earnings
confidence high
sentiment positive
materiality 0.70
Achieve reports Q1 net loss $7.6M; positive Phase 3 ORCA-2 cytisinicline results
ACHIEVE LIFE SCIENCES, INC.
2023-Q1 EPS reported
-$0.80
- Net loss of $7.6M for Q1 2022; cash & equivalents $36.4M as of March 31, 2022.
- Phase 3 ORCA-2 cytisinicline met primary endpoints: 12-week abstinence 32.6% vs 7.0% placebo.
- Updated SVB debt facility provides remaining $10M available through April 2023.
- Appointed Dr. Vaughn Himes (CTO of Seagen) to Board of Directors in March 2022.
- Operating expenses $7.2M for Q1; shares outstanding 9,681,855 as of May 12, 2022.