Achieve Life Sciences Q2 net loss $8.2M, cash $25.1M; advances cytisinicline NDA submission H1 2024

ACHIEVE LIFE SCIENCES, INC.

2023-Q2 EPS reported -$0.93

Net loss of $8.2M in Q2 2023; cash, equivalents and restricted cash $25.1M as of June 30, 2023.
Positive Phase 3 ORCA-3 trial confirmed cytisinicline efficacy/safety for smoking cessation in 792 smokers.
Phase 2 ORCA-V1: cytisinicline increased odds of quitting vaping 2.6x vs placebo (31.8% vs 15.1%).
Plan to submit New Drug Application for cytisinicline in first half of 2024.
Raised $16.5M in registered direct offering; refinanced $16.6M SVB debt with maturity to Dec 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ACHIEVE LIFE SCIENCES, INC. reported second quarter of 2023 results: revenue $25.1 million, net income $8.2 million.

Period: second quarter of 2023
Revenue: $25.1 million
Net income: $8.2 million
Result: reported results

Exact text from the filing

terminated in connection with the new contingent convertible debt agreement. Financial Results As of June 30, 2023, the company’s cash, cash equivalents, and restricted cash was $25.1 million. Total operating expenses for the three and six months ended June 30, 2023 were $7.7 million and $16.3 million, respectively. Total net loss for the three and six months ended

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ACHIEVE LIFE SCIENCES, INC. filing history →

Source: SEC EDGAR

accession 0000950170-23-042382

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