  >  Achillion Pharmaceuticals, Inc.    ACHN

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Achillion Shares Slide On Results From Hepatitis C Study

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/23/2012 | 04:57pm CET

Achillion Pharmaceuticals Inc.'s (>> Achillion Pharmaceuticals, Inc.) shares declined Monday as Phase II study data for its lead hepatitis C treatment was deemed disappointing in light of the recent success of peers.

Bristol-Myers Squibb Co. (>> Bristol Myers Squibb Co.), Gilead Sciences Inc. (>> Gilead Sciences, Inc.) and others, including Abbott Laboratories (>> Abbott Laboratories), are racing to bring an all-oral hepatitis C regimen to market, hoping to tap what is expected to be a multibillion-dollar market for such a therapy. Gilead shares surged last week as it appeared to be leading the race: it hopes to bring a GS-7977-based therapy to market late next year or in 2014.

Achillion shares were down 12% at $7.25 in recent trading, pushing their decline for the past three months to 21%.

Over the weekend, Achillion presented final results of a 12-week study of its ACH-1625 treatment in combination with standard-of-care treatment at a European Association for the Study of the Liver conference in Barcelona, along with plans to combine a study of the oral drug candidate with another treatment later this year.

The company on Saturday had reported that in the second segment of its Phase 2a trial of ACH-1625, 94% to 100% of patients achieved a complete early virologic response after 12 weeks of the experimental treatment in combination with pegylated interferon alfa-2a and ribavirin. The company also reported the combined treatments were safe and well tolerated and produced high viral response rates.

J.P. Morgan Chase & Co. (JPM) said in a research note the data Achillion presented on Saturday "raises eyebrows" as it downgraded the stock to market perform from market outperform.

"Overall, the data were confusing and raised questions regarding the interim safety and efficacy analysis, particularly regarding the compounds ability to clear the virus relative to other competitive agents, liver elevations, and gastrointestinal symptoms," the analysts said. "As such, we are waiting on the sidelines until we get a better handle on the breadth of the therapeutic window."

Achillion on Monday aimed to clarify data regarding end-of-treatment data included in the data presented over the weekend.

The company in a statement said that 58 patients were given a once-daily dose of 200 milligrams, 400 milligrams or 800 milligrams of ACH-1625 pegylated interferon and ribavirin for 12 weeks. At the time of the presentation, 22 of the patients had completed 12 weeks of ACH-1625 plus the other two drugs followed by 12 weeks of pegylated interferon and ribavirin. At the end of 24 weeks all 22 patients had undetectable levels of the virus.

"We are providing these results as we recognized that some of the data was not clear" during its presentation at the conference, Achillion President and Chief Executive Michael Kishbauch said.

Oppenheimer analysts said earlier Monday that based on the results, "we believe '1625 has meaningful strategic value and could play a role in an all-oral combination regimen."

However, the analysts also said that despite their favorable view of 1625 and Achillion's earlier hepatitis C pipeline they believe the stock currently "reflects appropriate value for these programs."

The study data was released a few days after another study found a regimen combining experimental drugs from Gilead and Bristol-Myers suppressed the hepatitis C virus in most patients four weeks after completing treatment. In a separate study, Gilead also said a combination of its drug, GS-7977, with an older drug, ribavirin, suppressed the liver-disease-causing virus in most patients four weeks after treatment.

The results bolster the prospects for an all-oral regimen for hepatitis C that eliminates an injectable drug used in the current standard treatment, interferon, which can be difficult for patients to tolerate.

-By Tess Stynes, Dow Jones Newswires; 212-416-2481; [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ACHILLION PHARMACEUTICALS,
12/05 ACHILLION PHARMACEUTICALS, INC. : Today’s Research Reports on Trending Tickers: ..
11/20 ACHILLION PHARMACEUTICALS : Announces Pricing of Secondary Offering of Common St..
11/16 ACHILLION PHARMACEUTICALS INC : Entry into a Material Definitive Agreement, Term..
11/16 ACHILLION PHARMACEUTICALS, INC. : Today’s Research Reports on Trending Tickers: ..
11/16 ACHILLION PHARMACEUTICALS : Reports Preliminary Proof-of-Concept With ACH-4471 f..
11/16 ACHILLION PHARMACEUTICALS : Announces Proposed Secondary Offering of Common Stoc..
11/16 Achillion Announces Pricing of Secondary Offering Of Common Stock
11/15 ACHILLION PHARMACEUTICALS : Announces Proposed Secondary Offering of Common Stoc..
11/14 ACHILLION PHARMACEUTICALS INC : Other Events, Financial Statements and Exhibits ..
11/14 Achillion Announces Proposed Secondary Offering of Common Stock
More news
News from SeekingAlpha
12/08 Akari's Coversin successful in mid-stage PNH study
11/24 After Hours Gainers / Losers
11/16 HEALTHCARE - TOP 5 GAINERS / LOSERS : 00 am
11/16 PREMARKET GAINERS AS OF 9 : 05 am
11/16 Achillion prices stock offering at $2.75
Financials ($)
Sales 2017 -
EBIT 2017 -86,6 M
Net income 2017 -83,0 M
Finance 2017 247 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 0
EV / Sales 2018 8,15x
Capitalization 394 M
Chart ACHILLION PHARMACEUTICALS,
Duration : Period :
Achillion Pharmaceuticals, Technical Analysis Chart | ACHN | US00448Q2012 | 4-Traders
Technical analysis trends ACHILLION PHARMACEUTICALS,
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 5,92 $
Spread / Average Target 107%
EPS Revisions
Managers
NameTitle
Milind S. Deshpande President, Chief Executive Officer & Director
David I. Scheer Chairman
Joseph Truitt Chief Operating Officer & Executive Vice President
Mary Kay Fenton CFO, Principal Accounting Officer & Executive VP
David Apelian Chief Medical Officer & Executive Vice President
Sector and Competitors
1st jan.Capitalization (M$)
ACHILLION PHARMACEUTICALS, INC.-29.78%394
GILEAD SCIENCES1.55%99 094
REGENERON PHARMACEUTICALS1.78%40 969
VERTEX PHARMACEUTICALS88.38%35 831
GENMAB1.79%11 452
BLUEBIRD BIO INC172.12%9 249