Achillion Pharmaceuticals, Inc. reported a loss of 16 cents per share in the second quarter of 2017, in line with the Zacks Consensus Estimate. In the year-ago quarter, the company had reported a loss of 14 cents per share.
The company generated no revenues in the reported quarter as had been the case in the year-ago quarter.
Shares of Achillion surged almost 28% in after-hours trading on Aug 8, as the company announced positive interim results on its most advanced factor D inhibitor pipeline candidate, ACH-4471. However, the stock has underperformed the industry year to date. The company’s shares lost 2.9% whereas the industry registered an increase of 8.7%.
Research and development expenses increased nearly 29% from the year-ago period to $18.3 million due to increased clinical trial costs related to pipeline candidate, ACH-4471. The increase in expenses also included higher manufacturing costs related to ACH-5528 and cost related to ophthalmic factor D inhibitor compounds in development. However, the increase was partially offset by a decrease in cost related to manufacturing of ACH-4471.
General and administrative expenses were up 4% to $5.4 million due to an increase in corporate legal fees and consulting fees, partially offset by a decrease in corporate taxes.
Pipeline Update
In April, Achillion initiated patient dosing in a phase II study, evaluating its key pipeline candidate, a factor D inhibitor, ACH-4471 for the treatment of patients with paroxysmal nocturnal hemoglobinuria (PNH). The company completed three months of dosing during the quarter and entered a long-term extension trial.
The interim results from the study, announced together with the earnings release, showed clinically meaningful complement inhibition and a favorable tolerability profile for ACH-4471. The candidate has shown improvement in LDH, hemoglobin, fatigue score and other markers of response.
Moreover, the company plans to initiate a phase II study later this year on ACH-4471 in patients with C3G, a rare renal disorder, which includes dense deposit disease (DDD) and C3 glomerulonephritis (C3GN).
Meanwhile, Achillion is planning to advance a number of next-generation factor D inhibitors in preclinical or clinical studies by 2017 end.
Also, Achillion is evaluating a triple combination of simeprevir, odalasvir and AL-335 in a phase II OMEGA-1 study in patients with HCV genotype 1, 2, 4, 5, and 6 infection, with and without cirrhosis. The study is being conducted by Johnson & Johnson’s (JNJ - Free Report) subsidiary Janssen with data expected in the second half of 2017.
Zacks Rank & Stocks to Consider
Achillion Pharma carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the pharma sector include Summit Therapeutics PLC (SMMT - Free Report) and Enzo Biochem, Inc. (ENZ - Free Report) . Both stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Summit’s loss estimates narrowed from $2.59 to 32 cents for 2017 over the last 60 days. The company delivered positive earnings surprise in each of the four trailing quarters with an average beat of 25.55%. Its share price is up 66.6% so far this year.
Enzo Biochem’s loss estimates narrowed from 12 cents to 7 cents for 2017 over the last 60 days. The company came up with a positive earnings surprise in all the four trailing quarters with an average beat of 55.83%. The stock is up 62.7% so far this year.
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential. See these stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Achillion Pharmaceuticals, Inc. reported a loss of 16 cents per share in the second quarter of 2017, in line with the Zacks Consensus Estimate. In the year-ago quarter, the company had reported a loss of 14 cents per share.
The company generated no revenues in the reported quarter as had been the case in the year-ago quarter.
Shares of Achillion surged almost 28% in after-hours trading on Aug 8, as the company announced positive interim results on its most advanced factor D inhibitor pipeline candidate, ACH-4471. However, the stock has underperformed the industry year to date. The company’s shares lost 2.9% whereas the industry registered an increase of 8.7%.
Research and development expenses increased nearly 29% from the year-ago period to $18.3 million due to increased clinical trial costs related to pipeline candidate, ACH-4471. The increase in expenses also included higher manufacturing costs related to ACH-5528 and cost related to ophthalmic factor D inhibitor compounds in development. However, the increase was partially offset by a decrease in cost related to manufacturing of ACH-4471.
General and administrative expenses were up 4% to $5.4 million due to an increase in corporate legal fees and consulting fees, partially offset by a decrease in corporate taxes.
Pipeline Update
In April, Achillion initiated patient dosing in a phase II study, evaluating its key pipeline candidate, a factor D inhibitor, ACH-4471 for the treatment of patients with paroxysmal nocturnal hemoglobinuria (PNH). The company completed three months of dosing during the quarter and entered a long-term extension trial.
The interim results from the study, announced together with the earnings release, showed clinically meaningful complement inhibition and a favorable tolerability profile for ACH-4471. The candidate has shown improvement in LDH, hemoglobin, fatigue score and other markers of response.
Moreover, the company plans to initiate a phase II study later this year on ACH-4471 in patients with C3G, a rare renal disorder, which includes dense deposit disease (DDD) and C3 glomerulonephritis (C3GN).
Meanwhile, Achillion is planning to advance a number of next-generation factor D inhibitors in preclinical or clinical studies by 2017 end.
Also, Achillion is evaluating a triple combination of simeprevir, odalasvir and AL-335 in a phase II OMEGA-1 study in patients with HCV genotype 1, 2, 4, 5, and 6 infection, with and without cirrhosis. The study is being conducted by Johnson & Johnson’s (JNJ - Free Report) subsidiary Janssen with data expected in the second half of 2017.
Zacks Rank & Stocks to Consider
Achillion Pharma carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the pharma sector include Summit Therapeutics PLC (SMMT - Free Report) and Enzo Biochem, Inc. (ENZ - Free Report) . Both stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Summit’s loss estimates narrowed from $2.59 to 32 cents for 2017 over the last 60 days. The company delivered positive earnings surprise in each of the four trailing quarters with an average beat of 25.55%. Its share price is up 66.6% so far this year.
Enzo Biochem’s loss estimates narrowed from 12 cents to 7 cents for 2017 over the last 60 days. The company came up with a positive earnings surprise in all the four trailing quarters with an average beat of 55.83%. The stock is up 62.7% so far this year.
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential. See these stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on JNJ - FREE
Get the latest research report on ENZ - FREE
Get the latest research report on SMMT - FREE