Achillion Pharmaceuticals, Inc. (NASDAQ: ACHN)
Achillion Pharmaceuticals is having a strong start in the pre-market hours today, and for good reason. The commpany has been issued a patent. As a result, the stock is soaring, and as soon as the gains started, our partners at Trade Ideas alerted us of the movement. At the moment (8:34), ACHN is trading at $4.00 per share after a gain of $0.16 per share or 4.17% thus far today.
ACHN Awarded Patent
As mentioned above, Achillion Pharmaceuticals is having a strong time in the market after being awarded a patent. The patent surrounds compositions of matter for compounds that inhibit complement factor D activity. This is a key mediator in the complement alternative pathway, also known as AP. In a statement, Millind Deshpande, Ph.D., President and CEO at ACHN had the following to offer with regard to the patent…
“Achillion’s aim is to establish a broad patent portfolio for its complement program. With the granted of this first patent we are pleased that the USPTO has confirmed that Achillion possesses a multitude of patentable complement factor D inhibitors… As a leader in AP biology, we are proud to have been the first to clinically demonstrate, in healthy volunteers, the ability to suppress AP activity following oral dosing of our complement factor D inhibitor, ACH-4471. The receipt of this patent, along with the number of additional patent applications under review by the USPTO, strengthens our position as a leader in factor D inhibitors for the potential treatment of AP-mediated diseases, such as C3G, PNH and geographic atrophy.”
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be watching ACHN incredibly closely. In particular, we’re interested in following the company’s ongoing work with regard to ACH-4471. Nonetheless, we’ll continue to follow the story closely and bring you the updates as they break.
What Do You Think?
Where do you think ACHN is headed moving forward?
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