Achillion Pharmaceuticals, Inc. Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Research and Development Expense Guidance for the Second Half and Year 2018
For the six months, the company reported loss from operations was $40,375,000 against $44,758,000 a year ago. Net loss was $37,787,000 against $42,695,000 a year ago. Net loss per share - basic and diluted was $0.27 against $0.31 a year ago.
The Company expects that research and development expense during the second half of 2018 will increase somewhat, consistent with previous guidance, and that general and administrative expenses will be consistent with the first half of the year. Annual total research and development expense is expected to be in the range of $55 million- $60 million and annual total general and administrative expense in the range of $22 million - $24 million. Annual cash utilization, which excludes non-cash expenses, is expected to be approximately $62 million - $65 million.