Achillion Pharmaceuticals is having an incredible day in the market after announcing interim results from a Phase 2 study evaluating odalasvir, an NS5A inhibitor. Today, we’ll take a look at the interim data offered by the company, how the market reacted to the news, and what we can expect to see moving forward. So, let’s get right to it…
Achillion Pharmaceuticals Announces Positive Phase 2 Study Data
Achillion Pharmaceuticals announced additional interim results from a Phase 2 study evaluating odalasvir (A.K.A. ACH-3102) which is an NS5A inhibitor. The treatment is being tested in combination with sofosbuvir, without ribavirin, for either six or eight weeks of treatment in patients with treatment-naive genotype 1 chronic hepatitis C virus. According to the data that was released, 100% of the patients treated for six weeks remained HCV RNA undetectable twelve weeks after completing therapy.
How The Market Reacted To The News
As we’ve come to expect any time a biotech company releases positive news, ACHN produced gains in the market today. Currently (12:12), the stock is trading at $8.10 per share after a gain of 1.38% so far today.
What We Can Expect To See Moving Forward
We saw from Gilead Sciences what a positive HCV treatment that doesn’t include the use of ribavirin can do for a company and, from recent studies, it seems as though Achillion has found one. With that said, it made sense to me why AbbVie’s treatment didn’t take a stronghold over the market to beat out GILD. However, Achillion has a real chance of competing considering the lack of ribavirin, low adverse events rate, and high success rate. With that said, I’m expecting to see a continuation of positive news from ACHN moving forward.
What Do You Think?
Where do you think ACHN is headed and why? Let us know your opinion in the comments below!
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