Achieve Reports Financial Results for Third Quarter 2018 and Provides Cytisinicline (Cytisine) Clinical Development Update
SEATTLE, Wash and VANCOUVER, British Columbia, November 7, 2018 — Achieve Life Sciences, Inc. (Nasdaq: ACHV), a clinical-stage pharmaceutical company committed to the global development and commercialization of cytisinicline for smoking cessation, today provided an update on the cytisinicline clinical development program and announced third quarter 2018 financial results.
- The United States Adopted Name Council, or USAN, adopted cytisinicline as the nonproprietary (generic) name for the substance also known as cytisine
- Announced initiation of the first trial in the ORCA (Ongoing Research of Cytisinicline for Addiction) Program. This Phase 2b optimization study will evaluate approximately 250 smokers in the U.S.
- Reported results of a clinical study evaluating the effect of food on the bioavailability of a new formulation for cytisinicline
- Closed registered direct offering for gross proceeds of $5.6 million
- Announced positive cytisinicline data published in the International Journal of Drug Policy
Rick Stewart, Chairman and Chief Executive Officer of Achieve Life Sciences commented, “We are pleased with our continued progress made in the third quarter, particularly the initiation of the ORCA-1 trial that will provide critical insights to inform our Ph