achillion pharmaceuticals (ACHN) Key Developments
Achillion Pharmaceuticals, Inc. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Full Year of 2015
Aug 10 15
Achillion Pharmaceuticals, Inc. reported unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported a net loss of $29.0 million or $0.25 per share, compared with a net loss of $15.7 million or $0.16 per share for the second quarter of 2014. Revenue was $711,000. Loss from operations was $29,188,000 compared to $15,766,000 a year ago.
For the six months ended June 30, 2015, the company reported a net loss of $48.2 million, compared to a net loss of $31.7 million in the same period in 2014. The company recognized $711,000 in revenue during the six months ended June 30, 2015 representing a portion of the premium paid by JJDC associated with its equity purchase of the company’s common stock. Revenues were $711,000. Loss from operations was $48,587,000 compared to $32,001,000 a year ago. Basic and diluted net loss per share was $0.42 compared to $0.33 a year ago.
The Company expects total annual revenue to be $66 million. The company expects that research and development expenses during 2015 will be approximately $60 million to $65 million, compared to previously provided guidance of $85 million to $95 million, and that general and administrative expenses will add $20 million to $25 million of expense with an annual net loss anticipated of $18 million to $20 million. Net cash used in operating activities in 2015 will be approximately $65 to $70 million, based on current operating plans, anticipated timelines and the estimated cost of clinical trials and product development programs, as compared to previous guidance of $100 million to $110 million. The net loss per share is anticipated to be approximately $0.15 per share.
Achillion Pharmaceuticals, Inc. to Report Q2, 2015 Results on Aug 10, 2015
Aug 5 15
Achillion Pharmaceuticals, Inc. announced that they will report Q2, 2015 results on Aug 10, 2015
Achillion Pharmaceuticals, Inc. Presents at UBS SMID Cap One-on-One Conference, Aug-04-2015
Jul 18 15
Achillion Pharmaceuticals, Inc. Presents at UBS SMID Cap One-on-One Conference, Aug-04-2015 . Venue: Boston Harbor Hotel, 70 Rowes Wharf, Boston, MA 02110, United States. Speakers: Glenn Schulman, Senior Director, IR, Mary Kay Fenton, Chief Financial Officer, Executive Vice President and Secretary, Milind S. Deshpande, Chief Executive Officer, President and Director.
Achillion Pharmaceuticals, Inc. Announces Resignation of Dennis Liotta as Class I Director
Jun 8 15
Dennis Liotta, a Class I director of Achillion Pharmaceuticals, Inc. resigned from the company’s Board of Directors.
Achillion Pharmaceuticals Inc. Enters into Worldwide License and Collaboration Arrangement with Janssen Pharmaceuticals
May 20 15
Achillion Pharmaceuticals Inc. (ACHN) has entered into a worldwide license and collaboration arrangement with Janssen Pharmaceuticals Inc., to develop and commercialize one or more of Achillion's lead hepatitis C virus assets which include ACH-3102, ACH-3422, and Sovaprevir. The collaboration focuses on the development of a short-duration, highly effective, pan-genotypic, oral regimen for the treatment of hepatitis C virus, or HCV. An initial regimen that will be explored will feature Achillion's ACH-3102, a second-generation NS5A inhibitor currently in phase 2 clinical studies in combination with an NS3/4A HCV protease inhibitor plus an NS5B HCV polymerase inhibitor from the collaboration. Achillion is eligible to receive about $1.1 billion in potential development, regulatory and sales milestone payments under the collaboration. Additionally, Johnson & Johnson Innovation - JJDC, Inc. will invest $225 million in Achillion and, in return, receive about 18.4 million newly issued, unregistered shares of Achillion at a price of $12.25 per share. Derma Sciences Inc. (DSCI) is aiming to complete enrollment in its phase III program with Aclerastide in subjects with diabetic foot ulcers by the end of June 2016.