Achillion Pharmaceuticals, Inc. (ACHN), a pharmaceutical company, Tuesday reported a wider loss for the first quarter, with total expenses slightly increased and nil revenues recognised during the period.
For the three-month period, the firm's net loss widened to $11.7 million or $0.14 per share, compared to $9.1 million or $0.13 per share during the corresponding quarter last year.
On average, eleven analysts polled by Thomson Reuters expected loss per share of $0.15 for the first quarter. Analysts' estimates typically exclude one-time items.
No revenue was recognized for the first quarter, compared with revenue of $2.5 million during the same period last year. The last year's revenues was related to recognition of deferred revenue under the Company's former collaboration with Gilead Sciences, Inc.
The company reported research and development expenses of $8.7 million compared with the last year's figure of $8.9 million.
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