Achillion (ACHN)
investors got a huge piece of bad news on Monday evening, when this
biotech virology specialist announced that its lead protease inhibitor
for hepatitis C (HCV), sovaprevir, has been placed on clinical hold by
the FDA after troubling safety data. With the stock down sharply in
after-hours trading, this is clearly a major near-term problem for the
company and the stock, and it definitely raises troubling questions
about the safety profile of this drug.
While I do not believe this
development devastates the long-term potential of the drug in HCV
treatment, it most likely freezes any possibility of an acquisition and
it is almost certainly going to appear as an issue if/when the company
files for FDA approval.
Please continue here:
How Bad Will The Partial Hold On Sovaprevir Be For Achillion?
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