Achillion Stock Jumps 83% As FDA Lifts Clinical Hold On Hepatitis C Drug

June 11, 2014 12:36 AM

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Shares of Achillion Pharmaceuticals Inc. (ACHN: Quote) surged 83 percent on Tuesday after the U.S. Food and Drug Administration lifted the clinical hold on the company's investigational hepatitis C drug sovaprevir.

This is the second time in as many days that Achillion shares have seen a rally. Yesterday, the stock surged to its highest level since late January, as investors, seeing promise for its hepatitis C pipeline, speculated that Achillino could be a takeover target.

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