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DewDiligence

12/27/14 11:19 AM

#185197 RE: frontiers #185195

ACHN—Your (latest) thesis is off-base, IMO. You’re now using a GILD trial of two nukes (one of which failed) to predict the trial outcome of ACHN’s combination of a nuke and an NS5A inhibitor!

Your prognostications of great success for ACHN have a familiar pattern: they are based on purported evidence of efficacy and safety derived from either your reading of patent filings or from another company’s clinical data. You previously described ACH-3422 as a turbocharged Sovaldi, which we now know isn't the case.

In truth, you won’t know whether ACHN has a competitive HCV regimen until ACHN completes combination studies of ACH-3102 + ACH-3422 (+ possibly Sovaprevir).