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Achillion Reports 2012 Fourth Quarter And Year-End Financial Results

Stocks in this article: ACHN

In addition, any forward-looking statement in this press release represents Achillion's views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. Achillion disclaims any obligation to update any forward-looking statement, except as required by applicable law.

-- Financial Tables Attached --

Statements of Operations  
(Unaudited, in thousands, except per share amounts)  
   Three Months Ended   Year Ended 
   December 31,   December 31, 
  2012 2011 2012 2011
Revenue  $ 118  $ 62  $ 2,607  $ 247
Operating expenses:        
Research and development  8,436  9,937  38,999  35,441
General and administrative   2,936  2,572  10,901  9,153
Total operating expenses  11,372  12,509  49,900  44,594
Loss from operations  (11,254)  (12,447)  (47,293)  (44,347)
Other income (expense):        
Interest income  66  72  234  186
Interest expense  (16)  (10)  (68)  (45)
Net loss  $ (11,204)  $ (12,385)  $ (47,127)  $ (44,206)
Net loss per share - basic and diluted   $ (0.14)  $ (0.18)  $ (0.64)  $ (0.69)
Weighted average shares outstanding - basic and diluted  79,523  69,755  73,965  64,248
Balance Sheets    
(Unaudited, in thousands)    
   December 31,   December 31,     
  2012 2011    
Cash and cash equivalents and marketable securities  $ 77,418  $ 79,943    
Working capital  58,731  46,148    
Total assets  81,530  82,630    
Long-term liabilities  347  2,718    
Total liabilities  9,483  11,662    
Total stockholders' (deficit) equity  72,047  70,968    
CONTACT: Company Contact:
         Glenn Schulman
         Achillion Pharmaceuticals, Inc.
         Tel. (203) 624-7000
         Mary Kay Fenton
         Achillion Pharmaceuticals, Inc.
         Tel. (203) 624-7000

         Christin Culotta Miller
         Ogilvy PR
         Tel. (212) 880-5264
         Seth Lewis
         The Trout Group, LLC
         Tel. (646) 378-2952

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