Business
Achieve Life Sciences Reports Financial Results for Fourth Quarter and Year-End 2022 and Provides Corporate Update
Company to host conference call March 16, 2023, at 4:30 PM EDT SEATTLE, Wash. and VANCOUVER, British Columbia, March 16, 2023 (GLOBE NEWSWIRE) -- Achieve Life
About this update from Achieve Life Sciences, Inc.
[{"type":"text","content":"Company to host conference call March 16, 2023, at 4:30 PM EDT\nSEATTLE, Wash. and VANCOUVER, British Columbia, March 16, 2023 (GLOBE NEWSWIRE) -- Achieve Life Sciences, Inc. (NASDAQ: ACHV), a late-stage clinical pharmaceutical company committed to the global development and commercialization of cytisinicline for smoking cessation and nicotine dependence, today announced fourth quarter and year-end 2022 financial results and provided an update on the cytisinicline development program. Recent Highlights Presented additional analyses from the Phase 3 ORCA-2 trial at the Society for Research on Nicotine and Tobacco (SRNT) Annual MeetingAnnounced accomplishment of key milestones, including last subject dosing and last subject visit, in the Phase 2 ORCA-V1 trial evaluating cytisinicline for e-cigarette cessationCompleted dosing of final subject in the Phase 3 ORCA-3 trial of cytisinicline for smoking cessationGranted patent by United States Patent and Trademark Office (USPTO) for new cytisinicline formulationClosed financing of $18.9 million, prior to deducting placement agent commissions and estimated offering expenses John Bencich, Chief Executive Officer of Achieve, commented, “We believe that cytisinicline has the potential to help millions of people overcome their dependence to nicotine, and ultimately, live better and healthier lives. We will continue to honor our commitment to the patients we serve, and the numerous stakeholders who share our confidence in cytisinicline, by delivering on our key milestones in the year ahead. We look forward to 2023 being the most pivotal and exciting year yet for Achieve.” Phase 3 ORCA-2 Trial of Cytisinicline Presented at SRNT New analyses from the ORCA-2 trial were presented as part of the “Novel Treatments for Smoking Cessation” session held March 3, 2023, at the Annual SRNT Meeting. The presentation, given by ORCA-2 Principal Investigator, Dr. Nancy Rigotti, highlighted successful abstinence rates observed in subgroups of smokers who received cytisinicline, regardless of age, gender, smoking history, or previous quit attempts. Additional findings also demonstrated consistently higher rates of abstinence in subjects who received either 6 or 12-weeks of cytisinicline, compared to placebo. The higher rates of abstinence were maintained throughout study treatment and during the 24-week follow-...