Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) Investor Investigation Over Potential Securities Laws Violations

If you purchased shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN), you have certain options and you should contact the Shareholders Foundation, Inc.

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Company Name(s): 
Achillion Pharmaceuticals
Affected Securities: 

October 1, 2013 (Shareholders Foundation) - An investigation on behalf of investors of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) shares over potential securities laws violations by Achillion Pharmaceuticals and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) concerning whether a series of statements by Achillion Pharmaceuticals, regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Achillion Pharmaceuticals, Inc. reported that its annual Total Revenue rose from $0.25 million in 2011 to $2.61 million in 2012, while its Net Loss increased from $44.21 million in 2011 to $47.13 million in 2012.

Shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) grew from $2.75 per share in late 2010 to as high as $12.37 per share in early 2012. However, shares declined from over $11 per share in Fall 2012 to almost $6 per share in July 2012.

On Sept. 27, 2013 Achillion Pharmaceuticals, Inc. provided an update on development of compounds in its pipeline of therapies for the treatment of chronic hepatitis C virus, or HCV. Achillion Pharmaceuticals, Inc said that on Sept. 27, 2013 it received a response from the U. S. Food and Drug Administration (”FDA”), on the clinical hold related to sovaprevir, Achillion Pharmaceuticals' NS3 protease inhibitor. Achillion Pharmaceuticals, Inc said that the FDA response indicated that, while Achillion Pharmaceuticals' submission addressed all issues noted in the FDA's June 29, 2013 letter, the FDA concluded that the removal of the clinical hold is not warranted.

Shares of Achillion Pharmaceuticals, Inc dropped from $7.40 per share on Sept. 27, 2013, to $2.65 per share on Oct. 1, 2013.