February 22, 2018 / 11:15 AM / 3 months ago

BRIEF-Achillion Forecasts 2018 Loss Of $0.55-$0.58 Per Share

Feb 22 (Reuters) - Achillion Pharmaceuticals Inc:

* ACHILLION ANNOUNCES RESTRUCTURING TO ADVANCE CORPORATE STRATEGY; ANNOUNCES 2017 FOURTH QUARTER AND FULL YEAR FINANCIAL RESULTS

* SEES FY 2018 LOSS PER SHARE $0.55 TO $0.58

* JOSEPH TRUITT, CHIEF OPERATING OFFICER, PROMOTED TO PRESIDENT OF ACHILLION

* SEEKING TO GENERATE ADDITIONAL DATASETS WITH ACH-4471 IN BOTH C3G AND PNH PROGRAMS IN 2018

* RESTRUCTURING WILL REDUCE COMPANY’S WORKFORCE BY APPROXIMATELY 20% TO APPROXIMATELY 70 EMPLOYEES.

* ACHILLION - RESTRUCTURING PLAN EXPECTED TO DELIVER ABOUT $10 MILLION OF SAVINGS IN 2018 OVER 2017 EXPENSE LEVELS

* FY2018 EARNINGS PER SHARE VIEW $-0.71 — THOMSON REUTERS I/B/E/S

* ACHILLION - DUE TO RESTRUCTURING, EXPECT RESEARCH AND DEVELOPMENT EXPENSES DURING 2018 WILL BE ABOUT $58 MILLION - $60 MILLION

* QTRLY LOSS PER SHARE $0.17

* Q4 EARNINGS PER SHARE VIEW $-0.16 — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)

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