Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) announced today that Alios Biopharma Inc., part of the Janssen Pharmaceutical Companies (Janssen) has initiated treatment in a phase 2a clinical trial to evaluate the safety, pharmacokinetics and efficacy of AL-335, odalasvir (also known as ACH-3102), and simeprevir in treatment-naïve patients with genotype 1 chronic hepatitis C virus (HCV) infection.
This phase 2a study is a randomized, open-label, three-arm study of AL-335, a nucleotide-based HCV NS5B polymerase inhibitor, odalasvir, an HCV NS5A inhibitor, and simeprevir, an HCV NS3/4A protease inhibitor. Patients will be randomized to one of three treatment arms and receive once daily treatment for a duration of four, six or eight weeks. The primary objective of the study is to establish the safety of the treatment regimen with secondary endpoints consisting of pharmacokinetics, the proportion of subjects achieving sustained viral response (SVR), and the effect on the viral resistance profile after treatment. The study is expected to enroll approximately 60 patients across the three treatment arms.
As previously announced on May 19, 2015, Achillion has granted Janssen an exclusive, worldwide license to develop and, upon regulatory approval, commercialize HCV products and regimens containing one or more of Achillion’s HCV assets which include odalasvir (ACH-3102), ACH-3422, and sovaprevir. (Original Source)
Shares of Achillion Pharmaceuticals are trading up 1.58% to $7.72. ACHN has a 1-year high of $16.87 and a 1-year low of $6.41. The stock’s 50-day moving average is $7.65 and its 200-day moving average is $8.70.
On the ratings front, Achillion has been the subject of a number of recent research reports. In a report issued on September 8, UBS analyst Andrew Peters upgraded ACHN to Buy, with a price target of $11.50, which represents a potential upside of 51.3% from where the stock is currently trading. Separately, on August 13, Maxim Group’s Jason Kolbert reiterated a Buy rating on the stock and has a price target of $11.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Andrew Peters and Jason Kolbert have a total average return of -7.7% and -15.8% respectively. Peters has a success rate of 34.8% and is ranked #3366 out of 3779 analysts, while Kolbert has a success rate of 25.7% and is ranked #3777.
Achillion Pharmaceuticals Inc is a biopharmaceutical company which focuses on the discovery, development and commercialization of treatments for infectious diseases like hepatitis C virus, or HCV, infection that are once-daily and ribavirin-free.