Achieve Life Sciences Q2 net loss $8.5M; FDA Breakthrough Therapy for cytisinicline vaping cessation

ACHIEVE LIFE SCIENCES, INC.

2024-Q2 EPS reported -$0.50

Q2 net loss $8.5M vs $8.0M prior year; cash & equivalents $61.3M as of June 30, 2024.
FDA granted Breakthrough Therapy designation for cytisinicline for nicotine e-cigarette cessation; no FDA-approved treatments exist.
Refinanced up to $20M loan with SVB; maturity extended to Dec 1, 2027 from Aug 1, 2024.
Initiated ORCA-OL trial for long-term cytisinicline exposure; over 50% of 650 participants enrolled.
Included in Russell 3000 and Russell Microcap indexes effective July 1, 2024.

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