Achillion Pharmaceuticals Shares Shoot Up On Positive Trial Results

Achillion Pharmaceuticals, Inc. (ACHN), a global a biopharmaceutical company yesterday reported their second quarter 2017 financial results.

Achillion reported a second quarter loss of $22.5 million  Achillion reported adjusted second quarter earnings of a loss of  $0.16 per share which exactly what analysts were expecting.   

Achillion Pharmaceuticals, Inc. CEO’s  Comments

“Our focus in early clinical development with ACH-4471 has been on achieving proof-of-concept via factor D inhibition, and we are pleased to report that we believe we have achieved this goal. The emerging interim results from our phase 2 PNH trial have demonstrated a dose response to treatment with what we believe to be meaningful improvements in LDH, hemoglobin, fatigue score and other markers of response. To date, orally administered ACH-4471 has been well tolerated in this PNH clinical trial with four patients enrolled and treated with ACH-4471, two of whom have now received more than four months of dosing,” commented Milind S. Deshpande, Ph.D., President and Chief Executive Officer of Achillion. “We believe that inhibition of factor D represents a highly innovative and differentiated mechanism of action with the potential to address multiple diseases of the alternative pathway, including PNH, C3G, IC-MPGN and geographic atrophy, an advanced form of dry age-related macular degeneration.”  Globe Newswire

ACHN Technical Analysis

(Click on image to enlarge)

Achillion Pharmaceuticals

ACHN opened trading yesterday at $4.00 which was up from the previous day’s trading close of $3.97. ACHN closed trading yesterday at $4.01 and spiked up after market to $5.12, equivalent to a 28% increase from the closing price. Taking a look at the daily chart we can see the last time ACHN traded above these levels we have to go back to July 5th when it traded at $5.15.

Taking a closer look at the daily chart we can see that before the spike up ACHN had been a trading range in between $3.00 and $5.00 dating back to November 2016. ACHN has a float of 91.43 million shares and traded 1.42 times the normal daily trading volume on Tuesday.

Disclaimer: This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult ...

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.
Kate Hayden 3 years ago Contributor's comment

The stock corrected but has been inching back, holding around $5, so it looks like investors are holding onto the positive takeaway from earnings.