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Why Achillion Pharmaceuticals (ACHN) Stock Surged to a One-Year High Today

Stocks in this article: ACHN

NEW YORK (TheStreet) -- Achillion Pharmaceuticals (ACHN) surged to a 52-week high of $9.94 on Friday after the company announced its experimental hepatitis C drug ACH-3102 cured all patients in a mid-stage trial.

Interim results from the trial showed no detectable traces of the hepatitis C virus in 12 patients who took the drug in combination with Gilead Sciences'  (GILD) Sovaldi, also known as sofosbuvir, four weeks after treatment completion. Achillion announced it would start treatment on 12 additional patients for six weeks with a once-daily dose of the two drugs.

The trial did include an older hepatitis C drug called ribavirin, which had side effects including rashes and anemia.

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The stock was up 10.17% to $9.30 at 10:03 a.m. More than 8.2 million shares had changed hands, compared to the average volume of 6,590,670. ACHN Chart ACHN data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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