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10-Q - FORM 10-Q - ACHILLION PHARMACEUTICALS INCd230843d10q.htm
EX-31.1 - SECTION 302 CEO CERTIFICATION - ACHILLION PHARMACEUTICALS INCd230843dex311.htm
EX-32.2 - SECTION 906 CFO CERTIFICATION - ACHILLION PHARMACEUTICALS INCd230843dex322.htm
EX-31.2 - SECTION 302 CFO CERTIFICATION - ACHILLION PHARMACEUTICALS INCd230843dex312.htm
EX-32.1 - SECTION 906 CEO CERTIFICATION - ACHILLION PHARMACEUTICALS INCd230843dex321.htm
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Nature Of The Business
9 Months Ended
Sep. 30, 2011
Nature Of The Business [Abstract] 
Nature Of The Business

1. Nature of the Business

Achillion Pharmaceuticals, Inc. (the "Company") was incorporated on August 17, 1998 in Delaware. The Company is focused on discovering, developing and commercializing innovative anti-infective drug therapies. The Company is devoting substantially all of its efforts towards product research and development.

The Company incurred losses of $249,353 from inception through September 30, 2011 and had an accumulated deficit of $263,215 at September 30, 2011, which includes preferred stock dividends recognized until the Company's initial public offering in 2006. The Company has funded its operations primarily through the sale of equity securities, borrowings from debt facilities and the receipt of milestone and cost-sharing receipts from a collaboration partner, Gilead Sciences, Inc. ("Gilead").

The Company believes that its existing cash, cash equivalents and marketable securities will be sufficient to support its current operating plan through at least September 30, 2012. However, the Company's operating requirements may change as a result of many factors, including but not limited to:

 

   

the costs involved in the clinical development, manufacturing and formulation of the Company's protease inhibitors, ACH-1625 and ACH-2684, and its NS5A inhibitors, ACH-2928 and ACH-3102;

 

   

the Company's ability to enter into corporate collaborations for its chronic hepatitis C ("HCV") candidates and the terms and success of these collaborations;

 

   

any partnership opportunities that may arise for elvucitabine, ACH-702 or ACH-2881 that the Company determines to pursue;

 

   

the costs involved in obtaining regulatory approvals for the Company's drug candidates;

 

   

the scope, prioritization and number of programs the Company pursues;

 

   

the costs involved in preparing, filing, prosecuting, maintaining, enforcing and defending patent and other intellectual property claims;

 

   

the Company's ability to raise incremental debt or equity capital, including any changes in the credit market that may impact its ability to obtain capital in the future;

 

   

the Company's acquisition and development of new technologies and drug candidates; and

 

   

competing technological and market developments currently unknown to the Company.