Disappointing mid-stage data for triple combo for HCV-3 sinks Achillion; shares down 12% [Seeking Alpha]
ACHISON INC A (ACHN)
Last achison inc a earnings: 11/7 07:30 am
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Source: Seeking Alpha
Achillion Pharmaceuticals ( ACHN ) is on the outside looking in at the market's and biotech's big up move today. Data presented at The International Liver Congress showed a 100% cure rate at weeks 6 and 8 for HCV genotype 1 for the triple combo of simeprevir, odalasvir and AL-335. For HCV genotype 3, though, there was not enough of an efficacy signal to warrant continued development. The negative result in the most treatment-resistant HCV genotype has spooked investors. Baird wasted little time in adjusting its outlook, cutting the price target in half to $5 (57% upside). Achillion's odalasvir, an NS5A inhibitor, is being developed by J&J's Janssen Pharmaceuticals under a May 2015 global agreement. Previously: Triple combo of simeprevir, odalasvir and AL-335 produced 100% cure rate in as little as six weeks in mid-stage HCV study (April 24) Now read: Can Synergy Pharmaceuticals Succeed On Its Own? »
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