Achillion Pharmaceuticals (ACHN) swung to a net loss for the quarter ended Dec. 31, 2016. The company has made a net loss of $4.43 million, or $ 0.03 a share in the quarter, against a net profit of $16.95 million, or $0.12 a share in the last year period.
Revenue during the quarter plunged 52.52 percent to $15 million from $31.59 million in the previous year period. Operating margin for the quarter stood at negative 35.26 percent as compared to a positive 52.23 percent for the previous year period.
Operating loss for the quarter was $5.29 million, compared with an operating income of $16.50 million in the previous year period.
"Achillion has established itself as a leader in complement alternative pathway AP research. With the advancement of ACH-4471 into the clinic, we were first to report inhibition of AP activity in humans after oral dosing, including robust suppression of Bb levels, an in vivo marker of biologic activity of Factor D," commented Milind Deshpande, Ph.D., president and chief executive officer of Achillion. "I am excited about the progress we have achieved in our portfolio of alternative pathway inhibitors and we remain focused on developing medicines for underserved C3G, PNH and dry AMD patients."
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