Achieve Life Sciences Inc Stock Price, News & Analysis

Achieve Life Sciences (Nasdaq: ACHV) has successfully closed a public offering of 2,472,500 shares at $7.00 each, raising $17.3 million before expenses. The offering included the underwriter's full over-allotment of 322,500 shares. Proceeds will support the Phase 3 ORCA-2 trial, clinical research, and general corporate needs, extending the company's financial runway into mid-2022. Lake Street Capital Markets was the sole bookrunning manager, and the registration was declared effective by the SEC on December 2, 2020.

Achieve Life Sciences (Nasdaq: ACHV) announced a public offering of 2,150,000 shares at $7.00 each, aiming to raise approximately $15 million. The offering, set to close around December 7, 2020, includes a 30-day option for underwriters to purchase an additional 322,500 shares. Proceeds will fund the Phase 3 ORCA-2 trial and support clinical research and corporate purposes. This offering follows a recent SEC registration, positioning Achieve to enhance its development of cytisinicline, a promising aid for smoking cessation.

Achieve Life Sciences (Nasdaq: ACHV) announced a proposed underwritten public offering of 1,500,000 shares of common stock, along with an option for underwriters to purchase an additional 225,000 shares. The offering, managed by Lake Street Capital Markets LLC with Maxim Group LLC as co-manager, aims to fund the Phase 3 ORCA-2 trial and support clinical research, development, and general corporate purposes. A registration statement has been filed with the SEC, but the completion and terms of the offering remain uncertain due to market conditions.

Achieve Life Sciences (Nasdaq: ACHV) reported Q3 2020 financial results, highlighting the initiation of the Phase 3 ORCA-2 trial for cytisinicline, aimed at smoking cessation. The trial involves 750 smokers and compares cytisinicline's efficacy against placebo. The company announced a cash position of $22.4 million with Q3 operating expenses of $3.8 million, leading to a net loss of $3.8 million. Cytisinicline showed promising results in a previous trial against Chantix, revealing fewer adverse events and higher quit rates. A virtual roundtable on smoking cessation is scheduled for November 17, 2020.

Achieve Life Sciences, Inc. (Nasdaq: ACHV) will release its third quarter 2020 financial results on November 12, 2020, at 4:30 PM ET. The company is focused on the development of cytisinicline for smoking cessation and nicotine addiction. The earnings call will provide updates on this program, and interested parties can access the call via their Investor Relations page or by phone. A replay will be available approximately two hours after the call.

Achieve Life Sciences (NASDAQ: ACHV) is hosting a virtual roundtable on November 17, 2020, at 12:00 PM EST to discuss cytisinicline's role in smoking cessation. The event features a principal investigator from the ongoing ORCA-2 Phase 3 trial and a review of results from the RAUORA study comparing cytisinicline to Chantix. Moderated by healthcare analysts, the discussion emphasizes the importance of smoking cessation during the COVID-19 pandemic. Esteemed experts from Harvard, Stanford, and other institutions will participate.

Achieve Life Sciences (NASDAQ: ACHV) announced its invitation to present at the MicroCap Rodeo Best Ideas Bowl, scheduled for October 13-16, 2020. CEO John Bencich will present on October 13 at 3:30 p.m. ET, with one-on-one meetings available throughout the event. The presentation will be webcast live at this link. Achieve is focused on developing cytisinicline, a plant-based solution for smoking cessation, which has helped over 20 million users in Europe.

Achieve Life Sciences (NASDAQ: ACHV) announced the initiation of the Phase 3 ORCA-2 clinical trial, evaluating the efficacy and safety of 3 mg cytisinicline for smoking cessation among 750 adult smokers at 15 U.S. clinical sites. The trial compares two treatment durations against placebo, measuring successful smoking cessation over the final four weeks. Achieve aims to improve quit rates based on previous ORCA-1 findings, with the potential for cytisinicline to be a well-tolerated treatment option if approved.

Achieve Life Sciences (Nasdaq: ACHV) has appointed John Bencich as the new Chief Executive Officer, transitioning from his previous role as Chief Financial and Operating Officer. Cindy Jacobs is promoted to President, while Anthony Clark will continue as Chief Scientific Officer after stepping down from the Board. The company has approximately $26.7 million in cash and plans to initiate the Phase 3 ORCA-2 trial in Q4 2020 for its smoking cessation drug, cytisinicline, which has been used by over 20 million people in Europe.