Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) recently reported that its second-quarter loss was slightly larger than analysts had predicted, and that its hepatitis C drug did not bring in any revenue, sending the company's small cap stock lower.
The pharmaceutical firm announced that it has a number of potential hepatitis treatments in early and mid-stage testing, however without a single product on the market, it struggled to bring in any revenue.
The company is hoping to break into the market with its drug for hepatitis C, which has shown to be a hard-to-treat disease that can cause significant liver damage. Health officials say the market for a successful treatment would be highly lucrative, which has led a number of pharmaceutical companies to enter the race.
The demand for such a drug is expected to grow even more as the baby boomer generation continues to age, and hepatitis C diagnoses rise.
But without a product on the shelves, Achillion will likely continue to suffer.
As of 4:07 on August 9, the company's stock was down 8.8 percent to $5.82.