Achillion Pharma (ACHN) to be acquired by Alexion (ALXN)

  

 

Achillion Pharma to be acquired by Alexion (ALXN) for $6.30/share in cash + CVRs worth up to $2.00/share
To be acquired by Alexion (ALXN) for an all-cash initial consideration of approx. $930 mln, or $6.30/share; potential additional contingent considerations, which hinge on clinical and regulatory developments such as FDA approval of danicopan and ACH-5228 Phase 3 initiation, could elevate the amount payable to co's shareholders to $8.30/share. Alexion looks forward to applying its "development expertise" to co's oral Factor D inhibitors in an endeavor to unlock the approach's potential and deliver benefits to patients. The stock moves to its highest levels in almost three years.

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Achillion Pharma (ACHN) terminates collaboration for hepatitis C with JnJ's Janssen

 

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Achillion Pharma terminates Worldwide Collaboration for Hepatitis C With JnJ's Janssen 

• Achillion Pharmaceuticals (ACHN) announced that on Saturday, September 9, 2017, it received notice of termination of the worldwide license and collaboration arrangement on hepatitis C with Janssen Pharmaceuticals, one of the Janssen Pharmaceutical Companies of Johnson & Johnson (JNJ).
• The notice follows the decision by Janssen announced to discontinue the development of the investigational hepatitis C treatment regimen JNJ-4178, a combination of three direct acting antivirals: AL-335, odalasvir and simeprevir.
• Co states: "We are disappointed by Janssen's decision to discontinue HCV development given the positive data presented in phase 2a with JNJ-41781, demonstrating a 100% cure rate after only six weeks of therapy. While we believe that patients worldwide would benefit from convenient, short-duration therapies like JNJ-4178, we remain fully focused on advancing our factor D portfolio of complement alternative pathway inhibitors in areas where patient needs are greatest, and using our strong balance sheet of almost $370 million in cash and cash equivalents at June 30, 2017 to do so."
• Also during the second half of 2017, Achillion anticipates initiating patient dosing in two phase 2 trials of ACH-4471 for patients with low C3 levels due to C3G or IC-MPGN. The first is an open-label, 14-day trial expected to enroll up to 10 patients, while the second is a placebo-controlled, double-blinded six-month trial expected to enroll 20 patients.

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Achillion Pharma (ACHN) reported earnings on Tue 8 Aug 2017 (a/h)

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Achillion Pharma reports EPS in-line

• Reports Q2 (Jun) loss of $0.16 per share, in-line with the Capital IQ Consensus of ($0.16).
• Updates:
  • Phase 2 clinical trials for untreated paroxysmal nocturnal hemoglobinuria (PNH)
    • To date, Achillion has data for four patients with PNH, two of whom have completed the three-month trial and have entered the long-term extension trial. One additional patient continues to receive dosing in the three-month trial and a fourth patient voluntarily withdrew from the trial on day 41 for reasons unrelated to safety. In summary, interim data from these ongoing trials demonstrated that ACH-4471 achieved clinically meaningful complement inhibition and demonstrated a favorable tolerability profile with no reports of clinically meaningful increases in liver enzymes. In this emerging data set, ACH-4471 has improved LDH, hemoglobin, fatigue score and other measures of response including PNH clone size. These interim results support the Company's global expansion plans for the PNH clinical program.
  • C3 glomerulopathy (C3G)
    
    • During the second half of 2017, Achillion anticipates initiating patient dosing in a phase 2 open-label trial of ACH-4471 for patients with low C3 levels due to C3G or immune-complex membranoproliferative glomerulonephritis (IC-MPGN). This 14-day trial is expected to enroll approximately 10 patients.
  • Update on World-wide Collaboration with Janssen (JNJ) for Chronic Hepatitis C Viral Infection (HCV)
    • In April 2017, Achillion reported that Janssen's OMEGA-1 global phase 2b clinical trial was fully enrolled with a total of 365 subjects. Results from this trial are anticipated during the second half of 2017.
• Cash, cash equivalents, marketable securities, and interest receivable as of June 30, 2017 were $369.9 million.

Achillion Pharma (ACHN) reported earnings on Thur 4 May 2017 (b/o)

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Achillion Pharma beats by $0.01 :

• Reports Q1 (Mar) loss of $0.15 per share, $0.01 better than the Capital IQ Consensus of ($0.16).
• PNH (Paroxysmal Nocturnal Hemoglobinuria)
  • Enrollment of patients into this trial in ongoing. Two patients have completed 28 days of dosing and each continues to receive longer term treatment, for up to an additional two months with ACH-4471, under the protocol. Interim results are anticipated during the second quarter.
• C3G (C3 Glomerulopathy)
  • As ACH-4471 has been shown in vitro to inhibit alternative pathway activity, potentially decreasing the formation of C3 protein fragments, the company plans to initiate a phase 2 study of ACH-4471 in C3G patients during the second half of 2017.
• OMEGA-1 Phase 2b
  • Results from this trial are anticipated during the second half of 2017.
• Cash, cash equivalents, marketable securities, and interest receivable as of March 31, 2017 were $386.6 million.