Achieve Life Sciences Announces Proposed Underwritten Public Offering
Achieve Life Sciences (NASDAQ:ACHV), a late-stage pharmaceutical company developing cytisinicline for smoking cessation, has announced a proposed underwritten public offering of common stock and accompanying warrants. The offering includes pre-funded warrants and grants underwriters a 30-day option to purchase up to an additional 15% of shares and warrants.
The company plans to use the proceeds to fund the advancement of cytisinicline through potential FDA marketing approval and for working capital. Citizens Capital Markets and Raymond James are serving as joint book-running managers, with Lake Street Capital Markets as financial advisor.
Achieve Life Sciences (NASDAQ:ACHV), un'azienda farmaceutica in fase avanzata che sviluppa cytisinicline per la cessazione del fumo, ha annunciato un'offerta pubblica sottoscritta di azioni ordinarie e warrant correlati. L'offerta include warrant pre-finanziati e concede agli underwriter un'opzione di 30 giorni per acquistare fino al 15% aggiuntivo di azioni e warrant.
L'azienda prevede di utilizzare i proventi per finanziare l'avanzamento di cytisinicline verso una possibile approvazione commerciale da parte della FDA e per il capitale operativo. Citizens Capital Markets e Raymond James agiscono come joint book-running manager, con Lake Street Capital Markets come consulente finanziario.
Achieve Life Sciences (NASDAQ:ACHV), una empresa farmacéutica en etapa avanzada que desarrolla cytisinicline para la cesación del tabaquismo, ha anunciado una oferta pública suscrita de acciones comunes y warrants asociados. La oferta incluye warrants prefinanciados y otorga a los suscriptores una opción de 30 días para comprar hasta un 15% adicional de acciones y warrants.
La compañía planea usar los fondos para financiar el avance de cytisinicline hacia una posible aprobación comercial de la FDA y para capital de trabajo. Citizens Capital Markets y Raymond James actúan como gestores conjuntos del libro, con Lake Street Capital Markets como asesor financiero.
Achieve Life Sciences (NASDAQ:ACHV)는 금연 치료제인 사이티시닐린(cytisinicline)을 개발하는 후기 단계 제약회사로, 보통주 및 동반 워런트의 공모를 제안했다고 발표했습니다. 이번 공모에는 선지급 워런트가 포함되며, 인수인에게 추가로 최대 15%의 주식 및 워런트를 30일간 매입할 수 있는 옵션이 부여됩니다.
회사는 이번 자금으로 FDA 마케팅 승인 가능성을 위한 사이티시닐린 개발을 진행하고 운전자본으로 활용할 계획입니다. Citizens Capital Markets와 Raymond James가 공동 주관사로 참여하며, Lake Street Capital Markets가 재무 자문을 맡고 있습니다.
Achieve Life Sciences (NASDAQ:ACHV), une entreprise pharmaceutique en phase avancée développant la cytisinicline pour l'arrêt du tabac, a annoncé une offre publique souscrite d'actions ordinaires et de bons de souscription associés. L'offre comprend des bons de souscription préfinancés et accorde aux souscripteurs une option de 30 jours pour acheter jusqu'à 15 % supplémentaires d'actions et de bons.
La société prévoit d'utiliser les fonds pour financer l'avancement de la cytisinicline en vue d'une éventuelle approbation commerciale par la FDA et pour le fonds de roulement. Citizens Capital Markets et Raymond James agissent en tant que gestionnaires principaux conjoints, avec Lake Street Capital Markets comme conseiller financier.
Achieve Life Sciences (NASDAQ:ACHV), ein Pharmaunternehmen in der späten Entwicklungsphase, das Cytisiniclin zur Raucherentwöhnung entwickelt, hat ein geplantes öffentliches Angebot von Stammaktien und begleitenden Warrants angekündigt. Das Angebot beinhaltet vorfinanzierte Warrants und gewährt den Underwritern eine 30-tägige Option, bis zu 15 % zusätzliche Aktien und Warrants zu erwerben.
Das Unternehmen plant, die Erlöse zur Förderung der Zulassung von Cytisiniclin durch die FDA sowie für Betriebskapital zu verwenden. Citizens Capital Markets und Raymond James fungieren als gemeinsame Bookrunner, Lake Street Capital Markets als Finanzberater.
- Proceeds will support advancement of cytisinicline through potential FDA approval
- Multiple established financial institutions involved as underwriters
- Potential dilution for existing shareholders
- Uncertain offering terms and timing
- Additional share issuance may pressure stock price
Insights
Achieve Life Sciences' public offering signals potential dilution but provides crucial funding for FDA approval process of cytisinicline.
Achieve Life Sciences (NASDAQ: ACHV) has announced a proposed underwritten public offering of common stock and accompanying warrants, a move that typically indicates the company needs to strengthen its cash position. The offering includes both shares and pre-funded warrants, with a 30-day option for underwriters to purchase an additional 15% of securities.
This capital raise comes at a critical juncture as the company approaches potential FDA approval for cytisinicline, its smoking cessation drug. The explicit mention of using proceeds for "continued advancement of cytisinicline through potential U.S. Food and Drug Administration marketing approval" suggests the company is positioning itself financially for the final regulatory hurdles and potential commercialization.
While necessary for clinical-stage biotechs, this offering will likely result in shareholder dilution, as new shares enter the market. The inclusion of warrants further compounds potential future dilution. The company has engaged Citizens Capital Markets and Raymond James as joint book-running managers, indicating a structured approach to this capital raising effort.
The lack of pricing details in this announcement is standard practice, as final terms will be disclosed in a subsequent prospectus supplement. Investors should note that the company appropriately cautions that the offering is subject to market conditions and may not be completed as anticipated. This capital infusion, if successful, will strengthen Achieve's financial position as it pursues the potentially lucrative smoking cessation market with its lead asset cytisinicline.
SEATTLE and VANCOUVER, British Columbia, June 26, 2025 (GLOBE NEWSWIRE) -- Achieve Life Sciences, Inc. (Nasdaq: ACHV), a late-stage specialty pharmaceutical company focused on the global development and commercialization of cytisinicline as a treatment of nicotine dependence for smoking cessation, today announced a proposed underwritten public offering in which it intends to offer and sell shares of its common stock (or pre-funded warrants to purchase common stock in lieu thereof) and accompanying common warrants to purchase common stock (or pre-funded warrants to purchase common stock in lieu thereof). In addition, Achieve intends to grant the underwriters a 30-day option to purchase up to an additional
Citizens Capital Markets and Raymond James are acting as the joint book-running managers for the proposed offering. Lake Street Capital Markets, LLC is acting as financial advisor to Achieve in the proposed offering.
Achieve intends to use the proceeds from the offering to fund continued advancement of cytisinicline through potential U.S. Food and Drug Administration marketing approval of cytisinicline and for working capital and general corporate purposes.
The securities are being offered by Achieve pursuant to a registration statement on Form S-3 previously filed and declared effective by the Securities and Exchange Commission (SEC). A preliminary prospectus supplement and accompanying prospectus relating to this offering will be filed with the SEC. When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained from: Citizens Capital Markets, 450 Park Avenue, 5th Floor, New York, NY 10022, or by calling (415) 835-8985, or by email at syndicate@jmpsecurities.com and Raymond James at Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, by telephone at (800) 248-8863, or by email at prospectus@raymondjames.com. Electronic copies of the preliminary prospectus supplement and accompanying prospectus will also be available on the website of the SEC at http://www.sec.gov. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Achieve, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Achieve Life Sciences, Inc.
Achieve Life Sciences is a late-stage specialty pharmaceutical company committed to addressing the global smoking health and nicotine dependence epidemic through the development and commercialization of cytisinicline. In June 2025, the company submitted its New Drug Application to the FDA for cytisinicline as a treatment of nicotine dependence for smoking cessation in adults, based on two successfully completed Phase 3 studies and its fully enrolled open-label safety study. Additionally, the company has completed a Phase 2 study with cytisinicline in vaping cessation and conducted a successful end-of-Phase 2 meeting with the FDA for a future vaping indication.
About Cytisinicline
There are approximately 29 million adults in the United States who smoke combustible cigarettes.1 Tobacco use is currently the leading cause of preventable death that is responsible for more than eight million deaths worldwide and nearly half a million deaths in the United States annually.2,3 More than
In addition, there are approximately 17 million adults in the United States who use e-cigarettes, also known as vaping.4 In 2024, approximately 1.6 million middle and high school students in the United States reported using e-cigarettes.5 There are no FDA-approved treatments indicated specifically as an aid to nicotine e-cigarette cessation. Cytisinicline has been granted Breakthrough Therapy designation by the FDA to address this critical need.
Cytisinicline is a plant-based alkaloid with a high binding affinity to the nicotinic acetylcholine receptor. It is believed to aid in treating nicotine addiction for smoking and e-cigarette cessation by interacting with nicotine receptors in the brain, reducing the severity of nicotine craving symptoms, and reducing the reward and satisfaction associated with nicotine products. Cytisinicline is an investigational product candidate being developed as a treatment of nicotine dependence for smoking cessation and has not been approved by the Food and Drug Administration for any indication in the United States.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Achieve’s intention to conduct an offering and sale of securities, the grant of the option to purchase additional securities, the ability to complete the offering and expected use of proceeds, the timing and nature of cytisinicline clinical development and regulatory review and approval, data results and commercialization activities, the potential market size for cytisinicline, the potential benefits, efficacy, safety and tolerability of cytisinicline, the development and effectiveness of new treatments, and the successful commercialization of cytisinicline. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Achieve may not actually achieve its plans or product development goals in a timely manner, if at all, or otherwise carry out its intentions or meet its expectations or projections disclosed in these forward-looking statements. There can be no assurance regarding the completion of this offering. These statements are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including those risks described in the risk factors set forth in Achieve’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Achieve undertakes no obligation to update the forward-looking statements contained herein or to reflect events or circumstances occurring after the date hereof, other than as may be required by applicable law.
Investor Relations Contact
Nicole Jones
ir@achievelifesciences.com
(425) 686-1510
References
1VanFrank B, Malarcher A, Cornelius ME, Schecter A, Jamal A, Tynan M. Adult Smoking Cessation — United States, 2022. MMWR Morb Mortal Wkly Rep 2024;73:633–641.
2World Health Organization. WHO Report on the Global Tobacco Epidemic, 2019. Geneva: World Health Organization, 2017.
3U.S. Department of Health and Human Services. The Health Consequences of Smoking – 50 Years of Progress. A Report of the Surgeon General, 2014.
4Vahratian A, Briones EM, Jamal A, Marynak KL. Electronic cigarette use among adults in the United States, 2019–2023. NCHS Data Brief, no 524. Hyattsville, MD: National Center for Health Statistics. 2025. DOI: https://dx.doi.org/ 10.15620/cdc/174583.
5Jamal A, Park-Lee E, Birdsey J, et al. Tobacco Product Use Among Middle and High School Students — National Youth Tobacco Survey, United States, 2024. MMWR Morb Mortal Wkly Rep 2024;73:917–924.
FAQ
What is the purpose of Achieve Life Sciences (ACHV) public offering in June 2025?
Who are the underwriters for ACHV's June 2025 public offering?
What securities is ACHV offering in the June 2025 public offering?
How will the June 2025 offering affect existing ACHV shareholders?
What is cytisinicline and what is ACHV developing it for?
