I sold about 25% of my position on Friday to take some profit off the table (http://investorshub.advfn.com/boards/read_msg.aspx?message_id=45304785&txt2find=achn ), but am still long the rest of my position. I'm very disappointed by the market reaction today. We now have further PoC for ACH-1625 and it appears that ACHN will test even lower doses of the drug and different dosing regimens in additional Phase 1b cohorts given that ACH-1625 still showed excellent potency dropping from 600mg BID down to 500mg BID. I would expect that they will try a QD dose cohort in this Phase 1b trial and/or try an additional BID dose somewhere below 500mg BID.
Given the sell-off today, I think it's going to take one of two things, if not both, to move the stock to a much higher level:
1. Proof of efficacy and safety of ACH-1625 in a QD dose given that this is one of the potential advantages of ACH-1625 over telaprevir and other HCV compounds; and/or
2. A lucrative partnership for ACH-1625.
Notwithstanding the risk of dilution from an offering, I'm comfortable in holding my existing position for one or both of these events. And if the stock drops much further, I will probably be a buyer again. Sub-$100M market cap doesn't seem right to me for what the company has accomplished up to this point.
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