Achillion Pharmaceuticals Inc. again lost money in the fourth quarter as the New Haven drug developer continues pouring millions into its clinical testing of treatments against hepatitis C, HIV and other viral diseases.
For the three months ended Dec. 31, Achillion lost $6.2 million, or 11 cents a share, smaller than the loss of $6.7 million, or 25 cents a share, the same quarter in 2009.
Fourth-quarter revenue mushroomed to $2 million from $61,000 a year earlier.
For the year, Achillion lost $25.5 million, or 57 cents a share, in 2010 vs. a loss of $25.9 million, or 98 cents a share, in 2009.
CEO Michael Kishbauch said 2010 was “transformational” for the company as it continued to advance development of its pipeline of antiviral drug compounds.
For 2011, the company forecasts its net loss per share to be in the range of 65 cents to 70 cents a share.
