Investor Relations (IR) Questions: Achillion Pharmaceuticals ACHN
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Information updated: June 2013
-1- When is the last time ACHN raised cash through an offering (diluted)?
-a- On February 23, 2013 the Company announced the sale of 15,000,000 shares of its common stock at a $8.40 a share. Underwriters were given a 30 day option to purchase up to 2,250,000 additional shares.
-b- The offering closed on February 27, 2013. Including options exercised, 16,894,410 shares sold. The company estimated net proceeds at $133.5 million after fees and commissions related the offering.
-2- How much cash (not cash equivalents) does ACHN have?
-c- As of March 31, 2013, the Company reported having $200.9 million in cash, cash equivalents, marketable securities and interest receivable.
-d- Actual cash and cash equivalents totaled $39,398,000 on March 31, 2013. Marketable securities were $160,541,000.
-3- What and approximately when is the next known catalyst(s)?
-e- The following is an excerpt from “Achillion Reports First Quarter 2013 Financial Results”:
"We recently initiated an all-oral Phase 2 program evaluating sovaprevir and ACH-3102 for the treatment of genotype 1 HCV, and we expect to achieve a number of significant catalysts over the next few months including interim RVR results from the -007 trial in the third quarter, followed by SVR results during the fourth quarter.”
-f- On April 23, 2013, the company published an update with promising new data from its pilot Phase 2 trial evaluating once-daily ACH-3102 plus ribavirin in treatment-naive patients with genotype 1b, IL28B CC subtype, chronic hepatitis C virus infection. The Company expects to present the study's final results at a medical conference later this year.
-g- The Company expects to advance its preclinical compound, ACH-3422 to a development candidate for the treatment of chronic hepatitis C. Regulatory submissions are expected in first quarter of 2014. The company anticipates first-in-human studies in the first half of 2014. Combination development is expected in the second half of 2014.
-4- What is ACHN's quarterly cash burn?
-h- Total operating expenses for the first three months of 2013 were $11,793,000 compared to $11,681,000 for the same period in 2012.
-i- Total Operating Expenses by Year:
2012.........$49,900,000
2011.........$44,594,000
2010.........$27,734,000
2009.........$25,246,000
-5- Does ACHN have an existing line of credit and if so how much can they draw against it?
-j- The company has a $2,000,000 credit facility with Webster Bank.
-k- As of March 31, 2013 the outstanding debt with Webster Bank was $611,000.
A complete archive of #IRQ research and IR responses can be found athttp://www.biotechduediligence.com/ir-questions.html.
REFERENCES:
-a- ACHN PR 02/23/2013 http://ir.achillion.com/releasedetail.cfm?ReleaseID=742363
-b- ACHN PR 02/27/2013 http://ir.achillion.com/releasedetail.cfm?ReleaseID=743832
-c- ACHN PR 05/07/2013 http://ir.achillion.com/releasedetail.cfm?ReleaseID=762469
-d- Page 3, ACHN 10-Q http://ir.achillion.com/secfiling.cfm?filingID=1193125-13-204404
-e- ACHN PR 05/07/2013 http://ir.achillion.com/releasedetail.cfm?ReleaseID=762469
-f- ACHN PR 04/23/2013 http://ir.achillion.com/releasedetail.cfm?ReleaseID=758318
-g- ACHN PR 05/30/2013 http://ir.achillion.com/releasedetail.cfm?ReleaseID=768019
-h- Page 4, ACHN 10-Q http://ir.achillion.com/secfiling.cfm?filingID=1193125-13-204404
-i- Page 46, ACHN 10-K: http://files.shareholder.com/downloads/ACHN/2528068444x0x654100/88E6034F-B152-4D34-994F-0FD74E8AC637/ACHN_2012_Annual_Report.pdf
-j- ACHN 8-K 3/21/2011 http://www.faqs.org/sec-filings/110325/ACHILLION-PHARMACEUTICALS-INC_8-K/
-k- Page 9, ACHN 10-Q http://ir.achillion.com/secfiling.cfm?filingID=1193125-13-204404
-1- When is the last time ACHN raised cash through an offering (diluted)?
-a- On February 23, 2013 the Company announced the sale of 15,000,000 shares of its common stock at a $8.40 a share. Underwriters were given a 30 day option to purchase up to 2,250,000 additional shares.
-b- The offering closed on February 27, 2013. Including options exercised, 16,894,410 shares sold. The company estimated net proceeds at $133.5 million after fees and commissions related the offering.
-2- How much cash (not cash equivalents) does ACHN have?
-c- As of March 31, 2013, the Company reported having $200.9 million in cash, cash equivalents, marketable securities and interest receivable.
-d- Actual cash and cash equivalents totaled $39,398,000 on March 31, 2013. Marketable securities were $160,541,000.
-3- What and approximately when is the next known catalyst(s)?
-e- The following is an excerpt from “Achillion Reports First Quarter 2013 Financial Results”:
"We recently initiated an all-oral Phase 2 program evaluating sovaprevir and ACH-3102 for the treatment of genotype 1 HCV, and we expect to achieve a number of significant catalysts over the next few months including interim RVR results from the -007 trial in the third quarter, followed by SVR results during the fourth quarter.”
-f- On April 23, 2013, the company published an update with promising new data from its pilot Phase 2 trial evaluating once-daily ACH-3102 plus ribavirin in treatment-naive patients with genotype 1b, IL28B CC subtype, chronic hepatitis C virus infection. The Company expects to present the study's final results at a medical conference later this year.
-g- The Company expects to advance its preclinical compound, ACH-3422 to a development candidate for the treatment of chronic hepatitis C. Regulatory submissions are expected in first quarter of 2014. The company anticipates first-in-human studies in the first half of 2014. Combination development is expected in the second half of 2014.
-4- What is ACHN's quarterly cash burn?
-h- Total operating expenses for the first three months of 2013 were $11,793,000 compared to $11,681,000 for the same period in 2012.
-i- Total Operating Expenses by Year:
2012.........$49,900,000
2011.........$44,594,000
2010.........$27,734,000
2009.........$25,246,000
-5- Does ACHN have an existing line of credit and if so how much can they draw against it?
-j- The company has a $2,000,000 credit facility with Webster Bank.
-k- As of March 31, 2013 the outstanding debt with Webster Bank was $611,000.
A complete archive of #IRQ research and IR responses can be found athttp://www.biotechduediligence.com/ir-questions.html.
REFERENCES:
-a- ACHN PR 02/23/2013 http://ir.achillion.com/releasedetail.cfm?ReleaseID=742363
-b- ACHN PR 02/27/2013 http://ir.achillion.com/releasedetail.cfm?ReleaseID=743832
-c- ACHN PR 05/07/2013 http://ir.achillion.com/releasedetail.cfm?ReleaseID=762469
-d- Page 3, ACHN 10-Q http://ir.achillion.com/secfiling.cfm?filingID=1193125-13-204404
-e- ACHN PR 05/07/2013 http://ir.achillion.com/releasedetail.cfm?ReleaseID=762469
-f- ACHN PR 04/23/2013 http://ir.achillion.com/releasedetail.cfm?ReleaseID=758318
-g- ACHN PR 05/30/2013 http://ir.achillion.com/releasedetail.cfm?ReleaseID=768019
-h- Page 4, ACHN 10-Q http://ir.achillion.com/secfiling.cfm?filingID=1193125-13-204404
-i- Page 46, ACHN 10-K: http://files.shareholder.com/downloads/ACHN/2528068444x0x654100/88E6034F-B152-4D34-994F-0FD74E8AC637/ACHN_2012_Annual_Report.pdf
-j- ACHN 8-K 3/21/2011 http://www.faqs.org/sec-filings/110325/ACHILLION-PHARMACEUTICALS-INC_8-K/
-k- Page 9, ACHN 10-Q http://ir.achillion.com/secfiling.cfm?filingID=1193125-13-204404