Report

Outlook: Building a diversified pipeline

Achillion is steadily progressing its novel factor D program, with recent newsflow on interim Phase I results for ACH-4471 and the start of Phase Ib/II trials in paroxysmal nocturnal hemoglobinuria (PNH) and C3 glomerulopathy by the end of 2016. The company remains well capitalized following its partnership with Janssen in mid-2015. With data from the Phase III study of a promising hep C (HCV) combined regimen slated for 2018, Achillion is well on the path to potential profitability by end 2019 on our estimates. We value the company at $2.4bn ($17.3/share).
Underlying
Achillion Pharmaceuticals Inc.

Achillion Pharmaceuticals is a biopharmaceutical company. The company is engaged in the discovery and development of small molecule drug therapies for immune system disorders. The company is advancing orally administered small molecules from its platform that target complement factor D, an essential protein of the alternative pathway. The alternative pathway plays a role in a number of disease conditions, including therapeutic areas of nephrology, hematology, ophthalmology and neurology. Initially Co. is targeting C3 glomerulopathy, and immune complex membranoproliferative glomerulonephritis, two related rare diseases affecting the kidney, and paroxysmal nocturnal hemoglobinuria, a blood disorder.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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