Achillion Pharmaceuticals, Inc. (NASDAQ: ACHN) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced positive clinical data, exciting investors and sending the stock for the top. Today, we’ll talk about:
- The data;
- what we’re seeing from ACHN stock as a result; and
- what we’ll be watching for ahead.
ACHN Stock Is Climbing On Clinical Data
As mentioned above, Achillion Pharmaceuticals is having a great day in the market today after the company announced positive clinical data. The announcement came by way of press release early this morning.
In the release, the company reported interim data from a Phase 2 clinical trial. Through the trial, the company is assessing the safety and efficacy of its oral small molecule factor D inhibitor, known as ACH-4471, in combination with intravenous eculizumab. ACHN presented the data at The New Era of Aplastic Anemia and PNH Meeting in Naples, Italy.
The interim data reported came from 11 enrolled patients that were assessed between weeks 4 and 24. This depended on the patients current treatment duration in the dose escalating trial.
According to the release, the company saw increases in mean hemoglobin, a reduction in blood transfusions, meaningful improvement in Functional Assessment of Chronic Illness Therapy fatigue scores, an increase in the percentage of PNH RBC Type III close size, a reduction in total billrubin and a reduction in mean reticulocytes. The company also said that it saw further reduction of LDH to normal range
In a statement, Joseph Truitt, CEO at ACHN, had the following to offer:
Anemia is a persistent problem in the majority of patients with PNH treated with standard and even high doses of eculizumab. These interim data are encouraging and demonstrate that ACH-4471, when used in combination with a C5 inhibitor, such as eculizumab, has the potential to improve anemia, decrease transfusions and lead to improvement in important clinical parameters of hemolysis as well as quality of life measurements for patients with this devastating condition.
The above statement was followed up by Steven Zelenkofske, D.O., CMO at ACHN. Here’s what he had to offer:
In patients treated with C5 inhibitors alone, extravascular hemolysis (EVH) is an ongoing problem resulting in anemia with an impact on most of the clinical parameters of hemolysis. These interim findings from this important proof-of-concept trial show that if the alternative pathway is adequately inhibited, important parameters of EVH can be improved, including and most importantly hemoglobin, transfusion, bilirubin, reticulocyte count, and FACIT fatigue scores, when added to stable optimal dose eculizumab therapy. We look forward to completing the Phase 2 trial this summer and future discussions with the regulatory authorities. After completion of regulatory discussions, we hope to initiate a Phase 3 PNH combination trial of ACH-4471 with C5 inhibitors in the first half of 2020.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Achillion Pharmaceuticals, the news proved to be incredibly positive.
After all, the strong clinical data means that the ACH-4471 candidate is a promising one. So, it’s not surprising to see that excited investors are pushing the stock for the top.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:30), ACHN is trading at $3.36 per share after a gain of $0.30 per share or 9.80% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ACHN. In particular, we’re interested in following the continued development of ACH-4471 as the candidate seems to be showing promise. Nonetheless, we’ll keep an eye on the story and bring the news to you as it breaks!
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