ACHN stock is moving up in Friday’s session after Achillion Pharmaceuticals Inc. (NASDAQ:ACHN)’s reported positive interim data for ACH-4471.
When it comes to pharmaceutical companies, the big triggers in terms of stock price jumps almost always comes from positive news regarding medicine and that is what happened with the ACHN stock.
The clinical-stage biopharmaceutical company has been on a tear in early morning trade on Friday primarily due to positive news about clinical testing data for one of its flagship drugs – ACH-4471.
Impressive Clinical Results
For ACHN stock investors, this is an extremely important drug and the data that was released belonged to the second phase of the clinical trials. The results from the clinical trial are quite positive and it is no surprise that the company’s stock went up this morning. The drug was tested on 11 patients and the results were monitored over the course week 4 through to week 11 of treatment.
Following the trials, it was noticed that there was a reduction in blood transfusions and the average haemoglobin count the patients increased as well. In addition to that, the LDH also went down to normal levels in the patients on whom the drug was tested.
ACHN Stock Gains Momentum
After the news went public, the stock started climbing in early trade and rose by as much as 7 % today to touch $3.25.
The current optimism is clearly tied to the positivity surrounding the ACH-4471 drug and the possibility of it becoming a popular drug for anemia. However, there is a long way to go before it is approved and actually hits the market.
Joseph Truitt, the Chief Executive Officer of Achhillon Pharmaceuticals sounded optimistic in his statement regarding the development. He stated that the test data is encouraging and it goes to show the positive effect ACH-4471 can have on patients suffering from anemia.
Are you optimistic On ACHN stock after today’s positive development?