Dallas, Texas 01/31/2014 (FINANCIALSTRENDS) – On 13th January, the $327 million market capped, development stage drug maker Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) reported updates on its pipeline of target compounds that it has been developing to treat chronic hepatitis C (HCV).
Dr. Milind Deshpande, President and Chief Executive Officer of Achillion has been quoted to have said that, ” With the emerging safety and in vitro data on ACH-3422, a uridine nucleotide inhibitor of NS5B polymerase, and the 12-week clinical activity reported with ACH-3102, our Phase 2, pan-genotypic, second-generation NS5A inhibitor, we believe that our HCV compounds are well-positioned to achieve positive results in the clinical studies we plan to initiate throughout 2014. We believe we have sufficient capital to fund our operations into 2016 and achieve a number of value-creating milestones throughout this year with our HCV assets.”
The development stage drug firm boasted of cash reserves of close to $150 million at the end of 2013, which it has indicated would broadly support the development of commercially viable therapies designed to alleviate the suffering of patients with chronic hepatitis C by administering their short duration treatments.
With respect to the 2014 Milestones, Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) reported the following roadmaps. For its target drug “ACH-3422: HCV Nucleotide NS5B Polymerase Inhibitor” the drug maker wants to progress its current pre-clinical trials into clinical tests with the phase 1 of these trials slated to being in mid 2014 and hopes to report initial results by third quarter of this year.
On its other lead drug candidate” ACH-3102 + sofosbuvir”, the drug maker has reported that it plans to kick start its phase 2 pilot study in the April to June’ 14 time frame and has planned a 8 week test period in which the chronic hepatitis C patients will be administered this test drug.