Business
Achieve Reports Financial Results for First Quarter 2022 and Provides Corporate Update
Company to host conference call at 4:30 PM EDT today, May 12, 2022 SEATTLE and VANCOUVER, British Columbia, May 12, 2022 (GLOBE NEWSWIRE) -- Achieve Life
About this update from Achieve Life Sciences, Inc.
[{"type":"text","content":"Company to host conference call at 4:30 PM EDT today, May 12, 2022\nSEATTLE and VANCOUVER, British Columbia, May 12, 2022 (GLOBE NEWSWIRE) -- Achieve Life Sciences, Inc. (Nasdaq: ACHV), a clinical-stage pharmaceutical company committed to the global development and commercialization of cytisinicline for smoking cessation and nicotine addiction, today announced first quarter 2022 financial results and provided an update on the cytisinicline clinical development program. Recent Events & Highlights Reported clinically robust and statistically significant Phase 3 topline results from the ORCA-2 clinical trial of cytisinicline in adult smokersFollowing positive ORCA-2 results, Achieve updated its agreements with Silicon Valley Bank, providing access to an additional $10.0 million of capitalCytisinicline development program overview presented at Society for Research on Nicotine and Tobacco (SRNT) Annual MeetingAppointed Dr. Vaughn Himes to Achieve’s Board of Directors “Cytisinicline exceeded our expectations in the ORCA-2 trial by delivering impressive efficacy and tolerability in a difficult-to-treat population of smokers, who had lengthy and intense smoking histories, but who courageously attempted to quit smoking in the height of the COVID-19 pandemic,” said John Bencich, Chief Executive Officer of Achieve. “We are delighted for those who were successful in ORCA-2 and inspired to continue our efforts to bring this important cytisinicline treatment to the FDA for review and potential approval as a new cessation option for the millions of people battling nicotine addiction.”Positive Phase 3 ORCA-2 Topline Results The Phase 3 ORCA-2 trial of cytisinicline achieved statistically significant results in primary and secondary endpoints for both 6- and 12-week cytisinicline treatment compared to placebo, and was very well tolerated with single-digit rates of adverse events observed. Subjects who received 12 weeks of cytisinicline treatment had 6.3 times higher odds, or likelihood, to have quit smoking during the last 4 weeks of treatment compared to subjects who received placebo (p","length":3012,"tagName":"div"}]