Achillion updates guidance

Achillion Pharmaceuticals (ACHN) plans to complete the Phase 1 drug-drug interaction study evaluating ACH-3102 in combination with ACH-2684 in the second quarter. A Phase 2 trial will begin shortly thereafter.

A Phase 1 trial evaluating ACH-3422 will begin ex-US in the second quarter with proof-of-concept results expected by Q3.

A data package addressing the clinical hold of sovaprevir by the FDA will be submitted shortly. The firm expects a response in the first half.

Quick assets totaled $159M at years end. The company expects to burn $60M - $65M in 2014. Net loss will be ~$.70/share.

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