Achillion Pharmaceuticals, Inc. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported loss from operations of $24,355,000 compared to $5,289,000 a year ago. Net loss was $23,203,000 or $0.17 per basic and diluted share compared to $4,429,000 or $0.03 per basic and diluted share a year ago.

For the year, the company reported loss from operations of $89,576,000 compared to $64,865,000 a year ago. Net loss was $85,236,000 or $0.62 per basic and diluted share compared to $61,706,000 or $0.45 per basic and diluted share a year ago.

The company provided earnings guidance for the year 2018. The company expects net cash used in operating activities in 2018 will be approximately $68 - 70 million based on current operating plans, anticipated timelines and the estimated cost of clinical trials and product development programs. The net loss per share for fiscal 2018 is anticipated to approximate $0.55 - 0.58 per share. Under the restructuring, the Company expects to reduce annual projected operating expenses by approximately $10 million, or 12%, from 2017 levels and reduced headcount by approximately 20% over 2017 levels.