Oppenheimer Comments On 4Q10 Results For Achillion Pharmaceuticals

In a report published by Oppenheimer, Achillion Pharmaceuticals ACHN reported 4Q10 results and the company will report the first ph.II data (28-day) for lead HCV candidate ACH-1625 in the next several weeks.

Oppenheimer said that, based on antiviral activity in ph.Ib, it expects '1625 will show RVR rates competitive with later-stage PIs. “Based on scarcity value, we continue to view '1625 as partnerable. Although a deal following the 28-day results is possible, we believe positive 12-week safety data in late '11 would give ACHN the highest partnership leverage. We see potential near-term upside in ACHN on the 28-day data, but we believe these results will not define '1625's ultimate safety profile. Overall, we believe ACHN's current valuation adequately reflects the early promise of the company's HCV pipeline.”

Achillion Pharmaceuticals closed yesterday at $5.88.