Biotech Values

[mcbio]

ACHN @ Bio (2/9/10)

http://ir.achillion.com/events.cfm

1. ACHN has apparently been given clearance by the FDA to proceed into the clinic with ACH-1095, the NS4A antagonist. The Phase 1 trials will be done in similar fashion to how they have developed ACH-1625 to date.

2. HCV market - Only 1/3 of current patients diagnosed and, of these, only 5% are treated. Therefore, only 1.6% of the HCV-afflicted population is treated.

3. "High likelihood" that ACH-1625 will be partnered "this year."

4. ACHN will likely partner ACH-2684 (lead compound in the newly-disclosed HCV program) apart from ACH-1625 and not as a package deal. Package deal will only be done if a prospective partner offers a "substantial premium."

5. FWIW, and it may not necessarily mean anything, for its 2010 milestones, ACHN lists an ACH-1625 partnership ahead of the initiation of the Phase 2 trial for ACH-1625.

6. ACH-702 - rapidly advancing partnership discussions for this compound and ACHN expects it may have a deal by 3Q/4Q10. A partnership for this compound could bring "significant up-front cash" for ACHN.