(RTTNews) -  Achillion Pharmaceuticals, Inc. (ACHN: News ), on Friday reported a narrower net loss for the third quarter of $6.4 million or $0.24 per share, compared with a net loss of $6.7 million or $0.31 per share in the same period last year. Quarterly revenues were negative $54 thousand , compared with $25 thousand last year.

On average, analysts polled by Thomson Reuters expected the company to post a loss of $0.21 per share on revenue of $110.00 million for the quarter. Analysts' estimates typically exclude special items

The company also announced completion of the phase 1a segment of its on-going clinical trial with ACH-1625, protease inhibitor for the treatment of hepatitis C virus, or HCV, infection.The company is currently completing the phase 1b segment of this trial in patients infected with HCV and plan to announce efficacy results in the first quarter 2010.
For the nine-month period, net loss narrowed to $19.21 million or $0.73 share from $19.45 million or $1.11 per share in the same period last year.

Revenues for nine months were negative $355 thousand, compared to $1.05 million in the same period last year.

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by RTT Staff Writer

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