Achillion Pharmaceuticals ( ACHN) lost nearly half its value in after-hours action Thursday as the Connecticut-based biotech and its partner Gilead Sciences ( GILD) announced they will halt development of their hepatitis C treatment GS 9132, or ACH-806. The companies said preliminary results from the first cohort of an early-stage trial revealed "small elevations of serum creatinine," which can indicate impaired kidney function, despite inducing "significant reductions in hepatitis C viral load." The companies noted they're currently working to develop more compounds with "the same mechanism of action and similar in vitro potency" to the discontinued drug candidate. Achillion shares were falling $8.79 to $9.20. Gilead Sciences was down 66 cents, or 0.9%, to $71.50. Direct-marketer Zones ( ZONS) posted fourth-quarter profits of $3 million, or 20 cents a share, compared with last years' $2 million, or 14 cents a share. Revenue, at $160 million, was slightly higher than last year. Shares of the Auburn, Wash.-based company were soaring $1.44, or 17.5%, to $9.69. California-based photo-storage Web site Shutterfly ( SFLY) was surging on impressive fourth-quarter results. Fourth-quarter income totaled $12.2 million, nearly doubling from that available to common stockholders last year, and pro forma profits came to 49 cents a share. This compares with last year's $1.77-a-share earnings, but analysts polled by Thomson Financial were seeking only 38 cents a share. Revenue was up 47% to $123.4 million. Shares were bouncing $2.01, or 14.6%, to $15.75. Blue Coat Systems ( BCSI) boosted its sales outlook for the quarter ended Jan. 31, now expecting a top line of $45.5 million to $47.5 million, which hovers above the Street's $43.6 million consensus. The Sunnyvale, Calif., business software company's prior range was $40 million to $45 million. Shares were adding $1.73, or 6.2%, to $29.50.
Corillian ( CORI), which sells Internet-based software to financial services firms, posted fourth-quarter earnings of $2.1 million excluding items, or a nickel a share, on $16.5 million revenue. Last year, the Portland, Ore.-based company had a profit of $384,000, or a penny a share, on sales of $13.8 million. Wall Street was looking for 2 cents a share on revenue of $15.2 million. Looking ahead, the company expects its non-GAAP first-quarter bottom line to range between a 2-cents-per-share loss and a penny-a-share gain on sales ranging between $14.5 million and $16 million. One analyst is looking for 3 cents a share on $14.8 million revenue. Shares were up 20 cents, or 6.4%, to $3.35. Osteotech ( OSTE) was rising on word the Food and Drug Administration had approved its Plexur P product, a compound that simulates bone structure and can be used to fill bony voids of the pelvis and extremities. Shares of the Eatontown, N.J., company were up 27 cents, or 4.5%, to $6.24. Quicksilver ( ZQK) slid after the ski-apparel maker said the unseasonably warm recent weather melted down its fiscal 2007 earnings forecast to between 75 cents and 78 cents a share on sales of $2.43 billion to $2.46 billion. The California-based company's prior guidance had profits at 88 cents to 92 cents a share, with revenue expected at $2.5 billion. Analysts are looking for 91 cents a share on sales of $2.51 billion. Fiscal first-quarter earnings should come to 4 cents a share on $540 million sales. Shares were losing $1.53, or 10.5%, to $12.99.