Dallas, Texas 01/16/2014 (FINANCIALSTRENDS) – Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN), the $360 million market capped development stage drug maker earlier this week announced positive updates on its candidate compounds which are being designed to treat Hepatitis C. It also provided updates on the redrawn milestones that the company has drawn up to develop these compounds into commercially marketable products.
The development stage drug marker with its head quarters in Connecticut believes that it has a wide spectrum target compounds which could be successfully developed into HCV curable drugs, which will emerge as commercially competitive.
Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) President and Chief Executive Officer Dr. Milind Deshpande has been quoted as saying, “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.”
The drug maker also disclosed that at the end of 2013 its cash at hand was $150 million and has voiced confidence that with the available cash, it would be able to successfully carry on the various clinical trials right through to 2016. Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) hopes to be in a position to return share holder value by creating valuable drugs designed to treat HCV diseases by 2016.
Some of the significant milestones for 2014 are as follows:
- ACH-3422: HCV Nucleotide NS5B Polymerase Inhibitor
Data sets available from pre clinical trials have encouraged the firm to push ACH-3422 into clinical trials. Phase 1 trials for its “first-in-human trial ex-US” are expected to be initiated in “April to June” 2014 time frame.
- ACH-3102 + sofosbuvir
Phase 2 study is expected to commence in second quarter of 2014 for this target drug
- ACH-3422 + ACH-3102 +/- NS3/4A protease inhibitor
All-oral Phase 2 study designed to evaluate ACH-3422 is expected to be kicked off by December 2014.