Achillion Pharmaceuticals, Inc. to incur higher cost on R&D activities in 2011

Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) traded flat in the last three trading sessions after reporting its fourth quarter and fiscal ended December 31, 2010 results on March 2, 2011. The Company's net loss for the reported quarter reduced to $6.2 million from $6.7 million in 2009 mainly on the grants under the Qualified Therapeutic Discovery Program, or QTDP, a federal program administered through the National Institutes of Health. Revenues for the quarter increased to $2 million as compared to $0.061 million reported in the prior year period. But the Company's expenditure on research and development particularly on the clinical testing of the Company’s HCV protease inhibitor, ACH-1625, as well as late stage preclinical testing of the Company’s HCV NS5A inhibitor, ACH-2928, and its pan-genotypic protease inhibitor, ACH-2684 also increased to $6.1 million from $4.9 million in the prior year period. Total revenues for the fiscal year was reported at $2.4 million as compared to ($2.94) million in 2009 primarily due to the QTDP grants while the Company also incurred higher cost due to its increased clinical trial activities. Net loss incurred only slightly by 0.4 million to $25.5 million as compared to net loss of $25.9 million in 2009. The Company is anticipating net loss of $65-$70 per diluted share on higher research and development expenses of $30-$33 million in 2011. Achillion Pharmaceuticals, Inc. trade closed at $6 after trading on a volume of 490.265K shares as compared to the average trading volume of 240.896K shares. Its market capitalization stands at $350.10 million on 58.35 million outstanding shares. Achillion is an innovative pharmaceutical company dedicated to bringing important new treatments to patients with infectious disease. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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