secwatch.observer — SEC 8-K summary
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Issuer:     ACHIEVE LIFE SCIENCES, INC. (ACHV)
CIK:        0000949858
Form:       8-K
Filed at:   2022-05-12T23:59:59+00:00
Accession:  0001564590-22-019857
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Achieve reports Q1 net loss $7.6M; positive Phase 3 ORCA-2 cytisinicline results
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/949858/000156459022019857/0001564590-22-019857-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/949858/000156459022019857/achv-8k_20220512.htm
  HTML page:      https://secwatch.observer/filing/0001564590-22-019857

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer