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TheStreet Open House

Why Achillion Pharmaceuticals (ACHN) Stock Is Up in After-Hours Trading Today

Stocks in this article: ACHN

NEW YORK (TheStreet) -- Achillion Pharmaceuticals ACHN rose in after-hours trading Tuesday after the company received a patent for its hepatitis C drug ACH-3102.

The U.S. Patent & Trademark Office granted U.S. Patent No. 8,809,313 to the company. The patent encompasses composition-of-matter and method of use claims for ACH-3102 and related NS5A inhibitor compounds, according to the company's statement. The patent term lasts until 2032.

ACH-3102 is Achillion's second-generation Phase 2 NS5A inhibitor and is being investigated as a treatment for chronic hepatitis C virus (HCV) infection.

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"We believe that this key patent grant will provide another important anchor for Achillion's intellectual property portfolio," said Achillion president and CEO Milind Deshpande. "With the issuance of this patent for our differentiated NS5A inhibitor, ACH-3102, along with the previously granted patent for sovaprevir, our NS3/4A protease inhibitor, we are pleased to recognize the talented Achillion team that discovered and has advanced these compounds into Phase 2 trials evaluating their use in all-oral combination regimens for the treatment of chronic HCV."

The stock was up 1.22% to $9.99 at 4:44 p.m. ACHN Chart ACHN data by YCharts

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