Achillion Pharma (ACHN) Misses Q4 EPS by 1c

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Achillion Pharma (ACHN) to Reduce Workforce by 20% as Part of Restructuring Plan

February 22, 2018 6:29 AM EST

Achillion Pharmaceuticals, Inc. (Nasdaq: ACHN), a clinical stage biopharmaceutical company focused on developing inhibitors of the complement alternative pathway, today announced an operational restructuring plan that aims to focus the organization on advancing Achillions existing clinical and late-stage preclinical factor D inhibitors and reduce expenses to maintain its strong balance sheet. The plan is expected to deliver approximately $10 million of savings in 2018 over 2017 expense levels. The restructuring will reduce the Companys workforce by approximately 20% to approximately 70 employees.

In addition, the Company announced... More