What's more, the company also recently announced the nomination of ACH-3422, which is a preclinical compound designed to inhibit
HCV NS5B polymerase
, a form of the hepatitis C virus.
The company expects to begin in-human studies of this new nomination by the first half of 2014, which will then be followed by combination development in the second half of that year.
Between ACH-1625, ACH-3102, and now ACH-3422, Achillion has plenty of offensive firepower to take on some of the bigger biotech rivals for years to come. And if the company can successfully launch any type of combo therapy to match a market leader like
, shares of Achillion should take off.
Accordingly, astute investors with an above-average risk tolerance should consider taking a position in the stock, especially given the recent drop. It's an overreaction.
With Achillion recently trading at $6.30, the stock has a chance to double over the next six to 12 months even with small breakthroughs in Sovaprevir.
At the time of publication, the author held no position in any of the stocks mentioned
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.