SEATTLE, Wash. and VANCOUVER, British Columbia, May 23, 2018 — Achieve Life Sciences, Inc. (NASDAQ: ACHV), a clinical-stage pharmaceutical company committed to the global development and commercialization of cytisine for smoking cessation, today announced a reverse stock split of its shares of common stock at a ratio of 1-for-10. The reverse stock split will become effective on May 23, 2018, and shares will begin trading on the split-adjusted basis on the Nasdaq Capital Market under the Company’s existing trading symbol “ACHV” at market open on May 24, 2018. The new CUSIP number following the reverse stock split will be 004468203.
At the effective time of the reverse stock split, every ten shares of the Company’s issued and outstanding common stock will be automatically combined and reclassified into one issued and outstanding share of common stock. The reverse stock split will not affect any stockholder’s ownership percentage of the Company’s common stock, alter the par value of the Company’s common stock, or modify any voting rights or other terms of the common stock.
The reverse stock split was approved by Achieve’s stockholders at the Company’s annual stockholder meeting held May 22, 2018. Additional information regarding the reverse stock split, other matters voted upon, and the certified voting results are available in the Form 8-K filed today with the U.S. Securities and Exchange Commission.
About Achieve & Cytisine
Achieve’s focus is to address the global smoking health epidemic through the development and commercialization of cytisine. Tobacco use is currently the leading cause of preventable death and is responsible for nearly six million deaths annually worldwide. It is estimated that 28.6% of all cancer deaths in the U.S. are attributable to cigarette smoking