Achillion Pharmaceuticals, Inc. (ACHN) swung to a net loss for the quarter ended Sep. 30, 2016. The company has made a net loss of $20.73 million, or $ 0.15 a share in the quarter, against a net profit of $26.26 million, or $0.19 a share in the last year period. The company has not recorded any revenues for the current quarter. However, it has reported a revenue of $33.82 million for the previous year period.
Operating loss for the quarter was $21.55 million, compared with an operating loss of $16.98 million in the previous year period.
"We continue to advance ACH-4471 and our platform of small molecule factor D inhibitors," commented Milind Deshpande, Ph.D., president and chief executive officer of Achillion. "Our strong balance sheet, together with our collaboration with Janssen who is developing JNJ-4178, a next-generation short-duration treatment regimen for HCV, enables us to focus on the discovery and development of what could be a game-changing approach to modulating diseases of the complement alternative pathway."
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